ServiceNow (NYSE:NOW) Price Target Raised to $920.00

ServiceNow (NYSE:NOW) had its price target increased by UBS Group from $885.00 to $920.00 in a report issued on Monday, Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

Several other equities analysts also recently commented on NOW. Guggenheim reiterated a neutral rating on shares of ServiceNow in a report on Monday. BMO Capital Markets lifted their target price on shares of ServiceNow from $630.00 to $850.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Jefferies Financial Group upped their price target on shares of ServiceNow from $885.00 to $900.00 and gave the company a buy rating in a report on Wednesday, April 10th. Mizuho lifted their price objective on ServiceNow from $750.00 to $820.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Finally, Barclays increased their target price on ServiceNow from $765.00 to $870.00 and gave the company an overweight rating in a research note on Tuesday, January 23rd. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, ServiceNow has an average rating of Moderate Buy and an average target price of $780.37.

ServiceNow Trading Down 0.7 %

Shares of NYSE:NOW opened at $731.47 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $150.23 billion, a PE ratio of 86.98, a P/E/G ratio of 4.71 and a beta of 0.97. ServiceNow has a 1 year low of $427.68 and a 1 year high of $815.32. The firm has a fifty day moving average price of $766.17 and a 200 day moving average price of $700.64.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 EPS. Analysts expect that ServiceNow will post 6.16 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Paul John Smith sold 1,795 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 in the last quarter. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of ServiceNow

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sandbox Financial Partners LLC raised its position in shares of ServiceNow by 8.6% during the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after acquiring an additional 66 shares during the last quarter. Raymond James & Associates lifted its stake in ServiceNow by 5.9% in the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after buying an additional 18,442 shares during the period. Sequoia Financial Advisors LLC lifted its stake in ServiceNow by 15.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock valued at $18,175,000 after buying an additional 3,438 shares during the period. Fifth Third Bancorp boosted its holdings in ServiceNow by 4.7% during the fourth quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock worth $49,560,000 after buying an additional 3,154 shares during the last quarter. Finally, F M Investments LLC acquired a new position in shares of ServiceNow during the 3rd quarter worth about $1,624,000. 87.18% of the stock is owned by 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.