ServiceNow (NYSE:NOW) Given New $1,000.00 Price Target at Piper Sandler

ServiceNow (NYSE:NOW) had its price target hoisted by investment analysts at Piper Sandler from $850.00 to $1,000.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 5.17% from the company’s previous close.

A number of other analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Mizuho lifted their price target on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $900.00 to $960.00 in a report on Monday, October 21st. Barclays lifted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $970.33.

ServiceNow Price Performance

Shares of NYSE NOW opened at $950.85 on Thursday. The stock’s 50-day simple moving average is $883.09 and its 200-day simple moving average is $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 firm has a market capitalization of $195.88 billion, a PE ratio of 171.94, a price-to-earnings-growth ratio of 5.04 and a beta of 0.99. ServiceNow has a fifty-two week low of $548.44 and a fifty-two week high of $979.78.

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

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the sale, the director now owns 10,767 shares of the company’s stock, valued at approximately $8,850,474. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 135 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the transaction, the director now directly owns 10,767 shares of the company’s stock, valued at $8,850,474. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,467 shares of company stock valued at $4,450,447. 0.25% of the stock is owned by insiders.

Institutional Trading of ServiceNow

Large investors have recently made changes to their positions in the stock. Thrive Wealth Management LLC lifted its holdings in ServiceNow by 7.7% in the 1st quarter. Thrive Wealth Management LLC now owns 390 shares of the information technology services provider’s stock valued at $297,000 after purchasing an additional 28 shares in the last quarter. 180 Wealth Advisors LLC raised its position in shares of ServiceNow by 15.4% in the first quarter. 180 Wealth Advisors LLC now owns 1,226 shares of the information technology services provider’s stock valued at $935,000 after buying an additional 164 shares during the last quarter. Register Financial Advisors LLC purchased a new position in shares of ServiceNow during the first quarter valued at approximately $138,000. Webster Bank N. A. boosted its position in ServiceNow by 16.8% during the first quarter. Webster Bank N. A. now owns 4,025 shares of the information technology services provider’s stock worth $3,069,000 after acquiring an additional 580 shares during the last quarter. Finally, Independence Bank of Kentucky grew its stake in ServiceNow by 27.2% in the 1st quarter. Independence Bank of Kentucky now owns 117 shares of the information technology services provider’s stock worth $89,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds 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.