ServiceNow (NYSE:NOW) Price Target Increased to $900.00 by Analysts at Wells Fargo & Company

ServiceNow (NYSE:NOW) had its price target increased by Wells Fargo & Company from $875.00 to $900.00 in a report published on Tuesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the information technology services provider’s stock.

A number of other equities research analysts have also recently weighed in on NOW. BMO Capital Markets upped their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the stock an outperform rating in a report on Thursday, January 25th. JMP Securities increased their price objective on shares of ServiceNow from $665.00 to $825.00 and gave the company a market outperform rating in a research report on Monday, January 22nd. Stifel Nicolaus reiterated a buy rating and issued a $820.00 price target on shares of ServiceNow in a research report on Wednesday, March 20th. Mizuho raised their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the company a buy rating in a research report on Thursday, January 25th. Finally, Needham & Company LLC restated a buy rating and set a $900.00 price objective on shares of ServiceNow in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, ServiceNow currently has an average rating of Moderate Buy and an average price target of $780.37.

ServiceNow Stock Down 2.3 %

NOW opened at $714.21 on Tuesday. The company has a 50 day moving average of $764.19 and a 200 day moving average of $701.74. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow has a 12 month low of $427.68 and a 12 month high of $815.32. The company has a market cap of $146.68 billion, a PE ratio of 84.92, a price-to-earnings-growth ratio of 4.62 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter last year, the company earned $0.88 EPS. The firm’s revenue was up 25.6% compared to the same quarter last year. On average, sell-side analysts expect that ServiceNow will post 6.16 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, 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 valued at $9,940,303 in the last three months. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Large investors have recently bought and sold shares of the stock. PFG Private Wealth Management LLC acquired a new position in shares of ServiceNow in the 3rd quarter valued at $28,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow during the fourth quarter worth $29,000. First Capital Advisors Group LLC. purchased a new stake in shares of ServiceNow during the second quarter worth $29,000. High Net Worth Advisory Group LLC purchased a new stake in shares of ServiceNow during the first quarter worth $29,000. Finally, AdvisorNet Financial Inc grew its holdings in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the period. 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.