ServiceNow (NYSE:NOW) Price Target Raised to $900.00

ServiceNow (NYSE:NOW) had its target price lifted by Wells Fargo & Company from $875.00 to $900.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

NOW has been the subject of several other research reports. 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 note on Thursday, January 25th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Barclays lifted their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the company an overweight rating in a research note on Tuesday, January 23rd. Royal Bank of Canada lifted their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group lifted their price objective 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 equities research 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, the company currently has an average rating of Moderate Buy and an average target price of $780.37.

ServiceNow Stock Down 0.7 %

Shares of NYSE NOW opened at $731.47 on Tuesday. The company has a market capitalization of $150.23 billion, a P/E ratio of 86.98, a price-to-earnings-growth ratio of 4.71 and a beta of 0.97. ServiceNow has a 52-week low of $427.68 and a 52-week high of $815.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The company’s 50 day moving average price is $766.17 and its 200-day moving average price is $700.64.

ServiceNow (NYSE:NOW) last issued its quarterly 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 firm had revenue of $2.44 billion for 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 revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 EPS. Equities analysts forecast that ServiceNow will post 6.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction dated 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 directly 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 13,164 shares of company stock valued at $9,940,303 in the last three months. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceNow

Several institutional investors have recently added to or reduced their stakes in the business. RB Capital Management LLC increased its position in shares of ServiceNow by 25.2% during the first quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after buying an additional 192 shares during the period. Zions Bancorporation N.A. increased its position in shares of ServiceNow by 17.9% during the first quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock valued at $487,000 after buying an additional 133 shares during the period. Brown Brothers Harriman & Co. increased its position in shares of ServiceNow by 728.0% during the first quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock valued at $1,070,000 after buying an additional 1,689 shares during the period. Parkside Financial Bank & Trust increased its position in shares of ServiceNow by 9.0% during the first quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock valued at $195,000 after buying an additional 29 shares during the period. Finally, NewEdge Advisors LLC increased its position in shares of ServiceNow by 0.7% in the first quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock worth $6,499,000 after purchasing an additional 86 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other 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.