ServiceNow (NYSE:NOW) PT Raised to $920.00 at UBS Group

ServiceNow (NYSE:NOW) had its price target lifted by analysts at UBS Group from $885.00 to $920.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the information technology services provider’s stock. UBS Group’s price target would indicate a potential upside of 23.55% from the company’s current price.

Several other equities analysts also recently commented on the stock. Jefferies Financial Group upped their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. KeyCorp initiated coverage on shares of ServiceNow in a research report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price target on the stock. Mizuho boosted their price target on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Needham & Company LLC boosted their price target on shares of ServiceNow from $660.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Finally, Truist Financial boosted their price target on shares of ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $780.00.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $744.64 on Monday. The company has a market cap of $152.93 billion, a price-to-earnings ratio of 88.54, a price-to-earnings-growth ratio of 4.86 and a beta of 0.97. The company has a 50-day moving average price of $768.63 and a 200-day moving average price of $700.17. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow has a 12 month low of $427.68 and a 12 month high of $815.32.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, equities analysts anticipate that ServiceNow will post 6.16 EPS for the current year.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 1,180 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock worth $9,940,303 over the last quarter. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. PFG Private Wealth Management LLC bought a new position in ServiceNow in the third quarter worth approximately $28,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of ServiceNow during the 4th quarter valued at $29,000. First Capital Advisors Group LLC. bought a new stake in shares of ServiceNow during the 2nd quarter valued at $29,000. High Net Worth Advisory Group LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at $29,000. Finally, AdvisorNet Financial Inc raised its position in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the period. 87.18% of the stock is currently owned by institutional investors.

About ServiceNow

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.