ServiceNow (NYSE:NOW) Price Target Raised to $1,250.00 at Jefferies Financial Group

ServiceNow (NYSE:NOW) had its price target upped by Jefferies Financial Group from $1,100.00 to $1,250.00 in a report issued on Monday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the information technology services provider’s stock.

Several other analysts have also commented on the stock. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $900.00 to $960.00 in a research note on Monday, October 21st. Canaccord Genuity Group upped their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays raised their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, UBS Group upped their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $994.43.

ServiceNow Trading Down 0.1 %

NYSE NOW opened at $1,048.43 on Monday. ServiceNow has a one year low of $637.99 and a one year high of $1,072.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $215.98 billion, a price-to-earnings ratio of 163.05, a price-to-earnings-growth ratio of 6.02 and a beta of 0.98. The company’s 50-day simple moving average is $963.10 and its two-hundred day simple moving average is $847.50.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the company posted $1.21 EPS. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities analysts forecast that ServiceNow will post 7.07 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, General Counsel Russell S. Elmer sold 81 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the completion of the transaction, the general counsel now directly owns 6,843 shares of the company’s stock, valued at $6,956,183.22. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 353 shares of the business’s 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 sale, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,329 shares of company stock worth $20,547,241. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Hedge funds have recently bought and sold shares of the stock. American Trust purchased a new position in shares of ServiceNow during the 3rd quarter worth about $744,000. Tidal Investments LLC increased its position in ServiceNow by 104.5% during the third quarter. Tidal Investments LLC now owns 48,808 shares of the information technology services provider’s stock worth $43,653,000 after purchasing an additional 24,945 shares during the last quarter. Blankinship & Foster LLC purchased a new position in ServiceNow during the third quarter worth approximately $1,881,000. Wilmington Savings Fund Society FSB acquired a new position in shares of ServiceNow in the 3rd quarter valued at $3,191,000. Finally, Sfmg LLC acquired a new position in shares of ServiceNow in the 3rd quarter valued at $226,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.