Analysts Set ServiceNow, Inc. (NYSE:NOW) Target Price at $1,079.58

ServiceNow, Inc. (NYSE:NOW - Get Free Report) has earned a consensus rating of "Moderate Buy" from the thirty-four ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, twenty-nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $1,114.87.

Several research firms have commented on NOW. BMO Capital Markets lifted their price target on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the stock an "outperform" rating in a research note on Thursday. Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research report on Tuesday, July 8th. JMP Securities reiterated a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a report on Tuesday, July 22nd. Scotiabank set a $1,100.00 price objective on ServiceNow and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and lifted their price target for the stock from $950.00 to $1,200.00 in a research note on Thursday, May 1st.

ServiceNow Price Performance

NYSE NOW traded down $28.13 during trading hours on Thursday, reaching $968.05. 1,998,443 shares of the stock traded hands, compared to its average volume of 1,429,436. The stock has a 50 day simple moving average of $1,000.33 and a two-hundred day simple moving average of $952.52. ServiceNow has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.12. The company has a market cap of $200.37 billion, a price-to-earnings ratio of 121.92, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. The company had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. ServiceNow's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the firm posted $3.13 EPS. On average, analysts predict that ServiceNow will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the sale, the insider directly owned 3,000 shares of the company's stock, valued at approximately $3,060,000. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 145 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $147,900.00. Following the completion of the transaction, the insider owned 3,027 shares in the company, valued at approximately $3,087,540. The trade was a 4.57% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,003 shares of company stock valued at $6,015,106. Company insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bogart Wealth LLC lifted its holdings in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new position in ServiceNow during the 1st quarter valued at about $26,000. Quarry LP bought a new position in ServiceNow during the fourth quarter valued at approximately $27,000. WASHINGTON TRUST Co lifted its position in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the period. Finally, Global X Japan Co. Ltd. bought a new position in ServiceNow during the second quarter valued at approximately $30,000. 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.