ServiceNow (NYSE:NOW) Price Target Raised to $1,300.00

ServiceNow (NYSE:NOW) had its price objective raised by TD Cowen from $1,025.00 to $1,300.00 in a research note released on Tuesday,Benzinga reports. TD Cowen currently has a buy rating on the information technology services provider’s stock.

NOW has been the topic of a number of other research reports. Needham & Company LLC upped their price target on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Canaccord Genuity Group lifted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Evercore ISI boosted their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein boosted their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, UBS Group raised their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $1,029.78.

ServiceNow Trading Up 0.1 %

NYSE NOW opened at $1,148.65 on Tuesday. The stock has a market capitalization of $236.62 billion, a price-to-earnings ratio of 178.67, a PEG ratio of 6.45 and a beta of 0.99. The business’s fifty day moving average is $997.59 and its 200-day moving average is $866.27. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow has a one year low of $637.99 and a one year high of $1,157.90.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 EPS. Equities research analysts predict that ServiceNow will post 7.07 EPS for the current year.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 300 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was 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 owns 10,467 shares of the company’s stock, valued at $10,968,892.65. This trade represents a 2.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,629 shares of company stock worth $20,861,626 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NOW. NorthCrest Asset Manangement LLC grew its position in ServiceNow by 2.0% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 1,057 shares of the information technology services provider’s stock worth $832,000 after purchasing an additional 21 shares during the period. ORG Partners LLC lifted its holdings in ServiceNow by 1,623.8% in the second quarter. ORG Partners LLC now owns 724 shares of the information technology services provider’s stock valued at $571,000 after acquiring an additional 682 shares during the period. Redhawk Wealth Advisors Inc. boosted its position in ServiceNow by 4.4% in the second quarter. Redhawk Wealth Advisors Inc. now owns 453 shares of the information technology services provider’s stock worth $356,000 after purchasing an additional 19 shares during the last quarter. 180 Wealth Advisors LLC grew its stake in shares of ServiceNow by 4.2% during the 2nd quarter. 180 Wealth Advisors LLC now owns 1,277 shares of the information technology services provider’s stock valued at $957,000 after purchasing an additional 51 shares during the period. Finally, Baader Bank Aktiengesellschaft increased its position in shares of ServiceNow by 55.5% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,337 shares of the information technology services provider’s stock valued at $1,047,000 after purchasing an additional 477 shares during the last quarter. Institutional investors 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.