ServiceNow (NYSE:NOW) Given New $885.00 Price Target at Robert W. Baird

ServiceNow (NYSE:NOW - Get Free Report) had its price target upped by investment analysts at Robert W. Baird from $870.00 to $885.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an "outperform" rating on the information technology services provider's stock. Robert W. Baird's price objective points to a potential upside of 24.03% from the company's previous close.

Other equities analysts have also issued reports about the company. UBS Group cut their price objective on ServiceNow from $920.00 to $875.00 and set a "buy" rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company increased their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 16th. Barclays boosted their target price on shares of ServiceNow from $765.00 to $870.00 and gave the company an "overweight" rating in a report on Tuesday, January 23rd. Truist Financial lifted their price objective on ServiceNow from $700.00 to $750.00 and gave the stock a "hold" rating in a research report on Thursday, January 25th. Finally, StockNews.com lowered ServiceNow from a "buy" rating to a "hold" rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $807.88.

ServiceNow Trading Down 1.8 %

Shares of ServiceNow stock traded down $13.03 during trading on Tuesday, hitting $713.53. The company's stock had a trading volume of 1,552,504 shares, compared to its average volume of 1,227,506. The stock has a market cap of $146.54 billion, a price-to-earnings ratio of 76.31, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. ServiceNow has a 52 week low of $429.05 and a 52 week high of $815.32. The stock has a 50-day moving average price of $751.22 and a two-hundred day moving average price of $717.54.

Insider Activity

In related news, insider Paul John Smith sold 1,180 shares of the business's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Paul John Smith sold 1,180 shares of the business's stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the transaction, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the company's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares of the company's stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 11,369 shares of company stock worth $8,538,300 over the last quarter. Insiders own 0.25% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meeder Advisory Services Inc. raised its holdings in shares of ServiceNow by 5.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 3,327 shares of the information technology services provider's stock worth $2,537,000 after purchasing an additional 164 shares during the period. Meeder Asset Management Inc. raised its stake in shares of ServiceNow by 17.9% in the first quarter. Meeder Asset Management Inc. now owns 533 shares of the information technology services provider's stock valued at $406,000 after buying an additional 81 shares during the period. Fiduciary Family Office LLC purchased a new position in shares of ServiceNow during the 1st quarter valued at $479,000. Abbrea Capital LLC grew its stake in shares of ServiceNow by 1.7% during the 1st quarter. Abbrea Capital LLC now owns 1,505 shares of the information technology services provider's stock worth $1,147,000 after acquiring an additional 25 shares during the period. Finally, Concurrent Investment Advisors LLC increased its holdings in ServiceNow by 5.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 1,662 shares of the information technology services provider's stock worth $1,266,000 after acquiring an additional 93 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other 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.