Mizuho Issues Positive Forecast for ServiceNow (NYSE:NOW) Stock Price

ServiceNow (NYSE:NOW) had its target price upped by Mizuho from $1,070.00 to $1,210.00 in a report issued on Friday morning,Benzinga reports. Mizuho currently has an outperform rating on the information technology services provider’s stock.

Several other research firms also recently commented on NOW. Evercore ISI increased their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus boosted their price target on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Piper Sandler upped their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $900.00 to $960.00 in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,034.96.

ServiceNow Stock Down 2.4 %

NYSE:NOW opened at $1,121.10 on Friday. The company has a market cap of $230.95 billion, a PE ratio of 174.35, a PEG ratio of 6.58 and a beta of 0.99. The stock has a 50-day simple moving average of $1,006.82 and a 200 day simple moving average of $870.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow has a 52-week low of $637.99 and a 52-week high of $1,157.90.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the business earned $1.21 EPS. On average, sell-side analysts expect that ServiceNow will post 7.07 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 300 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the completion of the transaction, the director now directly owns 10,467 shares in the company, valued at $10,968,892.65. The trade was a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at approximately $11,710,600. The trade was a 16.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. World Investment Advisors LLC boosted its position in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after buying an additional 4,771,830 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares during the last quarter. Bank of Montreal Can raised its holdings in ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after buying an additional 935,848 shares during the last quarter. Wellington Management Group LLP boosted its position in ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares during the period. Finally, FMR LLC grew its holdings in ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after acquiring an additional 502,845 shares during the last quarter. 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.