ServiceNow (NYSE:NOW) Price Target Raised to $1,210.00

ServiceNow (NYSE:NOW) had its price objective hoisted by Mizuho from $1,070.00 to $1,210.00 in a research report report published on Friday,Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

Other analysts have also recently issued reports about the company. Oppenheimer lifted their price target on ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Evercore ISI boosted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada upped their price target on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Sanford C. Bernstein lifted their price objective on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, KeyCorp increased their target price on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $1,034.96.

ServiceNow Trading Down 2.4 %

NOW stock opened at $1,121.10 on Friday. ServiceNow has a one year low of $637.99 and a one year high of $1,157.90. The stock has a market cap of $230.95 billion, a price-to-earnings ratio of 174.35, a price-to-earnings-growth ratio of 6.58 and a beta of 0.99. The company has a fifty day moving average price of $1,006.82 and a two-hundred day moving average price of $872.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

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

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kevin Thomas Mcbride sold 100 shares of ServiceNow stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total value of $102,397.00. Following the transaction, the insider now directly owns 3,457 shares in the company, valued at $3,539,864.29. The trade was a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,629 shares of company stock worth $20,861,626 in the last 90 days. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Catalyst Financial Partners LLC raised its stake in ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after buying an additional 11 shares during the last quarter. First Affirmative Financial Network lifted its stake in shares of ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after purchasing an additional 12 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 12 shares in the last quarter. BluePointe Capital Management LLC grew its stake in ServiceNow by 0.6% during the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after purchasing an additional 12 shares during the period. Finally, Morling Financial Advisors LLC increased its holdings in ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after purchasing an additional 13 shares in the last quarter. 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.