ServiceNow (NYSE:NOW – Get Free Report) had its target price increased by equities researchers at Wells Fargo & Company from $935.00 to $1,025.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. Wells Fargo & Company’s price objective points to a potential upside of 13.14% from the company’s current price.
A number of other analysts also recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a research report on Monday, September 9th. Truist Financial lifted their price target on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Citigroup increased their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. TD Cowen boosted their target price on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets upped their target price on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $859.04.
ServiceNow Price Performance
Shares of NYSE:NOW traded down $11.74 on Monday, reaching $905.94. The company’s stock had a trading volume of 1,118,288 shares, compared to its average volume of 1,284,606. The company has a 50-day simple moving average of $848.43 and a 200 day simple moving average of $780.85. ServiceNow has a 52-week low of $527.24 and a 52-week high of $945.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $185.72 billion, a P/E ratio of 96.89, a PEG ratio of 5.55 and a beta of 0.99.
ServiceNow (NYSE:NOW – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.28. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 earnings per share. As a group, equities research analysts anticipate that ServiceNow will post 6.78 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred 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 transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction on 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 owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is owned by corporate insiders.
Institutional Trading of ServiceNow
Large investors have recently bought and sold shares of the stock. M&G Plc acquired a new stake in shares of ServiceNow during the first quarter worth $11,030,000. AXA S.A. grew its stake in ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares during the last quarter. HWG Holdings LP acquired a new position in shares of ServiceNow in the second quarter valued at about $2,679,000. New Mexico Educational Retirement Board raised its stake in shares of ServiceNow by 9.4% in the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of ServiceNow by 375.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after purchasing an additional 1,078 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.