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

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

A number of other equities analysts also recently issued reports on NOW. Citigroup increased their price target on ServiceNow from $909.00 to $911.00 and gave the stock a buy rating in a research report on Wednesday, July 17th. Stifel Nicolaus lifted their price objective on shares of ServiceNow from $820.00 to $900.00 and gave the company a buy rating in a report on Thursday, July 25th. Needham & Company LLC reaffirmed a buy rating and set a $900.00 target price on shares of ServiceNow in a research report on Monday, September 9th. Truist Financial raised their price objective on ServiceNow from $750.00 to $780.00 and gave the company a hold rating in a research report on Thursday, July 25th. Finally, Evercore ISI boosted their target price on shares of ServiceNow from $850.00 to $950.00 and gave the stock an outperform rating in a report on Wednesday, October 9th. One investment 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $880.04.

ServiceNow Stock Up 0.6 %

Shares of NYSE NOW opened at $944.69 on Friday. The firm has a 50-day simple moving average of $864.42 and a two-hundred day simple moving average of $787.72. ServiceNow has a 1 year low of $527.24 and a 1 year high of $949.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $193.66 billion, a P/E ratio of 101.04, a PEG ratio of 5.63 and a beta of 0.99.

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

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, 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 transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. 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 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 transaction of $1,485,000.00. Following the sale, 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 sold a total of 6,914 shares of company stock valued at $5,608,936 over the last 90 days. Insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several institutional investors have recently bought and sold shares of NOW. Public Employees Retirement System of Ohio raised its position in ServiceNow by 0.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 103,608 shares of the information technology services provider’s stock worth $73,198,000 after acquiring an additional 731 shares during the period. O Dell Group LLC acquired a new position in ServiceNow in the 4th quarter valued at $167,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in 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 valued at $1,239,198,000 after purchasing an additional 271,153 shares in the last quarter. Sunpointe LLC acquired a new stake in ServiceNow during the 4th quarter worth $213,000. Finally, Vancity Investment Management Ltd grew its holdings in shares of ServiceNow by 20.7% during the fourth quarter. Vancity Investment Management Ltd now owns 36,264 shares of the information technology services provider’s stock worth $25,620,000 after buying an additional 6,222 shares in 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.