ServiceNow (NYSE:NOW) PT Raised to $1,020.00 at Oppenheimer

ServiceNow (NYSE:NOW) had its price target lifted by Oppenheimer from $825.00 to $1,020.00 in a report issued on Thursday, Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group upped their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday. Stifel Nicolaus raised their target price on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. TD Cowen raised their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Mizuho lifted their price objective on shares of ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Truist Financial increased their target price on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $914.15.

ServiceNow Price Performance

Shares of NOW opened at $917.12 on Thursday. ServiceNow has a one year low of $527.24 and a one year high of $949.59. The stock’s fifty day moving average is $872.40 and its 200-day moving average is $790.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $188.01 billion, a price-to-earnings ratio of 98.09, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced 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. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the firm posted $0.77 EPS. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. Equities analysts anticipate that ServiceNow will post 6.78 EPS for the current year.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,267 shares of company stock valued at $5,935,447. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On ServiceNow

Hedge funds have recently bought and sold shares of the business. Swedbank AB bought a new stake in shares of ServiceNow during the 1st quarter worth about $897,908,000. Global Assets Advisory LLC bought a new stake in ServiceNow during the first quarter worth approximately $403,034,000. Vanguard Group Inc. grew its holdings in ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in shares of ServiceNow in the second quarter valued at approximately $218,786,000. Finally, Acadian Asset Management LLC lifted its stake in shares of ServiceNow by 233.4% in the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after buying an additional 271,073 shares during the last quarter. 87.18% of the stock is 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.