ServiceNow (NYSE:NOW) Price Target Raised to $1,300.00 at JMP Securities

ServiceNow (NYSE:NOW) had its price target hoisted by JMP Securities from $1,000.00 to $1,300.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a market outperform rating on the information technology services provider’s stock.

Several other research analysts also recently weighed in on NOW. 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. Citigroup increased their target price on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday, October 25th. Mizuho boosted their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Stifel Nicolaus upped their price objective on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,093.34.

ServiceNow Trading Up 0.6 %

NOW stock opened at $1,132.30 on Tuesday. ServiceNow has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The firm has a market cap of $233.25 billion, a PE ratio of 176.10, a price-to-earnings-growth ratio of 4.98 and a beta of 0.99. The firm has a fifty day moving average price of $1,072.95 and a 200 day moving average price of $938.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 EPS. Sell-side analysts anticipate that ServiceNow will post 7.04 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $11,710,600. The trade was a 16.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,731 shares of company stock valued at $21,016,751 in the last 90 days. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ServiceNow

Hedge funds and other institutional investors have recently modified their holdings of the company. Custom Index Systems LLC grew its stake in ServiceNow by 2.2% during the 4th quarter. Custom Index Systems LLC now owns 599 shares of the information technology services provider’s stock valued at $635,000 after purchasing an additional 13 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of ServiceNow in the 4th quarter worth about $37,000. Austin Private Wealth LLC grew its holdings in shares of ServiceNow by 59.7% during the fourth quarter. Austin Private Wealth LLC now owns 602 shares of the information technology services provider’s stock valued at $638,000 after purchasing an additional 225 shares during the last quarter. Caprock Group LLC grew its stake in ServiceNow by 0.6% during the 4th quarter. Caprock Group LLC now owns 4,203 shares of the information technology services provider’s stock worth $4,456,000 after buying an additional 26 shares during the last quarter. Finally, New Wave Wealth Advisors LLC increased its holdings in shares of ServiceNow by 2.8% in the 4th quarter. New Wave Wealth Advisors LLC now owns 671 shares of the information technology services provider’s stock worth $711,000 after acquiring an additional 18 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

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.