Robert W. Baird Boosts ServiceNow (NYSE:NOW) Price Target to $900.00

ServiceNow (NYSE:NOW) had its price target raised by Robert W. Baird from $885.00 to $900.00 in a research report sent to investors on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the information technology services provider’s stock.

NOW has been the subject of several other reports. Citigroup raised their target price on shares of ServiceNow from $909.00 to $911.00 and gave the company a buy rating in a report on Wednesday, July 17th. UBS Group cut their price objective on ServiceNow from $920.00 to $875.00 and set a buy rating for the company in a research report on Thursday, April 25th. JMP Securities reiterated a market outperform rating and set a $825.00 target price on shares of ServiceNow in a report on Tuesday, May 7th. Stifel Nicolaus reissued a buy rating and set a $820.00 price target on shares of ServiceNow in a research report on Tuesday, July 2nd. Finally, Wolfe Research restated an outperform rating and issued a $830.00 price objective on shares of ServiceNow in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $842.22.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $827.61 on Thursday. The firm has a market capitalization of $169.66 billion, a price-to-earnings ratio of 88.51, a price-to-earnings-growth ratio of 5.19 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.05. The business’s 50 day simple moving average is $744.03 and its 200-day simple moving average is $751.29. ServiceNow has a 12 month low of $527.24 and a 12 month high of $850.33.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the business earned $0.77 earnings per share. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts forecast that ServiceNow will post 6.5 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 125 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Bedi sold 215 shares of the company’s 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 completion of the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The disclosure for this sale can be found here. Insiders have sold a total of 5,530 shares of company stock worth $3,997,012 in the last three months. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of ServiceNow

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Creekmur Asset Management LLC acquired a new stake in ServiceNow in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc lifted its holdings in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the period. EntryPoint Capital LLC boosted its position in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. University of Texas Texas AM Investment Managment Co. bought a new stake in ServiceNow during the fourth quarter worth approximately $29,000. Finally, AdvisorNet Financial Inc boosted its stake in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.