Brokerages Set ServiceNow, Inc. (NYSE:NOW) Price Target at $923.00

ServiceNow, Inc. (NYSE:NOW) has earned an average recommendation of “Moderate Buy” from the twenty-eight analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twenty-five have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $970.22.

Several research analysts have recently weighed in on NOW shares. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday. Stifel Nicolaus boosted their target price on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday. Sanford C. Bernstein raised their price target on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday. JMP Securities upped their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Finally, Mizuho raised their target price on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,457,924. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,457,924. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 353 shares of the 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,467 shares of company stock worth $4,450,447 over the last three months. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NOW. Vanguard Group Inc. increased its holdings in ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after purchasing an additional 331,797 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of ServiceNow by 2.3% in 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 acquiring an additional 34,855 shares in the last quarter. Swedbank AB lifted its stake in ServiceNow by 10.3% in the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after acquiring an additional 120,983 shares during the period. International Assets Investment Management LLC grew its holdings in ServiceNow by 89,137.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after acquiring an additional 1,183,739 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in ServiceNow by 21.5% during the 2nd 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. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 5.4 %

ServiceNow stock opened at $956.40 on Tuesday. ServiceNow has a 12 month low of $527.24 and a 12 month high of $979.78. The stock has a fifty day simple moving average of $880.60 and a two-hundred day simple moving average of $795.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a market cap of $197.02 billion, a price-to-earnings ratio of 172.95, 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 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. Equities analysts predict that ServiceNow will post 7.41 EPS for the current fiscal year.

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.