ServiceNow (NYSE:NOW) Price Target Raised to $1,000.00

ServiceNow (NYSE:NOW) had its price target lifted by stock analysts at Piper Sandler from $850.00 to $1,000.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. Piper Sandler’s target price indicates a potential upside of 4.06% from the stock’s current price.

A number of other brokerages have also recently issued reports on NOW. Deutsche Bank Aktiengesellschaft upped their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. UBS Group boosted their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada lifted their price target on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Needham & Company LLC lifted their target price on ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $955.12.

ServiceNow Trading Up 5.9 %

Shares of NYSE NOW traded up $53.32 during midday trading on Thursday, hitting $961.00. The stock had a trading volume of 448,898 shares, compared to its average volume of 1,271,211. 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 fifty-two week low of $527.24 and a fifty-two week high of $963.59. The firm has a market cap of $197.01 billion, a P/E ratio of 102.78, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. The company’s 50-day simple moving average is $880.60 and its 200 day simple moving average is $795.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. Research analysts anticipate that ServiceNow will post 6.78 EPS for the current year.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Jacqueline P. Canney sold 804 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,457,924. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,467 shares of company stock worth $4,450,447. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors and hedge funds have recently bought and sold shares of NOW. Creekmur Asset Management LLC purchased a new position in shares of ServiceNow in the 1st quarter valued at $25,000. Versant Capital Management Inc grew its stake in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the last quarter. EntryPoint Capital LLC grew its stake in 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 last quarter. Ridgewood Investments LLC acquired a new stake in ServiceNow during the 2nd quarter worth about $32,000. Finally, DT Investment Partners LLC raised its stake in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the last quarter. 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.