ServiceNow (NYSE:NOW) Price Target Raised to $885.00 at Robert W. Baird

ServiceNow (NYSE:NOW) had its price target hoisted by Robert W. Baird from $870.00 to $885.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets decreased their price objective on ServiceNow from $850.00 to $830.00 and set an outperform rating on the stock in a report on Thursday, April 25th. The Goldman Sachs Group boosted their target price on ServiceNow from $800.00 to $910.00 and gave the stock a buy rating in a report on Thursday, January 25th. Stifel Nicolaus reissued a buy rating and issued a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. JMP Securities reissued a market outperform rating and issued a $825.00 target price on shares of ServiceNow in a report on Tuesday, April 23rd. Finally, Oppenheimer boosted their target price on ServiceNow from $750.00 to $800.00 and gave the stock an outperform rating in a report on Thursday, January 18th. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $807.88.

ServiceNow Stock Down 1.8 %

NYSE NOW opened at $713.53 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $751.22 and its two-hundred day moving average is $717.54. The company has a market capitalization of $146.54 billion, a price-to-earnings ratio of 76.31, a PEG ratio of 4.50 and a beta of 0.98. ServiceNow has a 1-year low of $429.05 and a 1-year high of $815.32.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the 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 sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The disclosure for this sale can be found here. Insiders sold 11,369 shares of company stock worth $8,538,300 in the last ninety days. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after purchasing an additional 122,577 shares in the last quarter. FMR LLC increased its holdings in shares of ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of ServiceNow by 2.2% in the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after purchasing an additional 53,719 shares during the last quarter. Norges Bank bought a new stake in shares of ServiceNow in the fourth quarter worth about $1,648,259,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of ServiceNow by 3.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after purchasing an additional 81,028 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

About ServiceNow

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.