ServiceNow (NYSE:NOW) Price Target Raised to $990.00 at Stifel Nicolaus

ServiceNow (NYSE:NOW) had its target price boosted by Stifel Nicolaus from $900.00 to $990.00 in a report issued on Thursday morning, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Other research analysts have also issued reports about the stock. UBS Group upped their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Barclays upped their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday. Mizuho boosted their price target on shares of ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, KeyCorp lowered their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $970.33.

ServiceNow Stock Down 0.6 %

NOW opened at $950.85 on Thursday. The company has a fifty day moving average price of $885.56 and a 200-day moving average price of $797.66. The firm has a market capitalization of $194.92 billion, a P/E ratio of 101.70, 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 one year low of $548.44 and a one year high of $979.78.

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

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the sale, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the sale, the insider now owns 4,019 shares in the company, valued at $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 is available through the SEC website. Also, insider Paul John Smith sold 187 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,467 shares of company stock worth $4,450,447. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after buying an additional 331,797 shares during the last quarter. Bank of New York Mellon Corp lifted its position in ServiceNow by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after purchasing an additional 34,855 shares during the period. Swedbank AB lifted its position in ServiceNow by 10.3% during the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after purchasing an additional 120,983 shares during the period. International Assets Investment Management LLC lifted its position in ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in ServiceNow by 21.5% during the second quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock valued at $750,513,000 after purchasing an additional 168,734 shares during the period. Hedge funds and other institutional investors 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.