ServiceNow, Inc. (NYSE:NOW) Receives $855.44 Consensus Target Price from Brokerages

Shares of ServiceNow, Inc. (NYSE:NOW) have been assigned an average recommendation of “Moderate Buy” from the twenty-six research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $855.44.

NOW has been the topic of several research reports. Piper Sandler upped their price target on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Stifel Nicolaus raised their price target on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. TD Cowen boosted their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their target price on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, KeyCorp lowered their target price on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd.

ServiceNow Price Performance

Shares of NOW stock opened at $881.79 on Friday. The firm has a market cap of $180.77 billion, a P/E ratio of 94.31, a P/E/G ratio of 5.55 and a beta of 0.98. The firm has a fifty day moving average of $837.59 and a two-hundred day moving average of $776.29. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow has a 1-year low of $527.24 and a 1-year high of $945.46.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the company earned $0.77 earnings per share. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, research analysts anticipate that ServiceNow will post 6.78 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock worth $5,608,936 in the last quarter. 0.25% of the stock is owned by company insiders.

Institutional Trading of ServiceNow

Several hedge funds and other institutional investors have recently modified their holdings of NOW. Morling Financial Advisors LLC raised its stake in shares of ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after purchasing an additional 13 shares in the last quarter. Optas LLC raised its position in ServiceNow by 1.7% during the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after acquiring an additional 14 shares in the last quarter. Cedar Wealth Management LLC lifted its stake in ServiceNow by 5.5% in the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after acquiring an additional 14 shares during the last quarter. Financial Advocates Investment Management grew its position in ServiceNow by 2.7% in the second quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock worth $415,000 after acquiring an additional 14 shares in the last quarter. Finally, Ndwm LLC increased its stake in shares of ServiceNow by 0.6% during the 2nd quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock worth $1,900,000 after purchasing an additional 14 shares during 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.