ServiceNow (NYSE:NOW) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

ServiceNow (NYSE:NOW) had its price objective upped by equities research analysts at Jefferies Financial Group from $1,100.00 to $1,250.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 18.30% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. KeyCorp increased their price target on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Barclays increased their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Truist Financial upped their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. UBS Group increased their price objective 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. Finally, Sanford C. Bernstein boosted their target price on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $999.07.

ServiceNow Trading Up 0.8 %

Shares of ServiceNow stock opened at $1,056.62 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $968.22 and its 200-day simple moving average is $851.60. The stock has a market cap of $217.66 billion, a P/E ratio of 164.33, a P/E/G ratio of 6.02 and a beta of 0.99. ServiceNow has a 1-year low of $637.99 and a 1-year high of $1,072.84.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 16.03% and a net margin of 12.77%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period last year, the company earned $1.21 EPS. Analysts predict that ServiceNow will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. The trade was a 7.90 % 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 76 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,629 shares of company stock worth $20,861,626. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in ServiceNow by 4.2% during the second quarter. Park Avenue Securities LLC now owns 10,133 shares of the information technology services provider’s stock worth $7,971,000 after buying an additional 413 shares in the last quarter. Fiduciary Alliance LLC acquired a new position in ServiceNow during the second quarter worth about $258,000. Cullinan Associates Inc. increased its holdings in ServiceNow by 90.9% in the second quarter. Cullinan Associates Inc. now owns 2,100 shares of the information technology services provider’s stock valued at $1,652,000 after buying an additional 1,000 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its position in shares of ServiceNow by 106.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,029 shares of the information technology services provider’s stock valued at $3,169,000 after acquiring an additional 2,079 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.