ServiceNow (NYSE:NOW) PT Raised to $1,000.00 at TD Cowen

ServiceNow (NYSE:NOW) had its price objective boosted by TD Cowen from $900.00 to $1,000.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. TD Cowen’s target price suggests a potential upside of 8.94% from the company’s current price.

Several other brokerages have also recently weighed in on NOW. KeyCorp decreased their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Truist Financial raised their price objective on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Mizuho lifted their price target on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $900.00 price target on shares of ServiceNow in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $923.00.

ServiceNow Price Performance

Shares of NYSE NOW opened at $917.92 on Monday. The stock has a market capitalization of $188.17 billion, a price-to-earnings ratio of 98.17, a PEG ratio of 5.63 and a beta of 0.99. The business has a 50-day moving average of $878.83 and a 200-day moving average of $794.29. 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 has a fifty-two week low of $527.24 and a fifty-two week high of $949.59.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share 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 return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 EPS. As a group, sell-side analysts predict that ServiceNow will post 6.78 earnings per share for the current fiscal year.

Insider Activity

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 value of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s 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 transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This 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 sold 7,267 shares of company stock worth $5,935,447. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NOW. Riverview Trust Co acquired a new position in ServiceNow during the first quarter valued at approximately $114,000. Dynamic Advisor Solutions LLC grew its stake in shares of ServiceNow by 80.2% during the first quarter. Dynamic Advisor Solutions LLC now owns 3,204 shares of the information technology services provider’s stock worth $2,443,000 after buying an additional 1,426 shares during the last quarter. Richelieu Gestion SA grew its stake in shares of ServiceNow by 2,500.0% during the first quarter. Richelieu Gestion SA now owns 260 shares of the information technology services provider’s stock worth $198,000 after buying an additional 250 shares during the last quarter. IAM Advisory LLC grew its stake in shares of ServiceNow by 2.1% during the first quarter. IAM Advisory LLC now owns 1,059 shares of the information technology services provider’s stock worth $807,000 after buying an additional 22 shares during the last quarter. Finally, CFM Wealth Partners LLC grew its stake in shares of ServiceNow by 140.4% during the first quarter. CFM Wealth Partners LLC now owns 3,435 shares of the information technology services provider’s stock worth $2,619,000 after buying an additional 2,006 shares during the last quarter. 87.18% of the stock is currently 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.