ServiceNow (NYSE:NOW) PT Raised to $900.00

ServiceNow (NYSE:NOW) had its price target increased by Wells Fargo & Company from $875.00 to $900.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 22.36% from the company’s previous close.

A number of other brokerages have also recently commented on NOW. Mizuho increased their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Robert W. Baird increased their price objective on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Stifel Nicolaus restated a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Needham & Company LLC restated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a report on Tuesday. Finally, Guggenheim restated a “neutral” rating on shares of ServiceNow in a report on Monday. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $780.00.

ServiceNow Trading Down 4.3 %

Shares of NOW opened at $735.53 on Tuesday. ServiceNow has a twelve month low of $427.68 and a twelve month high of $815.32. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $151.06 billion, a P/E ratio of 87.46, a PEG ratio of 4.86 and a beta of 0.97. The firm’s 50-day moving average is $769.28 and its two-hundred day moving average is $698.87.

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

Insider Activity

In other news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on 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 sale, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

A number of hedge funds have recently made changes to their positions in NOW. Norges Bank acquired a new stake in shares of ServiceNow during the fourth quarter worth approximately $1,648,259,000. Moneta Group Investment Advisors LLC boosted its holdings in ServiceNow by 69,897.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock worth $332,386,000 after purchasing an additional 854,846 shares during the period. International Assets Investment Management LLC boosted its holdings in ServiceNow by 69,354.6% in the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after purchasing an additional 820,465 shares during the period. FMR LLC boosted its holdings in ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in ServiceNow by 129.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock worth $386,082,000 after purchasing an additional 560,908 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.