ServiceNow (NYSE:NOW) Price Target Raised to $900.00

ServiceNow (NYSE:NOW) had its price objective raised by Jefferies Financial Group from $885.00 to $900.00 in a research note released on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the information technology services provider’s stock.

NOW has been the subject of a number of other research reports. Citigroup raised their price objective on ServiceNow from $862.00 to $896.00 and gave the stock a buy rating in a research report on Friday, January 26th. UBS Group raised their price objective on ServiceNow from $865.00 to $885.00 and gave the stock a buy rating in a research report on Thursday, January 25th. Robert W. Baird raised their price objective on ServiceNow from $780.00 to $870.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Piper Sandler lifted their price target on ServiceNow from $750.00 to $830.00 and gave the stock an overweight rating in a research report on Thursday, January 25th. Finally, Barclays lifted their price target on ServiceNow from $765.00 to $870.00 and gave the stock an overweight rating in a research report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $772.22.

ServiceNow Trading Down 0.4 %

Shares of NYSE:NOW opened at $768.59 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $157.85 billion, a PE ratio of 91.39, a P/E/G ratio of 4.87 and a beta of 0.97. ServiceNow has a 12-month low of $427.68 and a 12-month high of $815.32. The business’s fifty day simple moving average is $770.27 and its 200-day simple moving average is $695.47.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. As a group, equities research analysts predict that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Large investors have recently bought and sold shares of the company. RB Capital Management LLC grew its position in shares of ServiceNow by 25.2% in the first quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after purchasing an additional 192 shares in the last quarter. Zions Bancorporation N.A. grew its position in shares of ServiceNow by 17.9% in the first quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock valued at $487,000 after purchasing an additional 133 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in shares of ServiceNow by 728.0% in the first quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock valued at $1,070,000 after purchasing an additional 1,689 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of ServiceNow by 9.0% in the first quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock valued at $195,000 after purchasing an additional 29 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of ServiceNow by 0.7% in the first quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock valued at $6,499,000 after purchasing an additional 86 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.