ServiceNow (NYSE:NOW) Given New $906.00 Price Target at Citigroup

ServiceNow (NYSE:NOW) had its price target upped by Citigroup from $896.00 to $906.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company raised their price objective on ServiceNow from $875.00 to $900.00 and gave the stock an overweight rating in a research note on Tuesday. Royal Bank of Canada raised their price objective on ServiceNow from $840.00 to $850.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. JMP Securities raised their price objective on ServiceNow from $665.00 to $825.00 and gave the stock a market outperform rating in a research note on Monday, January 22nd. UBS Group raised their price objective on ServiceNow from $885.00 to $920.00 and gave the stock a buy rating in a research note on Monday. Finally, The Goldman Sachs Group raised their price objective on ServiceNow from $800.00 to $910.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, ServiceNow presently has a consensus rating of Moderate Buy and a consensus target price of $780.37.

ServiceNow Stock Performance

ServiceNow stock opened at $731.47 on Thursday. The stock has a market cap of $150.23 billion, a P/E ratio of 86.98, a price-to-earnings-growth 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. The stock has a 50 day moving average of $766.17 and a 200-day moving average of $700.64. ServiceNow has a 52 week low of $427.68 and a 52 week high of $815.32.

ServiceNow (NYSE:NOW) last released its earnings results 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 company 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 revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. On average, analysts expect that ServiceNow will post 6.16 EPS for the current fiscal year.

Insider Activity

In other news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated 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 transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,164 shares of company stock valued at $9,940,303. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Argonautica Private Wealth Management Inc. grew its holdings in ServiceNow by 1.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after acquiring an additional 13 shares during the period. Wealth Management Partners LLC increased its stake in ServiceNow by 2.7% in the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after purchasing an additional 14 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its stake in ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 14 shares in the last quarter. Optas LLC increased its stake in ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after purchasing an additional 14 shares in the last quarter. Finally, Trust Co. of Vermont increased its stake in ServiceNow by 8.6% in the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after purchasing an additional 15 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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.