Jefferies Financial Group Issues Positive Forecast for ServiceNow (NYSE:NOW) Stock Price

ServiceNow (NYSE:NOW - Free Report) had its target price boosted by Jefferies Financial Group from $1,025.00 to $1,150.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the information technology services provider's stock.

A number of other brokerages have also issued reports on NOW. Cantor Fitzgerald lifted their target price on shares of ServiceNow from $1,048.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Bank of America lifted their target price on shares of ServiceNow from $1,085.00 to $1,110.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Barclays lifted their target price on shares of ServiceNow from $1,085.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Evercore ISI lifted their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $1,100.00 price objective (up previously from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,114.87.

ServiceNow Trading Down 2.8%

NYSE NOW traded down $28.13 on Thursday, hitting $968.05. 1,998,443 shares of the stock were exchanged, compared to its average volume of 1,429,436. ServiceNow has a 52-week low of $678.66 and a 52-week 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 capitalization of $200.37 billion, a price-to-earnings ratio of 121.92, a P/E/G ratio of 4.43 and a beta of 0.94. The company's 50-day moving average price is $1,000.33 and its two-hundred day moving average price is $952.52.

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

Insider Activity

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction 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. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 62 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the sale, the general counsel directly owned 4,332 shares in the company, valued at $4,431,636. This represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,003 shares of company stock valued at $6,015,106. Corporate insiders own 0.38% of the company's stock.

Institutional Trading of ServiceNow

Several large investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $27,000. Global X Japan Co. Ltd. bought a new stake in shares of ServiceNow during the second quarter valued at approximately $30,000. Bogart Wealth LLC grew its stake 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 during the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow during the first quarter valued at approximately $26,000. Finally, Richardson Financial Services Inc. grew its stake in shares of ServiceNow by 50.0% during the second quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider's stock valued at $33,000 after purchasing an additional 11 shares during the last quarter. 87.18% of the stock is 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.