ServiceNow (NYSE:NOW) Price Target Increased to $990.00 by Analysts at Stifel Nicolaus

ServiceNow (NYSE:NOW) had its price objective lifted by Stifel Nicolaus from $900.00 to $990.00 in a research report sent to investors on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the information technology services provider’s stock.

Several other research analysts have also commented on the company. Truist Financial lifted their price target on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday. Needham & Company LLC boosted their target price on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday. Guggenheim reissued a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. Royal Bank of Canada boosted their target price on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays boosted their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $970.22.

ServiceNow Stock Down 0.3 %

Shares of NYSE NOW traded down $2.53 during midday trading on Thursday, hitting $954.05. 343,170 shares of the company’s stock were exchanged, compared to its average volume of 1,280,989. 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 twelve month low of $548.44 and a twelve month high of $979.78. The company has a market cap of $196.53 billion, a PE ratio of 172.95, a P/E/G ratio of 5.04 and a beta of 0.99. The firm’s fifty day simple moving average is $880.60 and its 200-day simple moving average is $795.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 earnings per share. Research analysts predict that ServiceNow will post 7.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,457,924. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was 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 of the company’s stock, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 804 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,457,924. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,467 shares of company stock worth $4,450,447 over the last three months. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On ServiceNow

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC boosted its holdings in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares during the last quarter. Swedbank AB purchased a new position in ServiceNow in the first quarter valued at about $897,908,000. Vanguard Group Inc. boosted its holdings in ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in ServiceNow in the second quarter valued at about $218,786,000. Finally, Acadian Asset Management LLC boosted its holdings in ServiceNow by 233.4% in the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after purchasing an additional 271,073 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.