Robert W. Baird Boosts ServiceNow (NYSE:NOW) Price Target to $885.00

ServiceNow (NYSE:NOW) had its price target hoisted by Robert W. Baird from $870.00 to $885.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

NOW has been the topic of several other reports. Morgan Stanley raised their price objective on ServiceNow from $814.00 to $830.00 and gave the company an overweight rating in a research note on Thursday, April 25th. Truist Financial raised their price objective on ServiceNow from $700.00 to $750.00 and gave the company a hold rating in a research note on Thursday, January 25th. Oppenheimer lifted their price target on ServiceNow from $750.00 to $800.00 and gave the company an outperform rating in a research note on Thursday, January 18th. Guggenheim reissued a neutral rating on shares of ServiceNow in a research note on Monday, April 15th. Finally, Stifel Nicolaus reissued a buy rating and set a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $807.88.

ServiceNow Stock Performance

NOW opened at $713.53 on Tuesday. The firm has a market cap of $146.54 billion, a P/E ratio of 76.31, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. ServiceNow has a 52-week low of $429.05 and a 52-week high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. The business’s fifty day moving average is $751.22 and its 200-day moving average is $717.54.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the transaction, the insider now directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,369 shares of company stock worth $8,538,300. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Institutional investors and hedge funds have recently bought and sold shares of the business. University of Texas Texas AM Investment Managment Co. purchased a new stake in ServiceNow in the 4th quarter worth approximately $29,000. AdvisorNet Financial Inc raised its position in shares of ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Sachetta LLC bought a new position in shares of ServiceNow in the 4th quarter worth approximately $35,000. Disciplined Equity Management Inc. bought a new position in shares of ServiceNow in the 4th quarter worth approximately $35,000. Finally, PFG Private Wealth Management LLC bought a new position in shares of ServiceNow in the 1st quarter worth approximately $38,000. 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.