BMO Capital Markets Boosts ServiceNow (NYSE:NOW) Price Target to $1,025.00

ServiceNow (NYSE:NOW) had its price target boosted by BMO Capital Markets from $860.00 to $1,025.00 in a report released on Thursday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

Several other brokerages have also recently weighed in on NOW. TD Cowen upped their target price on ServiceNow from $870.00 to $900.00 and gave the stock a buy rating in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. Guggenheim reissued a sell rating and set a $640.00 target price on shares of ServiceNow in a research report on Monday, July 8th. Royal Bank of Canada upped their price target on shares of ServiceNow from $850.00 to $880.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Finally, Piper Sandler lifted their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the company an overweight rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of Moderate Buy and a consensus price target of $880.04.

ServiceNow Stock Performance

ServiceNow stock opened at $938.59 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow has a 1-year low of $527.24 and a 1-year high of $949.00. The firm has a market capitalization of $192.41 billion, a P/E ratio of 100.38, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. The company’s 50-day moving average is $861.16 and its 200 day moving average is $786.23.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the firm earned $0.77 EPS. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. Research analysts forecast that ServiceNow will post 6.78 EPS for the current year.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors have recently modified their holdings of NOW. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow in the first quarter valued at approximately $25,000. Versant Capital Management Inc grew its stake in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the period. EntryPoint Capital LLC increased its holdings in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares in the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new position in ServiceNow during the fourth quarter valued at $29,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of ServiceNow in the second quarter valued at about $32,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Company Profile

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.