Sanford C. Bernstein Increases ServiceNow (NYSE:NOW) Price Target to $913.00

ServiceNow (NYSE:NOW) had its price objective upped by stock analysts at Sanford C. Bernstein from $906.00 to $913.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the information technology services provider’s stock. Sanford C. Bernstein’s target price suggests a potential downside of 3.75% from the stock’s previous close.

Several other research analysts have also weighed in on NOW. TD Cowen raised their price objective on shares of ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a report on Monday. KeyCorp lifted their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a report on Thursday. JMP Securities lifted their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Canaccord Genuity Group lifted their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday. Finally, Guggenheim reaffirmed a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $970.22.

ServiceNow Stock Up 4.5 %

NOW stock traded up $40.92 during mid-day trading on Thursday, hitting $948.60. 2,563,909 shares of the company were exchanged, compared to its average volume of 1,281,478. The company has a market capitalization of $194.46 billion, a PE ratio of 101.73, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow has a twelve month low of $527.24 and a twelve month high of $979.78. The firm has a fifty day simple moving average of $880.60 and a 200 day simple moving average of $795.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.28. The company 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 firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS. On average, research analysts forecast that ServiceNow will post 6.78 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, 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 value of $77,636.48. Following the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at $3,319,372.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,467 shares of company stock valued at $4,450,447 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Affirmative Financial Network grew its position in ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after purchasing an additional 12 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 12 shares during the last quarter. Morling Financial Advisors LLC increased its stake in shares of ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after purchasing an additional 13 shares during the last quarter. CX Institutional increased its stake in shares of ServiceNow by 1.2% during the 3rd quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock worth $974,000 after purchasing an additional 13 shares during the last quarter. Finally, Optas LLC boosted its holdings 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 buying an additional 14 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

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.