ServiceNow (NYSE:NOW) Price Target Raised to $900.00

ServiceNow (NYSE:NOW) had its price target lifted by equities research analysts at Wells Fargo & Company from $875.00 to $900.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 22.36% from the company’s current price.

A number of other research firms also recently commented on NOW. Piper Sandler boosted their price target on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Truist Financial boosted their price target on ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Royal Bank of Canada boosted their price target on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. UBS Group lifted their target price on ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a research report on Monday. Finally, Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research report on Monday. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $780.00.

ServiceNow Stock Down 4.3 %

NOW opened at $735.53 on Tuesday. ServiceNow has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $151.06 billion, a P/E ratio of 87.46, a P/E/G ratio of 4.86 and a beta of 0.97. The stock has a fifty day moving average of $769.28 and a 200-day moving average of $698.87.

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

Insider Buying and Selling

In related news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. 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 quarter. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

A number of hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of ServiceNow during the fourth quarter valued at about $1,648,259,000. Moneta Group Investment Advisors LLC raised its holdings in shares of ServiceNow by 69,897.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock valued at $332,386,000 after purchasing an additional 854,846 shares during the period. International Assets Investment Management LLC raised its holdings in shares of ServiceNow by 69,354.6% during the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after purchasing an additional 820,465 shares during the period. FMR LLC raised its holdings in shares of ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after purchasing an additional 595,697 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of ServiceNow by 129.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock valued at $386,082,000 after purchasing an additional 560,908 shares during the period. 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.