ServiceNow (NYSE:NOW) Stock Price Expected to Rise, Mizuho Analyst Says

ServiceNow (NYSE:NOW - Get Free Report) had its target price upped by investment analysts at Mizuho from $1,050.00 to $1,100.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the information technology services provider's stock. Mizuho's price target indicates a potential upside of 9.34% from the company's previous close.

A number of other research analysts also recently weighed in on NOW. Stifel Nicolaus increased their price target on ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Robert W. Baird increased their price target on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Morgan Stanley increased their price target on ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Finally, Sanford C. Bernstein reissued an "outperform" rating and issued a $1,003.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Trading Up 0.2%

NYSE:NOW traded up $1.70 during trading hours on Thursday, hitting $1,006.03. 846,899 shares of the stock were exchanged, compared to its average volume of 1,480,444. The company's 50 day moving average is $933.88 and its two-hundred day moving average is $974.34. ServiceNow has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $208.23 billion, a P/E ratio of 147.30, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the business earned $3.41 EPS. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. On average, sell-side analysts anticipate that ServiceNow will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the transaction, the director now owns 10,891 shares in the company, valued at $11,039,226.51. This trade represents a 3.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the transaction, the chief executive officer now owns 6,614 shares of the company's stock, valued at $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock valued at $6,611,245 in the last 90 days. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Several hedge funds have recently modified their holdings of NOW. Vanguard Group Inc. grew its holdings in ServiceNow by 1.6% during the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock worth $15,522,335,000 after purchasing an additional 297,734 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after purchasing an additional 509,467 shares during the period. FMR LLC grew its holdings in ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the period. Geode Capital Management LLC grew its holdings in ServiceNow by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after purchasing an additional 100,670 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in ServiceNow by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider's stock worth $2,263,519,000 after purchasing an additional 188,292 shares during the period. 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.