Analysts Set ServiceNow, Inc. (NYSE:NOW) PT at $1,022.37

ServiceNow, Inc. (NYSE:NOW) has earned a consensus recommendation of “Moderate Buy” from the twenty-eight research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, twenty-three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $1,034.96.

NOW has been the subject of a number of analyst reports. Stifel Nicolaus upped their price target on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Sanford C. Bernstein raised their price target on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Oppenheimer boosted their price objective on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday. Finally, Piper Sandler raised their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 10.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at $11,710,600. This represents a 16.85 % decrease in their position. 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 company insiders.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently bought and sold shares of NOW. Truvestments Capital LLC acquired a new position in shares of ServiceNow in the 3rd quarter worth $30,000. DT Investment Partners LLC boosted its holdings in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares during the period. Ridgewood Investments LLC purchased a new position in shares of ServiceNow in the second quarter worth approximately $32,000. Oakworth Capital Inc. lifted its position in shares of ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 14 shares in the last quarter. Finally, Semmax Financial Advisors Inc. acquired a new position in ServiceNow in the 2nd quarter worth approximately $39,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

ServiceNow stock opened at $1,121.10 on Wednesday. The firm has a fifty day moving average of $1,002.75 and a 200-day moving average of $868.23. ServiceNow has a 52-week low of $637.99 and a 52-week high of $1,157.90. 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 firm has a market capitalization of $230.95 billion, a P/E ratio of 178.64, a PEG ratio of 6.58 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the company posted $1.21 earnings per share. The firm’s revenue was up 22.2% compared to the same quarter last year. As a group, analysts predict that ServiceNow will post 7.07 EPS for the current 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.