Barclays Boosts ServiceNow (NYSE:NOW) Price Target to $980.00

ServiceNow (NYSE:NOW) had its price target raised by Barclays from $890.00 to $980.00 in a research report released on Friday, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

NOW has been the topic of a number of other research reports. Citigroup lifted their price objective on ServiceNow from $909.00 to $911.00 and gave the company a buy rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. boosted their price target on ServiceNow from $780.00 to $820.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. JMP Securities boosted their price target on ServiceNow from $825.00 to $850.00 and gave the stock a market outperform rating in a research note on Thursday, July 25th. Evercore ISI boosted their price target on ServiceNow from $850.00 to $950.00 and gave the stock an outperform rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets boosted their price target on ServiceNow from $860.00 to $1,025.00 and gave the stock an outperform rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of Moderate Buy and a consensus target price of $880.04.

ServiceNow Price Performance

Shares of NOW opened at $938.59 on Friday. ServiceNow has a twelve month low of $527.24 and a twelve month high of $949.00. The stock’s 50 day moving average is $861.16 and its two-hundred day moving average is $786.43. The firm has a market capitalization of $192.41 billion, a PE ratio of 100.38, a P/E/G ratio of 5.63 and a beta of 0.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating 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 analyst estimates of $2.61 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. Research analysts anticipate that ServiceNow will post 6.78 earnings per share for the current year.

Insiders Place Their Bets

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock valued at $5,608,936 in the last quarter. 0.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after buying an additional 331,797 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of ServiceNow by 18.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after buying an additional 271,153 shares during the period. Bank of New York Mellon Corp raised its position in shares of ServiceNow by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after buying an additional 34,855 shares during the period. Fisher Asset Management LLC raised its position in ServiceNow by 7.5% in the fourth quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider’s stock valued at $1,023,315,000 after purchasing an additional 101,485 shares during the period. Finally, Swedbank AB raised its position in ServiceNow by 10.3% in the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after purchasing an additional 120,983 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

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.