Analysts Set ServiceNow, Inc. (NYSE:NOW) PT at $814.48

ServiceNow, Inc. (NYSE:NOW) has been given an average recommendation of “Moderate Buy” by the twenty-five brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and twenty-three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $814.48.

A number of research firms have recently commented on NOW. Wells Fargo & Company lifted their target price on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Wolfe Research reiterated an “outperform” rating and issued a $830.00 target price on shares of ServiceNow in a research note on Friday, May 10th. Citigroup raised their price target on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a research note on Tuesday. Finally, KeyCorp reduced their price objective on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a report on Thursday, April 25th.

ServiceNow Trading Up 2.1 %

NYSE:NOW opened at $749.98 on Wednesday. ServiceNow has a 52 week low of $527.24 and a 52 week high of $815.32. The firm has a 50-day moving average price of $723.59 and a two-hundred day moving average price of $738.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $153.75 billion, a price-to-earnings ratio of 80.21, a price-to-earnings-growth ratio of 4.58 and a beta of 0.96.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. On average, equities analysts expect that ServiceNow will post 6.5 earnings per share for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The transaction was disclosed in a filing with the SEC, which is available through this link. In other ServiceNow news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul John Smith sold 125 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the transaction, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently modified their holdings of NOW. Creekmur Asset Management LLC purchased a new position in shares of ServiceNow during the first quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in ServiceNow in the fourth quarter valued at $29,000. EntryPoint Capital LLC increased its position in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the period. AdvisorNet Financial Inc raised its holdings in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Finally, Disciplined Equity Management Inc. purchased a new stake in shares of ServiceNow in the 4th quarter worth about $35,000. 87.18% of the stock is owned by 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.