ServiceNow (NYSE:NOW) Price Target Raised to $1,432.00 at Citigroup

ServiceNow (NYSE:NOW) had its target price increased by Citigroup from $1,071.00 to $1,432.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Other research analysts also recently issued research reports about the company. UBS Group boosted 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. TD Cowen upped their price objective on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Canaccord Genuity Group upped their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Evercore ISI upped their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,105.79.

ServiceNow Stock Up 1.4 %

Shares of NYSE NOW opened at $1,140.70 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $234.98 billion, a price-to-earnings ratio of 177.40, a PEG ratio of 5.11 and a beta of 0.99. ServiceNow has a 12 month low of $637.99 and a 12 month high of $1,165.98. The stock has a 50-day moving average price of $1,077.07 and a two-hundred day moving average price of $945.28.

Insider Transactions at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the sale, the director now directly owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This trade represents a 6.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock valued at $21,016,751 over the last ninety days. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Several large investors have recently made changes to their positions in NOW. Truvestments Capital LLC purchased a new stake in shares of ServiceNow during the 3rd quarter valued at $30,000. DT Investment Partners LLC increased its position in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow during the 4th quarter valued at $37,000. Oakworth Capital Inc. increased its position in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares during the last quarter. Finally, Dunhill Financial LLC grew its stake in shares of ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 21 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

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.