ServiceNow, Inc. (NYSE:NOW) Receives $1,053.89 Average Price Target from Brokerages

Shares of ServiceNow, Inc. (NYSE:NOW) have been given an average rating of “Moderate Buy” by the twenty-nine research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $1,061.04.

A number of analysts have recently weighed in on NOW shares. Truist Financial upped their price objective on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Raymond James initiated coverage on ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target on the stock. Piper Sandler lifted their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday. Sanford C. Bernstein upped their target price on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC lifted their price target on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Monday, November 25th.

ServiceNow Stock Down 2.2 %

Shares of NYSE NOW opened at $1,052.82 on Friday. ServiceNow has a 1 year low of $637.99 and a 1 year high of $1,157.90. The company has a market capitalization of $216.88 billion, a P/E ratio of 163.74, a P/E/G ratio of 6.43 and a beta of 0.99. The company has a 50 day simple moving average of $1,058.15 and a 200-day simple moving average of $917.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results 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 business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 EPS. On average, equities research analysts predict that ServiceNow will post 7.07 earnings per share for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the transaction, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. The trade was a 2.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. 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. 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 stock. Polymer Capital Management HK LTD lifted its holdings in ServiceNow by 57.0% during 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 position in shares of ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after acquiring an additional 4,271 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after purchasing an additional 138 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after purchasing an additional 765 shares during the period. Finally, HWG Holdings LP bought a new stake in ServiceNow during the second quarter valued at $2,679,000. 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.