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

ServiceNow, Inc. (NYSE:NOW) has been assigned a consensus recommendation of “Moderate Buy” from the thirty-four brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $1,115.20.

A number of equities analysts have commented on the company. Morgan Stanley restated an “equal weight” rating on shares of ServiceNow in a research note on Tuesday, July 8th. Oppenheimer restated an “outperform” rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Raymond James Financial raised their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Royal Bank Of Canada raised their price objective on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company raised their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th.

ServiceNow Stock Performance

NYSE:NOW opened at $985.51 on Thursday. The stock has a market cap of $203.98 billion, a P/E ratio of 124.12, a PEG ratio of 4.42 and a beta of 0.94. The stock has a 50 day simple moving average of $999.53 and a 200 day simple moving average of $951.58. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow has a 1-year low of $678.66 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion during 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%. The firm’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. Research analysts anticipate that ServiceNow will post 8.93 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In related news, General Counsel Russell S. Elmer sold 62 shares of the business’s stock in a transaction on 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 owned 4,332 shares in the company, valued at $4,431,636. The trade was a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,233 shares of company stock worth $5,297,758 over the last three months. 0.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ServiceNow

Institutional investors have recently bought and sold shares of the company. Haverford Trust Co grew its stake in shares of ServiceNow by 0.9% during the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after buying an additional 10 shares during the last quarter. Ascent Group LLC grew its stake in shares of ServiceNow by 0.5% during the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after buying an additional 10 shares during the last quarter. Edgemoor Investment Advisors Inc. grew its stake in shares of ServiceNow by 2.5% during the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after buying an additional 11 shares during the last quarter. Integrated Investment Consultants LLC boosted its holdings in shares of ServiceNow by 2.5% during the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock worth $358,000 after purchasing an additional 11 shares during the period. Finally, one8zero8 LLC boosted its holdings in shares of ServiceNow by 3.2% during the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock worth $283,000 after purchasing an additional 11 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Company Profile

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.