ServiceNow (NYSE:NOW) Given New $1,250.00 Price Target at Wells Fargo & Company

ServiceNow (NYSE:NOW) had its price objective increased by Wells Fargo & Company from $1,150.00 to $1,250.00 in a research note published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the information technology services provider’s stock.

A number of other research analysts also recently commented on the company. Canaccord Genuity Group increased their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Mizuho increased their price target on shares of ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. BMO Capital Markets boosted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Stifel Nicolaus increased their target price on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein boosted their price target on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.26.

ServiceNow Stock Up 0.1 %

Shares of NYSE:NOW opened at $1,124.34 on Thursday. ServiceNow has a fifty-two week low of $637.99 and a fifty-two week high of $1,137.00. The firm’s 50 day moving average price is $982.51 and its 200 day moving average price is $858.37. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market cap of $231.61 billion, a price-to-earnings ratio of 174.86, a price-to-earnings-growth ratio of 6.45 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data 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 business had revenue of $2.80 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business earned $1.21 EPS. As a group, equities research analysts predict that ServiceNow will post 7.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Paul Edward Chamberlain sold 300 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the transaction, the director now directly owns 10,467 shares in the company, valued at $10,968,892.65. This represents a 2.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 353 shares of the business’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 transaction of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders have sold 20,629 shares of company stock worth $20,861,626. 0.25% of the stock is owned by insiders.

Institutional Trading of ServiceNow

Several institutional investors have recently made changes to their positions in the stock. Truvestments Capital LLC acquired a new stake in ServiceNow during the third quarter worth about $30,000. Ridgewood Investments LLC acquired a new stake in ServiceNow during the 2nd quarter worth approximately $32,000. DT Investment Partners LLC raised its holdings in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the period. American Capital Advisory LLC purchased a new position in ServiceNow in the second quarter valued at approximately $39,000. Finally, Semmax Financial Advisors Inc. acquired a new stake in shares of ServiceNow in the second quarter worth $39,000. 87.18% of the stock is 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.