Mizuho Raises ServiceNow (NYSE:NOW) Price Target to $560.00

ServiceNow (NYSE:NOW) had its price objective boosted by Mizuho from $500.00 to $560.00 in a research note issued to investors on Thursday, The Fly reports. They currently have a buy rating on the information technology services provider’s stock.

A number of other equities analysts also recently weighed in on the company. Barclays boosted their price target on ServiceNow from $486.00 to $581.00 and gave the stock an overweight rating in a research report on Friday, October 9th. Zacks Investment Research cut ServiceNow from a strong-buy rating to a hold rating and set a $465.00 price objective for the company. in a report on Wednesday, July 1st. Goldman Sachs Group boosted their price objective on ServiceNow from $403.00 to $538.00 in a report on Monday, June 29th. Morgan Stanley boosted their price objective on ServiceNow from $336.00 to $467.00 and gave the stock an equal weight rating in a report on Wednesday, July 22nd. Finally, OTR Global cut ServiceNow to a positive rating in a report on Thursday, July 16th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $465.42.

Shares of NYSE NOW opened at $524.87 on Thursday. The business’s 50 day moving average price is $477.78 and its two-hundred day moving average price is $405.20. The company has a market cap of $100.67 billion, a PE ratio of 142.63, a price-to-earnings-growth ratio of 17.81 and a beta of 1.27. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.28. ServiceNow has a twelve month low of $213.99 and a twelve month high of $530.73.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 29th. The information technology services provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $1.03. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. ServiceNow had a return on equity of 11.09% and a net margin of 18.42%. The business’s revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share. As a group, research analysts anticipate that ServiceNow will post 0.99 EPS for the current fiscal year.

In other ServiceNow news, insider Chirantan Jitendra Desai sold 1,563 shares of the company’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $513.55, for a total transaction of $802,678.65. Following the completion of the sale, the insider now directly owns 29,603 shares in the company, valued at $15,202,620.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Kevin Haverty sold 6,601 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $440.43, for a total transaction of $2,907,278.43. Following the transaction, the executive now owns 16,337 shares of the company’s stock, valued at $7,195,304.91. The disclosure for this sale can be found here. Insiders have sold 74,187 shares of company stock valued at $33,294,276 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Several large investors have recently made changes to their positions in the company. CX Institutional increased its holdings in shares of ServiceNow by 16.7% during the third quarter. CX Institutional now owns 161 shares of the information technology services provider’s stock worth $78,000 after buying an additional 23 shares in the last quarter. Evercore Wealth Management LLC increased its holdings in shares of ServiceNow by 1.2% during the second quarter. Evercore Wealth Management LLC now owns 1,964 shares of the information technology services provider’s stock worth $796,000 after buying an additional 24 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of ServiceNow by 2.8% during the second quarter. Orion Portfolio Solutions LLC now owns 873 shares of the information technology services provider’s stock worth $354,000 after buying an additional 24 shares in the last quarter. Meridian Wealth Management LLC increased its holdings in shares of ServiceNow by 1.1% during the third quarter. Meridian Wealth Management LLC now owns 2,293 shares of the information technology services provider’s stock worth $1,112,000 after buying an additional 24 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of ServiceNow by 43.9% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 82 shares of the information technology services provider’s stock worth $33,000 after buying an additional 25 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Analyst Recommendations for ServiceNow (NYSE:NOW)

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