ServiceNow (NYSE:NOW) Price Target Increased to $1,000.00 by Analysts at JMP Securities

ServiceNow (NYSE:NOW) had its price target raised by JMP Securities from $850.00 to $1,000.00 in a report issued on Thursday, Benzinga reports. The firm currently has a market outperform rating on the information technology services provider’s stock.

NOW has been the topic of a number of other reports. Evercore ISI upped their price target on shares of ServiceNow from $850.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Citigroup upped their target price on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research note on Monday, September 9th. Wells Fargo & Company boosted their price target on ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Stifel Nicolaus raised their price objective on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $914.15.

ServiceNow Stock Up 0.5 %

Shares of NYSE NOW opened at $921.75 on Thursday. ServiceNow has a 1 year low of $527.24 and a 1 year high of $949.59. The firm has a 50-day simple moving average of $874.61 and a two-hundred day simple moving average of $792.22. The company has a market cap of $188.96 billion, a P/E ratio of 98.58, a PEG ratio of 5.63 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 1.12.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. Research analysts anticipate that ServiceNow will post 6.78 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 353 shares of the 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 in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,267 shares of company stock valued at $5,935,447. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ServiceNow

Several hedge funds have recently made changes to their positions in NOW. M&G Plc purchased a new stake in ServiceNow during the 1st quarter valued at about $11,030,000. AXA S.A. boosted its position in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after buying an additional 4,271 shares during the last quarter. HWG Holdings LP acquired a new position in ServiceNow in the 2nd quarter worth approximately $2,679,000. New Mexico Educational Retirement Board raised its position in ServiceNow by 9.4% during the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after buying an additional 1,000 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in ServiceNow by 375.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after acquiring an additional 1,078 shares during the period. 87.18% of the stock is 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.