ServiceNow (NYSE:NOW) PT Raised to $906.00

ServiceNow (NYSE:NOW - Free Report) had its target price boosted by Citigroup from $896.00 to $906.00 in a research note issued to investors on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the information technology services provider's stock.

Other equities analysts also recently issued reports about the company. Robert W. Baird raised their price objective on ServiceNow from $780.00 to $870.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Guggenheim restated a neutral rating on shares of ServiceNow in a research report on Monday. Wells Fargo & Company raised their price objective on ServiceNow from $875.00 to $900.00 and gave the stock an overweight rating in a research report on Tuesday. Piper Sandler raised their price objective on ServiceNow from $750.00 to $830.00 and gave the stock an overweight rating in a research report on Thursday, January 25th. Finally, Stifel Nicolaus restated a buy rating and set a $820.00 price objective on shares of ServiceNow in a research report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $780.37.

ServiceNow Trading Down 0.7 %

ServiceNow stock traded down $4.98 during trading hours on Thursday, hitting $731.47. The stock had a trading volume of 788,674 shares, compared to its average volume of 1,171,223. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The stock has a market cap of $150.23 billion, a price-to-earnings ratio of 86.98, a P/E/G ratio of 4.71 and a beta of 0.97. ServiceNow has a one year low of $427.68 and a one year high of $815.32. The business's 50 day simple moving average is $766.17 and its 200-day simple moving average is $700.64.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business's quarterly revenue was up 25.6% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. On average, equities analysts predict that ServiceNow will post 6.16 EPS for the current fiscal year.

Insider Activity

In other news, insider Paul John Smith sold 1,795 shares of the firm's stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the transaction, the insider now owns 994 shares in the company, valued at $776,373.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the sale, the insider now owns 994 shares in the company, valued at $776,373.64. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of ServiceNow

Hedge funds have recently bought and sold shares of the business. University of Texas Texas AM Investment Managment Co. bought a new stake in ServiceNow during the fourth quarter worth $29,000. AdvisorNet Financial Inc grew its position in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. Sachetta LLC purchased a new position in shares of ServiceNow in the fourth quarter valued at $35,000. PFG Private Wealth Management LLC purchased a new position in shares of ServiceNow in the third quarter valued at $28,000. Finally, Disciplined Equity Management Inc. purchased a new position in shares of ServiceNow in the fourth quarter valued at $35,000. 87.18% of the stock is currently owned by institutional investors.

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.