ServiceNow (NYSE:NOW) Price Target Increased to $950.00 by Analysts at Evercore ISI

ServiceNow (NYSE:NOW) had its price target increased by stock analysts at Evercore ISI from $850.00 to $950.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the information technology services provider’s stock. Evercore ISI’s price objective points to a potential upside of 3.20% from the stock’s previous close.

Several other research analysts also recently commented on the stock. JMP Securities lifted their target price on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their target price on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Stifel Nicolaus lifted their price target on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $869.46.

ServiceNow Stock Down 0.2 %

Shares of NYSE:NOW traded down $1.48 on Wednesday, reaching $920.52. The company had a trading volume of 124,986 shares, compared to its average volume of 1,278,153. The stock has a market capitalization of $188.71 billion, a P/E ratio of 98.45, a P/E/G ratio of 5.55 and a beta of 0.99. The stock has a 50-day moving average price of $853.04 and a 200 day moving average price of $782.83. ServiceNow has a twelve month low of $527.24 and a twelve month high of $945.46. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

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

Insider Buying and Selling at ServiceNow

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

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow during the first quarter valued at approximately $25,000. Versant Capital Management Inc boosted its position in ServiceNow by 466.7% in the 2nd 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 last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow in the 4th quarter valued at $29,000. EntryPoint Capital LLC raised its position in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of ServiceNow during the second quarter valued at $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

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.