ServiceNow (NYSE:NOW) PT Raised to $850.00

ServiceNow (NYSE:NOW) had its price objective increased by JMP Securities from $825.00 to $850.00 in a research note published on Thursday, Benzinga reports. JMP Securities currently has a market outperform rating on the information technology services provider’s stock.

Several other equities research analysts also recently issued reports on NOW. StockNews.com downgraded shares of ServiceNow from a buy rating to a hold rating in a research note on Friday, April 26th. Morgan Stanley raised their price objective on shares of ServiceNow from $814.00 to $830.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. Robert W. Baird raised their target price on ServiceNow from $885.00 to $900.00 and gave the stock an outperform rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on ServiceNow from $875.00 to $900.00 and gave the stock a buy rating in a research report on Thursday. Finally, Royal Bank of Canada raised their target price on ServiceNow from $850.00 to $880.00 and gave the stock an outperform rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has an average rating of Moderate Buy and a consensus price target of $842.22.

ServiceNow Trading Down 0.1 %

Shares of ServiceNow stock opened at $827.61 on Thursday. The company’s fifty day simple moving average is $744.03 and its 200-day simple moving average is $751.55. The company has a market cap of $169.66 billion, a price-to-earnings ratio of 88.51, a PEG ratio of 5.19 and a beta of 0.99. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.17. ServiceNow has a 1 year low of $527.24 and a 1 year high of $850.33.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the company posted $0.77 earnings per share. As a group, sell-side analysts expect that ServiceNow will post 6.5 EPS for the current year.

Insider Activity

In other news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of ServiceNow

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC acquired a new stake in ServiceNow in the first quarter worth about $25,000. Versant Capital Management Inc increased its position in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. acquired a new stake in ServiceNow in the fourth quarter worth about $29,000. EntryPoint Capital LLC grew its position in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the period. Finally, AdvisorNet Financial Inc grew its position in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.