Robert W. Baird Boosts ServiceNow (NYSE:NOW) Price Target to $975.00

ServiceNow (NYSE:NOW) had its price target hoisted by Robert W. Baird from $900.00 to $975.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the information technology services provider’s stock. Robert W. Baird’s target price would suggest a potential upside of 2.54% from the stock’s current price.

A number of other equities analysts also recently issued reports on NOW. Wells Fargo & Company raised their price target on ServiceNow from $935.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Needham & Company LLC restated a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research note on Monday, September 9th. Guggenheim reiterated a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. Barclays raised their price objective on shares of ServiceNow from $890.00 to $980.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, BMO Capital Markets upped their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $970.33.

ServiceNow Price Performance

NYSE NOW opened at $950.85 on Thursday. ServiceNow has a one year low of $548.44 and a one year high of $979.78. The stock has a 50-day moving average of $883.09 and a 200 day moving average of $796.21. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $195.88 billion, a price-to-earnings ratio of 171.94, a PEG ratio of 5.04 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. During the same period in the previous year, the company earned $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts forecast that ServiceNow will post 7.41 EPS for the current year.

Insider Activity at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,467 shares of company stock valued at $4,450,447 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creekmur Asset Management LLC purchased a new stake in ServiceNow in the 1st quarter worth about $25,000. Versant Capital Management Inc raised its holdings in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the period. EntryPoint Capital LLC lifted its stake in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares during the last quarter. Ridgewood Investments LLC bought a new position in ServiceNow in the 2nd quarter valued at $32,000. Finally, DT Investment Partners LLC increased its stake in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.