ServiceNow (NYSE:NOW) PT Raised to $1,075.00 at Needham & Company LLC

ServiceNow (NYSE:NOW) had its price target upped by analysts at Needham & Company LLC from $900.00 to $1,075.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s price target suggests a potential upside of 13.06% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus increased their target price on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their price target on shares of ServiceNow from $935.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Mizuho raised their price objective on shares of ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $900.00 to $960.00 in a report on Monday, October 21st. 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $970.33.

ServiceNow Stock Performance

NYSE:NOW opened at $950.85 on Thursday. The firm has a market cap of $195.88 billion, a price-to-earnings ratio of 171.94, a price-to-earnings-growth ratio of 5.04 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow has a 1-year low of $548.44 and a 1-year high of $979.78. The firm’s fifty day moving average price is $883.09 and its 200 day moving average price is $796.21.

ServiceNow (NYSE:NOW) last issued its earnings results 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 business had revenue of $2.80 billion for 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 business’s quarterly 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 earnings per share. On average, sell-side analysts expect that ServiceNow will post 7.41 EPS for the current year.

Insider Activity

In related news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now directly owns 4,019 shares in the company, valued at approximately $3,319,372.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction 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 transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,467 shares of company stock valued at $4,450,447 over the last quarter. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Large investors have recently modified their holdings of the company. First Affirmative Financial Network increased its position in ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of ServiceNow by 14.6% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after acquiring an additional 12 shares during the period. Morling Financial Advisors LLC lifted its holdings in shares of ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 13 shares in the last quarter. CX Institutional boosted its position in ServiceNow by 1.2% during the 3rd quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock worth $974,000 after purchasing an additional 13 shares during the period. Finally, Optas LLC increased its holdings in ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after purchasing an additional 14 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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.