ServiceNow (NYSE:NOW) Given New $990.00 Price Target at Stifel Nicolaus

ServiceNow (NYSE:NOW) had its price objective hoisted by equities research analysts at Stifel Nicolaus from $900.00 to $990.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Stifel Nicolaus’ price target indicates a potential upside of 3.02% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Barclays increased their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday. JMP Securities increased their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Wells Fargo & Company lifted their price objective on ServiceNow from $1,025.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Thursday. KeyCorp reduced their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Finally, Canaccord Genuity Group raised their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $966.08.

ServiceNow Stock Up 5.9 %

Shares of NOW stock traded up $53.27 during mid-day trading on Thursday, hitting $960.95. The company’s stock had a trading volume of 1,758,035 shares, compared to its average volume of 1,277,566. The stock has a market cap of $196.99 billion, a price-to-earnings ratio of 102.78, a PEG ratio of 5.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow has a 52-week low of $527.24 and a 52-week high of $979.78. The business has a 50-day moving average price of $880.60 and a 200 day moving average price of $795.09.

ServiceNow (NYSE:NOW) last issued 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 business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 EPS. Research analysts predict that ServiceNow will post 6.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total value of $652,848.00. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,467 shares of company stock valued at $4,450,447. 0.25% of the stock is owned by company insiders.

Institutional Trading of ServiceNow

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Affirmative Financial Network raised its position in ServiceNow by 1.4% in the 3rd 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 during the last quarter. Morling Financial Advisors LLC boosted its stake in shares of ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after buying an additional 13 shares in the last quarter. CX Institutional lifted its stake in shares of ServiceNow by 1.2% in the third quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock valued at $974,000 after purchasing an additional 13 shares during the period. Optas LLC raised its holdings in ServiceNow by 1.7% during the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after purchasing an additional 14 shares during the last quarter. Finally, Cedar Wealth Management LLC increased its position in ServiceNow by 5.5% during the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after buying an additional 14 shares in the last quarter. 87.18% of the stock is currently 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.