ServiceNow (NYSE:NOW) Price Target Raised to $155.00 at Deutsche Bank Aktiengesellschaft

ServiceNow (NYSE:NOW) had its price objective lifted by equities researchers at Deutsche Bank Aktiengesellschaft from $135.00 to $155.00 in a research note issued to investors on Monday. The firm presently has a “buy” rating on the information technology services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 10.16% from the company’s current price.

A number of other analysts have also recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $140.00 target price (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. BTIG Research boosted their price objective on shares of ServiceNow from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, September 8th. Citigroup restated a “market outperform” rating on shares of ServiceNow in a research note on Thursday, July 23rd. Evercore reaffirmed an “outperform” rating and issued a $160.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Cantor Fitzgerald lifted their target price on ServiceNow from $141.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

ServiceNow Price Performance

NYSE NOW opened at $140.70 on Monday. ServiceNow has a 52 week low of $81.24 and a 52 week high of $194.73. The firm has a market capitalization of $145.48 billion, a P/E ratio of 87.94, a PEG ratio of 2.52 and a beta of 0.97. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $125.26 and a 200-day moving average price of $110.61.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 EPS. Equities research analysts anticipate that ServiceNow will post 2.22 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 7,847 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the transaction, the insider owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. This represents a 20.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total value of $365,850.00. Following the completion of the sale, the director owned 43,990 shares of the company’s stock, valued at $5,960,645. The trade was a 5.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,081 shares of company stock valued at $1,937,904 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Several large investors have recently made changes to their positions in NOW. Blueline Advisors LLC purchased a new position in shares of ServiceNow in the fourth quarter worth $25,000. Measured Wealth Private Client Group LLC lifted its stake in ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Cornerstone Financial Management LLC lifted its stake in ServiceNow by 72.8% in the 2nd quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 107 shares in the last quarter. Evolution Wealth Management Inc. boosted its holdings in shares of ServiceNow by 414.3% during the 4th quarter. Evolution Wealth Management Inc. now owns 180 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 145 shares during the last quarter. Finally, CrossGen Wealth LLC bought a new position in shares of ServiceNow during the 1st quarter valued at about $29,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

About ServiceNow

ServiceNow, Inc is a cloud-based enterprise software company that provides digital workflow and automation solutions. Its Now Platform enables organizations to manage and connect business processes across information technology, customer service, human resources, finance, legal operations and other departments.

The company’s products and services include IT service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance management, strategic portfolio management and application development tools.