ServiceNow (NYSE:NOW) PT Raised to $850.00

ServiceNow (NYSE:NOW) had its price objective upped by stock analysts at Piper Sandler from $830.00 to $850.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. Piper Sandler’s price target points to a potential upside of 16.31% from the company’s current price.

A number of other equities analysts have also issued reports on the company. William Blair reissued an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. UBS Group reduced their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Robert W. Baird increased their target price on ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. JMP Securities restated a “market outperform” rating and set a $825.00 price target on shares of ServiceNow in a research note on Tuesday, May 7th. Finally, BMO Capital Markets decreased their price objective on ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $819.60.

ServiceNow Stock Performance

ServiceNow stock opened at $730.80 on Thursday. The stock has a market cap of $149.81 billion, a P/E ratio of 78.16, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99. The stock has a 50 day moving average of $741.36 and a 200-day moving average of $749.47. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow has a 52 week low of $527.24 and a 52 week high of $815.32.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. On average, analysts expect that ServiceNow will post 6.5 EPS for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now owns 15,892 shares in the company, valued at $11,124,400. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors and hedge funds have recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow in the first quarter valued at about $25,000. Versant Capital Management Inc boosted its stake in 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 during the period. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of ServiceNow during the fourth quarter worth about $29,000. EntryPoint Capital LLC grew its position in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its position in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

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.