ServiceNow (NYSE:NOW) Price Target Raised to $920.00

ServiceNow (NYSE:NOW) had its target price lifted by UBS Group from $885.00 to $920.00 in a research note published on Monday morning, Benzinga reports. UBS Group currently has a buy rating on the information technology services provider’s stock.

A number of other equities analysts have also recently commented on NOW. Stifel Nicolaus restated a buy rating and set a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Citigroup lifted their price objective on ServiceNow from $862.00 to $896.00 and gave the company a buy rating in a research note on Friday, January 26th. The Goldman Sachs Group lifted their price objective on ServiceNow from $800.00 to $910.00 and gave the company a buy rating in a research note on Thursday, January 25th. Jefferies Financial Group lifted their price objective on ServiceNow from $885.00 to $900.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Finally, Truist Financial lifted their price objective on ServiceNow from $700.00 to $750.00 and gave the company a hold rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $780.00.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $735.68 on Monday. The business has a 50-day moving average of $767.53 and a 200 day moving average of $700.42. ServiceNow has a 12 month low of $427.68 and a 12 month high of $815.32. The stock has a market capitalization of $151.09 billion, a price-to-earnings ratio of 87.48, a price-to-earnings-growth ratio of 4.65 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06.

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

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was 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 of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock valued at $9,940,303 over the last quarter. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Sandy Cove Advisors LLC increased its holdings in shares of ServiceNow by 4.6% in the first quarter. Sandy Cove Advisors LLC now owns 705 shares of the information technology services provider’s stock valued at $537,000 after purchasing an additional 31 shares during the period. Red Door Wealth Management LLC increased its holdings in shares of ServiceNow by 4.9% in the first quarter. Red Door Wealth Management LLC now owns 6,410 shares of the information technology services provider’s stock valued at $4,887,000 after purchasing an additional 297 shares during the period. Cornerstone Wealth Group LLC increased its holdings in shares of ServiceNow by 5.1% in the first quarter. Cornerstone Wealth Group LLC now owns 4,625 shares of the information technology services provider’s stock valued at $3,526,000 after purchasing an additional 224 shares during the period. Physician Wealth Advisors Inc. increased its holdings in shares of ServiceNow by 2.5% in the first quarter. Physician Wealth Advisors Inc. now owns 1,123 shares of the information technology services provider’s stock valued at $836,000 after purchasing an additional 27 shares during the period. Finally, New Mexico Educational Retirement Board increased its holdings in shares of ServiceNow by 9.4% in the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after purchasing an additional 1,000 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.