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

ServiceNow (NYSE:NOW) had its price objective upped by Mizuho from $850.00 to $980.00 in a report issued on Thursday morning, Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada lifted their price objective on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JMP Securities upped their target price on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Evercore ISI raised 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. TD Cowen upped their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One equities 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $914.15.

ServiceNow Stock Performance

Shares of NOW opened at $921.75 on Thursday. ServiceNow has a 12-month low of $527.24 and a 12-month high of $949.59. The stock 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 current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $874.61 and a two-hundred day moving average of $792.22.

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

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jacqueline P. Canney sold 804 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 187 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares in the company, valued at $3,006,496.82. This 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 7,267 shares of company stock valued at $5,935,447 in the last ninety days. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kapitalo Investimentos Ltda bought a new stake in ServiceNow in the fourth quarter valued at about $114,000. Park Avenue Securities LLC increased its holdings in shares of ServiceNow by 0.4% in the 1st quarter. Park Avenue Securities LLC now owns 9,720 shares of the information technology services provider’s stock valued at $7,410,000 after acquiring an additional 42 shares during the last quarter. Aprio Wealth Management LLC acquired a new stake in shares of ServiceNow during the 1st quarter valued at approximately $259,000. BTC Capital Management Inc. bought a new position in ServiceNow during the first quarter worth $643,000. Finally, RFG Advisory LLC boosted its holdings in ServiceNow by 9.4% in the first quarter. RFG Advisory LLC now owns 3,641 shares of the information technology services provider’s stock worth $2,776,000 after purchasing an additional 314 shares during the period. Institutional investors 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.