ServiceNow (NYSE:NOW) Price Target Increased to $1,000.00 by Analysts at Barclays

ServiceNow (NYSE:NOW) had its target price hoisted by Barclays from $980.00 to $1,000.00 in a research note issued to investors on Thursday, Benzinga reports. Barclays currently has an overweight rating on the information technology services provider’s stock.

Several other equities analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group upped their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Cowen increased their target price on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company lifted their price target on shares of ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Canaccord Genuity Group increased their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $970.22.

ServiceNow Stock Performance

ServiceNow stock traded up $4.59 during mid-day trading on Thursday, hitting $961.17. The company had a trading volume of 120,936 shares, compared to its average volume of 1,279,915. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $198.00 billion, a price-to-earnings ratio of 172.95, a P/E/G ratio of 5.04 and a beta of 0.99. The company’s fifty day moving average is $880.60 and its 200-day moving average is $795.09. ServiceNow has a 12-month low of $548.44 and a 12-month high of $979.78.

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

Insider Activity

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on 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 transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. 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 accessible through this link. In other ServiceNow news, insider Paul John Smith sold 187 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the transaction, the insider now owns 3,779 shares of the company’s stock, valued at $3,006,496.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,467 shares of company stock valued at $4,450,447. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of ServiceNow

Several institutional investors have recently added to or reduced their stakes in the stock. Thrive Wealth Management LLC boosted its holdings in ServiceNow by 7.7% during the 1st quarter. Thrive Wealth Management LLC now owns 390 shares of the information technology services provider’s stock valued at $297,000 after acquiring an additional 28 shares during the period. 180 Wealth Advisors LLC increased its stake in ServiceNow by 15.4% during the 1st quarter. 180 Wealth Advisors LLC now owns 1,226 shares of the information technology services provider’s stock worth $935,000 after buying an additional 164 shares during the period. Register Financial Advisors LLC acquired a new stake in ServiceNow during the 1st quarter worth approximately $138,000. Webster Bank N. A. boosted its position in ServiceNow by 16.8% in the 1st quarter. Webster Bank N. A. now owns 4,025 shares of the information technology services provider’s stock valued at $3,069,000 after buying an additional 580 shares during the period. Finally, Independence Bank of Kentucky grew its stake in shares of ServiceNow by 27.2% in the first quarter. Independence Bank of Kentucky now owns 117 shares of the information technology services provider’s stock worth $89,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds 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.