ServiceNow (NYSE:NOW) PT Raised to $1,000.00 at Evercore ISI

ServiceNow (NYSE:NOW) had its price target hoisted by investment analysts at Evercore ISI from $950.00 to $1,000.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the information technology services provider’s stock. Evercore ISI’s price target indicates a potential upside of 5.17% from the stock’s previous close.

NOW has been the topic of a number of other reports. Stifel Nicolaus upped their target price on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Robert W. Baird upped their target price on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. raised their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho upped their price objective on shares of ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, KeyCorp cut their target price on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $970.33.

ServiceNow Price Performance

NOW stock opened at $950.85 on Thursday. The firm has a market capitalization of $195.88 billion, a P/E ratio of 171.94, a price-to-earnings-growth ratio of 5.04 and a beta of 0.99. The company has a fifty day simple moving average of $883.09 and a two-hundred day simple moving average of $796.21. ServiceNow has a 52 week low of $548.44 and a 52 week high of $979.78. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the company posted $1.21 EPS. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. Analysts anticipate that ServiceNow will post 7.41 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This represents 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 worth $4,450,447 over the last quarter. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several hedge funds have recently bought and sold shares of the stock. M&G Plc purchased a new stake in ServiceNow during the first quarter worth $11,030,000. AXA S.A. grew its position in shares of ServiceNow by 1.1% during the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after acquiring an additional 4,271 shares during the period. HWG Holdings LP purchased a new position in shares of ServiceNow in the 2nd quarter valued at about $2,679,000. New Mexico Educational Retirement Board raised its holdings in ServiceNow by 9.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after purchasing an additional 1,000 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in ServiceNow by 375.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after purchasing an additional 1,078 shares in the last quarter. Hedge funds and other institutional investors 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.