ServiceNow (NYSE:NOW) Price Target Raised to $830.00

ServiceNow (NYSE:NOW) had its price objective boosted by Morgan Stanley from $814.00 to $830.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

A number of other research analysts also recently commented on the stock. Mizuho lifted their price objective 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. Royal Bank of Canada lifted their price target on ServiceNow from $840.00 to $850.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Stifel Nicolaus restated a buy rating and issued a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Jefferies Financial Group lifted their target price on ServiceNow from $885.00 to $900.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group increased their price target on ServiceNow from $800.00 to $910.00 and gave the company a buy rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, ServiceNow has a consensus rating of Moderate Buy and a consensus target price of $807.28.

ServiceNow Stock Up 1.0 %

NOW stock opened at $723.55 on Thursday. The company has a market cap of $148.60 billion, a price-to-earnings ratio of 77.39, a P/E/G ratio of 4.57 and a beta of 0.97. ServiceNow has a twelve month low of $427.68 and a twelve month high of $815.32. The business has a 50 day moving average price of $759.21 and a two-hundred day moving average price of $710.01. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction 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 sale, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s 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 completion of the transaction, 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. In the last three months, insiders have sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $1,648,259,000. International Assets Investment Management LLC lifted its position in shares of ServiceNow by 69,354.6% in the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after purchasing an additional 820,465 shares during the period. FMR LLC increased its position in shares of ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after buying an additional 595,697 shares during the period. Global Assets Advisory LLC bought a new position in ServiceNow during the first quarter worth $403,034,000. Finally, Jennison Associates LLC lifted its holdings in ServiceNow by 23.0% in the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock valued at $1,379,217,000 after buying an additional 461,614 shares during the period. 87.18% of the stock is 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.