ServiceNow (NYSE:NOW) PT Raised to $1,068.00

ServiceNow (NYSE:NOW) had its target price hoisted by Citigroup from $915.00 to $1,068.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

NOW has been the topic of several other reports. Jefferies Financial Group upped their price objective on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Canaccord Genuity Group reiterated a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. Needham & Company LLC restated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a report on Monday, September 9th. UBS Group increased their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on ServiceNow from $935.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $914.15.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $921.75 on Thursday. The company has a market cap of $188.96 billion, a P/E ratio of 98.58, a P/E/G ratio of 5.63 and a beta of 0.99. ServiceNow has a 52-week low of $527.24 and a 52-week high of $949.59. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm’s fifty day moving average is $874.61 and its two-hundred day moving average is $792.22.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the business posted $0.77 earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, analysts anticipate that ServiceNow will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,267 shares of company stock valued at $5,935,447 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Calton & Associates Inc. bought a new stake in ServiceNow during the third quarter valued at about $30,520,000. Allspring Global Investments Holdings LLC lifted its position in shares of ServiceNow by 6.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 313,361 shares of the information technology services provider’s stock valued at $280,267,000 after buying an additional 19,385 shares during the last quarter. Vest Financial LLC boosted its holdings in shares of ServiceNow by 205.8% in the 3rd quarter. Vest Financial LLC now owns 994 shares of the information technology services provider’s stock valued at $889,000 after buying an additional 669 shares in the last quarter. OLD National Bancorp IN grew its position in shares of ServiceNow by 2.8% in the 3rd quarter. OLD National Bancorp IN now owns 597 shares of the information technology services provider’s stock worth $534,000 after buying an additional 16 shares during the last quarter. Finally, Resonant Capital Advisors LLC raised its stake in shares of ServiceNow by 15.2% during the 3rd quarter. Resonant Capital Advisors LLC now owns 539 shares of the information technology services provider’s stock worth $482,000 after acquiring an additional 71 shares in the last quarter. 87.18% of the stock is currently 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.