Brokerages Set ServiceNow, Inc. (NYSE:NOW) Price Target at $974.04

Shares of ServiceNow, Inc. (NYSE:NOW) have been given a consensus rating of “Moderate Buy” by the twenty-nine research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, twenty-five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $986.39.

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. BMO Capital Markets upped their target price on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Oppenheimer increased their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Sanford C. Bernstein boosted their target price on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, KeyCorp raised their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th.

Insiders Place Their Bets

In related news, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the transaction, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,373 shares of company stock worth $7,139,335 in the last quarter. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Several hedge funds have recently modified their holdings of the stock. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow in the 1st quarter worth $25,000. Versant Capital Management Inc raised its stake in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC grew its stake in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the period. Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the 3rd quarter worth approximately $30,000. Finally, Ridgewood Investments LLC acquired a new stake in ServiceNow in the 2nd quarter valued at about $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of NOW opened at $1,022.98 on Friday. ServiceNow has a 12 month low of $637.99 and a 12 month high of $1,061.66. The stock has a fifty day moving average price of $941.65 and a 200-day moving average price of $830.81. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $210.73 billion, a PE ratio of 159.10, a P/E/G ratio of 5.80 and a beta of 0.98.

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 analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 earnings per share. Equities research analysts predict that ServiceNow will post 7.07 earnings per share for the current fiscal year.

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.