ServiceNow (NYSE:NOW) Price Target Raised to $115.00 at UBS Group

ServiceNow (NYSE:NOW) had its target price raised by stock analysts at UBS Group from $100.00 to $115.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the information technology services provider’s stock. UBS Group’s price objective would suggest a potential upside of 3.31% from the company’s previous close.

Several other brokerages have also recently commented on NOW. Truist Financial raised their price objective on shares of ServiceNow from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Morgan Stanley cut their price target on ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. HSBC cut their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Evercore raised their price target on ServiceNow from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Benchmark upped their target price on shares of ServiceNow from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $140.60.

ServiceNow Trading Up 3.4%

Shares of NOW stock opened at $111.32 on Tuesday. ServiceNow has a twelve month low of $81.24 and a twelve month high of $210.20. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $102.95 and its two-hundred day moving average is $110.65. The company has a market capitalization of $114.77 billion, a P/E ratio of 66.34, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the business earned $0.81 EPS. Equities analysts forecast that ServiceNow will post 2.34 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the sale, the director owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of ServiceNow

Large investors have recently added to or reduced their stakes in the stock. Noble Wealth Management PBC lifted its stake in shares of ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 128 shares in the last quarter. Millstone Evans Group LLC raised its holdings in shares of ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 132 shares during the period. CBIZ Investment Advisory Services LLC boosted its holdings in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 135 shares during the period. Blueline Advisors LLC purchased a new position in ServiceNow in the 4th quarter worth approximately $25,000. Finally, Measured Wealth Private Client Group LLC grew its position in ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.