Deutsche Bank Aktiengesellschaft Boosts ServiceNow (NYSE:NOW) Price Target to $900.00

ServiceNow (NYSE:NOW) had its target price boosted by Deutsche Bank Aktiengesellschaft from $875.00 to $900.00 in a research report report published on Thursday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the information technology services provider’s stock.

Several other equities analysts have also weighed in on NOW. KeyCorp reduced their price objective on ServiceNow from $950.00 to $920.00 and set an overweight rating for the company in a report on Tuesday, July 2nd. Canaccord Genuity Group reissued a buy rating and set a $835.00 price objective on shares of ServiceNow in a report on Tuesday, July 23rd. Stifel Nicolaus increased their target price on ServiceNow from $820.00 to $900.00 and gave the company a buy rating in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on ServiceNow from $780.00 to $820.00 and gave the company an overweight rating in a research report on Thursday. Finally, Needham & Company LLC restated a buy rating and issued a $900.00 target price on shares of ServiceNow in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $842.22.

ServiceNow Stock Performance

Shares of NOW opened at $827.61 on Thursday. The stock has a 50 day moving average of $744.03 and a 200 day moving average of $751.29. The company has a market capitalization of $169.66 billion, a price-to-earnings ratio of 88.51, a PEG ratio of 5.19 and a beta of 0.99. ServiceNow has a 12 month low of $527.24 and a 12 month high of $850.33. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $0.77 EPS. As a group, sell-side analysts forecast that ServiceNow will post 6.5 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $2,521,422.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors have recently modified their holdings of the stock. PFG Investments LLC bought a new stake in shares of ServiceNow in the fourth quarter worth approximately $278,000. IFG Advisory LLC grew its position in ServiceNow by 7.5% during the fourth quarter. IFG Advisory LLC now owns 402 shares of the information technology services provider’s stock valued at $284,000 after buying an additional 28 shares during the period. Steel Grove Capital Advisors LLC increased its holdings in ServiceNow by 5.9% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 393 shares of the information technology services provider’s stock valued at $278,000 after buying an additional 22 shares during the last quarter. Trueblood Wealth Management LLC purchased a new position in shares of ServiceNow during the 4th quarter worth $286,000. Finally, Ritholtz Wealth Management grew its position in shares of ServiceNow by 9.4% during the 4th quarter. Ritholtz Wealth Management now owns 2,240 shares of the information technology services provider’s stock valued at $1,583,000 after acquiring an additional 192 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

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.