Brokerages Set ServiceNow, Inc. (NYSE:NOW) Price Target at $974.04

ServiceNow, Inc. (NYSE:NOW) has been assigned an average rating of “Moderate Buy” from the twenty-eight analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $974.04.

Several research analysts have issued reports on the company. Royal Bank of Canada upped their price objective on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus raised their price target on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. KeyCorp boosted their price objective on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Sanford C. Bernstein raised their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $900.00 to $960.00 in a report on Monday, October 21st.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This represents a 33.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,231 shares of company stock worth $4,947,292. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

A number of large investors have recently added to or reduced their stakes in NOW. Quent Capital LLC lifted its stake in shares of ServiceNow by 4.1% during the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after buying an additional 30 shares during the last quarter. M&G Plc acquired a new stake in ServiceNow during the 1st quarter worth approximately $11,030,000. Nicolet Advisory Services LLC boosted its stake in ServiceNow by 26.8% in the 1st quarter. Nicolet Advisory Services LLC now owns 600 shares of the information technology services provider’s stock valued at $469,000 after purchasing an additional 127 shares during the period. Intech Investment Management LLC boosted its position in shares of ServiceNow by 411.5% in the first quarter. Intech Investment Management LLC now owns 5,938 shares of the information technology services provider’s stock valued at $4,527,000 after acquiring an additional 4,777 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of ServiceNow by 233.4% in the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after acquiring an additional 271,073 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NOW stock opened at $1,004.53 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s fifty day simple moving average is $935.45 and its 200 day simple moving average is $827.30. ServiceNow has a one year low of $637.99 and a one year high of $1,061.66. The firm has a market cap of $206.93 billion, a price-to-earnings ratio of 156.23, a P/E/G ratio of 5.80 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.21 EPS. On average, analysts expect that ServiceNow will post 7.07 earnings per share for the current fiscal year.

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.