ServiceNow (NYSE:NOW) PT Raised to $900.00 at Needham & Company LLC

ServiceNow (NYSE:NOWFree Report) had its price target raised by Needham & Company LLC from $660.00 to $900.00 in a research note released on Monday, MarketBeat.com reports. They currently have a buy rating on the information technology services provider’s stock.

NOW has been the topic of several other reports. Citigroup dropped their price target on shares of ServiceNow from $734.00 to $700.00 and set a buy rating on the stock in a research note on Thursday, October 19th. Morgan Stanley increased their price target on ServiceNow from $630.00 to $648.00 and gave the stock an overweight rating in a report on Thursday, October 26th. William Blair reissued an outperform rating on shares of ServiceNow in a report on Thursday, October 26th. BMO Capital Markets reduced their target price on ServiceNow from $630.00 to $615.00 and set an outperform rating for the company in a report on Tuesday, October 24th. Finally, Oppenheimer raised their price target on ServiceNow from $750.00 to $800.00 and gave the company an outperform rating in a research report on Thursday, January 18th. Two investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $708.72.

View Our Latest Stock Analysis on ServiceNow

ServiceNow Price Performance

ServiceNow stock opened at $767.13 on Monday. ServiceNow has a 52-week low of $405.37 and a 52-week high of $783.88. The firm has a market capitalization of $157.26 billion, a price-to-earnings ratio of 91.22, a PEG ratio of 5.04 and a beta of 1.05. The company has a fifty day simple moving average of $701.45 and a 200-day simple moving average of $618.48. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.21.

ServiceNow (NYSE:NOWGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 12.33%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the company posted $0.88 EPS. The company’s revenue was up 25.6% compared to the same quarter last year. On average, equities analysts anticipate that ServiceNow will post 5.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Russell S. Elmer sold 56 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $616.08, for a total transaction of $34,500.48. Following the completion of the sale, the general counsel now directly owns 4,225 shares of the company’s stock, valued at approximately $2,602,938. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, insider Paul John Smith sold 859 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $582.63, for a total value of $500,479.17. Following the sale, the insider now owns 1,930 shares of the company’s stock, valued at approximately $1,124,475.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 56 shares of ServiceNow stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $616.08, for a total value of $34,500.48. Following the sale, the general counsel now directly owns 4,225 shares in the company, valued at approximately $2,602,938. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,997 shares of company stock valued at $6,496,675. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of ServiceNow

Institutional investors have recently modified their holdings of the company. First Foundation Advisors raised its position in ServiceNow by 2.1% in the 2nd quarter. First Foundation Advisors now owns 5,292 shares of the information technology services provider’s stock valued at $2,974,000 after purchasing an additional 108 shares during the last quarter. First Hawaiian Bank grew its stake in ServiceNow by 2.2% in the third quarter. First Hawaiian Bank now owns 7,514 shares of the information technology services provider’s stock valued at $4,200,000 after acquiring an additional 165 shares during the period. NorthRock Partners LLC grew its stake in ServiceNow by 7.9% in the second quarter. NorthRock Partners LLC now owns 714 shares of the information technology services provider’s stock valued at $401,000 after acquiring an additional 52 shares during the period. William Blair Investment Management LLC acquired a new position in ServiceNow in the second quarter valued at about $144,098,000. Finally, Catalyst Financial Partners LLC lifted its holdings in shares of ServiceNow by 7.8% in the second quarter. Catalyst Financial Partners LLC now owns 926 shares of the information technology services provider’s stock valued at $520,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 87.14% of the company’s stock.

ServiceNow Company Profile

(Get Free Report)

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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Analyst Recommendations for ServiceNow (NYSE:NOW)

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