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

ServiceNow (NYSE:NOW) had its target price increased by Royal Bank of Canada from $1,045.00 to $1,210.00 in a research note released on Friday morning,Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

Several other brokerages have also recently weighed in on NOW. Jefferies Financial Group increased their price objective on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. TD Cowen increased their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Needham & Company LLC boosted their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research report on Monday, November 25th. BMO Capital Markets raised their target price on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein lifted their target price on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,053.89.

ServiceNow Trading Up 1.8 %

NYSE:NOW opened at $1,073.77 on Friday. The company has a market cap of $221.20 billion, a PE ratio of 166.99, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. 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 50 day simple moving average of $1,053.53 and a two-hundred day simple moving average of $912.17. ServiceNow has a 12 month low of $637.99 and a 12 month high of $1,157.90.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. Research analysts forecast that ServiceNow will post 7.07 earnings per share for the current year.

Insider Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the transaction, the director now owns 10,467 shares in the company, valued at approximately $10,968,892.65. The trade was a 2.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock worth $20,861,626 in the last three months. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several institutional investors have recently made changes to their positions in the company. Polymer Capital Management HK LTD lifted its stake in ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after purchasing an additional 981 shares during the last quarter. AXA S.A. lifted its stake in shares of ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after acquiring an additional 4,271 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after acquiring an additional 138 shares during the period. Venturi Wealth Management LLC grew its position in ServiceNow by 36.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after acquiring an additional 765 shares during the last quarter. Finally, HWG Holdings LP bought a new stake in shares of ServiceNow during the second quarter worth $2,679,000. 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.