Brokerages Set ServiceNow, Inc. (NYSE:NOW) Target Price at $1,022.37

Shares of ServiceNow, Inc. (NYSE:NOW) have been assigned an average recommendation of “Moderate Buy” from the twenty-eight analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $1,034.96.

NOW has been the topic of several research analyst reports. Stifel Nicolaus boosted their price objective on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Mizuho raised their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday. Truist Financial increased their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Thursday. JPMorgan Chase & Co. boosted 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, October 24th. Finally, Royal Bank of Canada increased their price objective on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th.

Insider Activity at ServiceNow

In related news, insider Kevin Thomas Mcbride sold 100 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total value of $102,397.00. Following the completion of the transaction, the insider now directly owns 3,457 shares of the company’s stock, valued at $3,539,864.29. This trade represents a 2.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. This represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock worth $20,861,626 in the last three months. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NOW. Polymer Capital Management HK LTD boosted its stake in ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after buying an additional 981 shares during the last quarter. AXA S.A. raised its stake in ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after purchasing an additional 4,271 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in shares of ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after purchasing an additional 138 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after buying an additional 765 shares during the last quarter. Finally, HWG Holdings LP purchased a new position in shares of ServiceNow in the 2nd quarter worth $2,679,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 2.4 %

Shares of NYSE:NOW opened at $1,121.10 on Wednesday. The company has a market capitalization of $230.95 billion, a price-to-earnings ratio of 178.64, a PEG ratio of 6.58 and a beta of 0.99. ServiceNow has a 12-month low of $637.99 and a 12-month high of $1,157.90. The business has a 50-day moving average price of $1,002.75 and a 200 day moving average price of $868.23. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the business earned $1.21 earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. Sell-side analysts expect that ServiceNow will post 7.07 EPS for the current year.

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.