Piper Sandler Raises ServiceNow (NYSE:NOW) Price Target to $1,200.00

ServiceNow (NYSE:NOW) had its target price lifted by Piper Sandler from $1,000.00 to $1,200.00 in a research report sent to investors on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the information technology services provider’s stock.

A number of other equities research analysts also recently issued reports on NOW. Jefferies Financial Group boosted their target price on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Sanford C. Bernstein boosted their price objective on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. UBS Group increased their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their target price on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Mizuho upped their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,061.04.

ServiceNow Trading Up 0.3 %

Shares of ServiceNow stock opened at $1,076.73 on Monday. ServiceNow has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The business’s fifty day moving average is $1,056.15 and its two-hundred day moving average is $915.86. 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 cap of $221.81 billion, a PE ratio of 167.45, a P/E/G ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results 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 firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the firm posted $1.21 earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. Analysts anticipate that ServiceNow will post 7.07 earnings per share for the current year.

Insider Activity

In other news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 313 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This trade represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Polymer Capital Management HK LTD lifted its holdings in ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after purchasing an additional 981 shares during the period. AXA S.A. raised its position in shares of ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after buying an additional 4,271 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in shares of ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after acquiring an additional 138 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after acquiring an additional 765 shares in the last quarter. Finally, HWG Holdings LP acquired a new position in shares of ServiceNow during the second quarter valued at approximately $2,679,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Company Profile

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.