ServiceNow (NYSE:NOW) PT Raised to $900.00

ServiceNow (NYSE:NOW) had its price target boosted by research analysts at Wells Fargo & Company from $875.00 to $900.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 22.34% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Mizuho boosted their price target on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. UBS Group boosted their price target on shares of ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus reissued a “buy” rating and set a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. Royal Bank of Canada boosted their price target on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group upped their target price on shares of ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $780.00.

ServiceNow Price Performance

Shares of NOW stock opened at $735.68 on Tuesday. ServiceNow has a 1 year low of $427.68 and a 1 year high of $815.32. The firm’s 50 day moving average is $767.53 and its 200-day moving average is $700.42. The firm has a market capitalization of $151.09 billion, a price-to-earnings ratio of 87.48, a PEG ratio of 4.65 and a beta of 0.97. 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 (NYSE:NOW) last announced its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. ServiceNow’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 earnings per share. Sell-side analysts forecast that ServiceNow will post 6.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul John Smith sold 5,159 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by insiders.

Institutional Trading of ServiceNow

A number of large investors have recently added to or reduced their stakes in NOW. PFG Private Wealth Management LLC acquired a new stake in ServiceNow in the third quarter valued at $28,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow in the fourth quarter valued at about $29,000. First Capital Advisors Group LLC. bought a new position in shares of ServiceNow in the second quarter valued at about $29,000. High Net Worth Advisory Group LLC bought a new position in shares of ServiceNow in the first quarter valued at about $29,000. Finally, AdvisorNet Financial Inc raised its position in shares of ServiceNow by 266.7% in the fourth 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. Institutional investors and hedge funds own 87.18% of the company’s stock.

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.