ServiceNow (NYSE:NOW) Price Target Raised to $780.00 at Truist Financial

ServiceNow (NYSE:NOW) had its target price upped by Truist Financial from $750.00 to $780.00 in a report released on Thursday morning, Benzinga reports. Truist Financial currently has a hold rating on the information technology services provider’s stock.

NOW has been the subject of a number of other research reports. KeyCorp decreased their target price on shares of ServiceNow from $950.00 to $920.00 and set an overweight rating for the company in a research note on Tuesday, July 2nd. JMP Securities reissued a market outperform rating and set a $825.00 target price on shares of ServiceNow in a research note on Tuesday, May 7th. Stifel Nicolaus raised their price target on shares of ServiceNow from $820.00 to $900.00 and gave the company a buy rating in a report on Thursday. William Blair restated an outperform rating on shares of ServiceNow in a report on Tuesday, May 7th. Finally, UBS Group cut their price target on shares of ServiceNow from $920.00 to $875.00 and set a buy rating on the stock in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of Moderate Buy and an average price target of $833.57.

ServiceNow Trading Up 13.4 %

Shares of NYSE:NOW opened at $828.79 on Thursday. The firm has a fifty day moving average of $742.77 and a two-hundred day moving average of $750.01. The firm has a market capitalization of $169.90 billion, a P/E ratio of 88.57, a price-to-earnings-growth ratio of 4.58 and a beta of 0.99. ServiceNow has a 12-month low of $527.24 and a 12-month high of $850.33. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 15.01%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. On average, equities analysts expect that ServiceNow will post 6.5 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the transaction, the insider now owns 3,112 shares in the company, valued at approximately $2,263,606.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the sale, the insider now directly owns 3,112 shares in the company, valued at approximately $2,263,606.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the sale, 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 90 days, insiders have sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of ServiceNow

Several institutional investors have recently made changes to their positions in the business. Liontrust Investment Partners LLP boosted its position in shares of ServiceNow by 605.7% during the 2nd quarter. Liontrust Investment Partners LLP now owns 134,076 shares of the information technology services provider’s stock valued at $105,474,000 after acquiring an additional 115,076 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of ServiceNow by 2.3% during the 2nd 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. Catalyst Financial Partners LLC boosted its position in ServiceNow by 5.8% in the second quarter. Catalyst Financial Partners LLC now owns 1,135 shares of the information technology services provider’s stock valued at $893,000 after buying an additional 62 shares in the last quarter. First Heartland Consultants Inc. acquired a new position in ServiceNow in the second quarter valued at about $1,596,000. Finally, Overbrook Management Corp acquired a new position in ServiceNow in the second quarter valued at about $8,280,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.