ServiceNow (NYSE:NOW) Price Target Raised to $935.00 at Wells Fargo & Company

ServiceNow (NYSE:NOW) had its price target raised by Wells Fargo & Company from $920.00 to $935.00 in a report issued on Thursday, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

A number of other equities analysts have also weighed in on the stock. Morgan Stanley upped their target price on shares of ServiceNow from $814.00 to $830.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. UBS Group reduced their target price on shares of ServiceNow from $920.00 to $875.00 and set a buy rating for the company in a research note on Thursday, April 25th. BMO Capital Markets upped their target price on shares of ServiceNow from $830.00 to $860.00 and gave the stock an outperform rating in a research note on Thursday. William Blair reaffirmed an outperform rating on shares of ServiceNow in a research note on Tuesday, May 7th. Finally, Piper Sandler increased their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the stock an overweight rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of Moderate Buy and an average price target of $842.22.

ServiceNow Price Performance

Shares of NOW stock opened at $827.61 on Thursday. ServiceNow has a 12-month low of $527.24 and a 12-month high of $850.33. The firm has a market capitalization of $169.66 billion, a price-to-earnings ratio of 88.51, a price-to-earnings-growth ratio of 5.19 and a beta of 0.99. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average of $744.03 and a 200-day moving average of $751.55.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 EPS. On average, equities research analysts forecast that ServiceNow will post 6.5 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Christopher Bedi sold 215 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the transaction, the chief financial officer now owns 13,290 shares in the company, valued at approximately $9,819,715.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher Bedi sold 215 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The disclosure for this sale can be found here. Insiders have sold a total of 5,530 shares of company stock valued at $3,997,012 in the last three months. 0.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Argonautica Private Wealth Management Inc. grew its position in shares of ServiceNow by 1.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after purchasing an additional 13 shares in the last quarter. Oliver Lagore Vanvalin Investment Group grew its position in shares of ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 14 shares in the last quarter. Optas LLC grew its position in shares of ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after purchasing an additional 14 shares in the last quarter. Cedar Wealth Management LLC boosted its position in shares of ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after acquiring an additional 14 shares in the last quarter. Finally, Claro Advisors LLC boosted its position in shares of ServiceNow by 3.6% during the 4th quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock worth $302,000 after acquiring an additional 15 shares in the last quarter. Institutional investors and hedge funds 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.