ServiceNow (NYSE:NOW) Price Target Raised to $920.00

ServiceNow (NYSE:NOW) had its price target hoisted by UBS Group from $885.00 to $920.00 in a research report released on Monday, Benzinga reports. UBS Group currently has a buy rating on the information technology services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Barclays lifted their price target on shares of ServiceNow from $765.00 to $870.00 and gave the company an overweight rating in a report on Tuesday, January 23rd. BMO Capital Markets lifted their price target on shares of ServiceNow from $630.00 to $850.00 and gave the company an outperform rating in a report on Thursday, January 25th. Jefferies Financial Group lifted their price target on shares of ServiceNow from $885.00 to $900.00 and gave the company a buy rating in a report on Wednesday, April 10th. Oppenheimer lifted their price target on shares of ServiceNow from $750.00 to $800.00 and gave the company an outperform rating in a report on Thursday, January 18th. Finally, Piper Sandler lifted their price target on shares of ServiceNow from $750.00 to $830.00 and gave the company an overweight rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, ServiceNow presently has a consensus rating of Moderate Buy and an average price target of $780.00.

ServiceNow Stock Performance

NOW opened at $735.68 on Monday. 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 company has a market cap of $151.09 billion, a price-to-earnings ratio of 87.48, a PEG ratio of 4.65 and a beta of 0.97. The company’s 50 day moving average is $767.53 and its 200 day moving average is $700.42. ServiceNow has a 12-month low of $427.68 and a 12-month high of $815.32.

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

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock valued at $9,940,303 over the last three months. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Argonautica Private Wealth Management Inc. boosted its stake in shares of ServiceNow by 1.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after purchasing an additional 13 shares during the period. Wealth Management Partners LLC boosted its stake in shares of ServiceNow by 2.7% during the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after purchasing an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group lifted its stake in ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 14 shares during the period. Trust Co. of Vermont lifted its stake in ServiceNow by 8.6% in the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after acquiring an additional 15 shares during the period. Finally, Claro Advisors LLC lifted its stake in ServiceNow by 3.6% in the fourth quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock worth $302,000 after acquiring an additional 15 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

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.