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

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

NOW has been the subject of several other reports. Mizuho raised their price target on ServiceNow from $750.00 to $820.00 and gave the company a buy rating in a report on Thursday, January 25th. Citigroup raised their price objective on ServiceNow from $862.00 to $896.00 and gave the company a buy rating in a research note on Friday, January 26th. BMO Capital Markets boosted their target price on ServiceNow from $630.00 to $850.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Piper Sandler raised their price target on ServiceNow from $750.00 to $830.00 and gave the company an overweight rating in a research report on Thursday, January 25th. Finally, Truist Financial boosted their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the stock a hold rating in a research report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow presently has a consensus rating of Moderate Buy and an average price target of $780.37.

ServiceNow Trading Down 0.7 %

Shares of NOW stock opened at $731.47 on Monday. ServiceNow has a twelve month low of $427.68 and a twelve month high of $815.32. 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 business’s 50 day moving average is $766.17 and its two-hundred day moving average is $700.64. The company has a market capitalization of $150.23 billion, a P/E ratio of 86.98, a price-to-earnings-growth ratio of 4.71 and a beta of 0.97.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter last year, the business earned $0.88 EPS. The business’s revenue was up 25.6% on a year-over-year basis. Equities analysts forecast that ServiceNow will post 6.16 EPS for the current year.

Insider Activity

In related news, insider Paul John Smith sold 1,180 shares of the stock in a transaction that occurred 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 sale, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Paul John Smith sold 1,180 shares of the company’s 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 sale, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock valued at $9,940,303 in the last three months. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors and hedge funds have recently bought and sold shares of NOW. Argonautica Private Wealth Management Inc. boosted its stake in shares of ServiceNow by 1.0% in 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 grew 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 acquiring an additional 14 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its position in shares of ServiceNow by 30.4% during 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 last quarter. Optas LLC lifted its stake in shares of ServiceNow by 1.7% in the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after acquiring an additional 14 shares in the last quarter. Finally, Trust Co. of Vermont boosted its holdings 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 valued at $106,000 after purchasing an additional 15 shares during the last quarter. 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.