ServiceNow (NYSE:NOW) PT Raised to $1,045.00 at Royal Bank of Canada

ServiceNow (NYSE:NOW) had its price objective lifted by stock analysts at Royal Bank of Canada from $985.00 to $1,045.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the information technology services provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 9.90% from the company’s current price.

Several other brokerages have also weighed in on NOW. Citigroup increased their target price on shares of ServiceNow from $915.00 to $1,068.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. JMP Securities lifted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Stifel Nicolaus upped their price target on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday. Oppenheimer lifted their price objective on ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $970.33.

ServiceNow Stock Performance

ServiceNow stock opened at $950.85 on Thursday. The firm has a 50 day simple moving average of $883.09 and a 200-day simple moving average of $796.21. The stock has a market cap of $195.88 billion, a price-to-earnings ratio of 171.94, a price-to-earnings-growth ratio of 5.04 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow has a 1-year low of $548.44 and a 1-year high of $979.78.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, analysts expect that ServiceNow will post 7.41 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now owns 3,779 shares in the company, valued at $3,006,496.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,467 shares of company stock worth $4,450,447 over the last three months. Insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

A number of large investors have recently bought and sold shares of the business. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow in the first quarter valued at about $25,000. Versant Capital Management Inc grew its stake in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the last quarter. EntryPoint Capital LLC increased its holdings in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of ServiceNow during the second quarter worth approximately $32,000. Finally, DT Investment Partners LLC grew its position in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the last quarter. Institutional investors and hedge funds 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.