Stifel Nicolaus Increases ServiceNow (NYSE:NOW) Price Target to $990.00

ServiceNow (NYSE:NOW) had its price objective upped by investment analysts at Stifel Nicolaus from $900.00 to $990.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 3.02% from the stock’s current price.

Several other research analysts have also commented on the stock. TD Cowen lifted their price target on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a report on Monday. Guggenheim reiterated a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Robert W. Baird lifted their target price on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, BMO Capital Markets boosted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $966.08.

ServiceNow Trading Up 5.9 %

NOW stock traded up $53.27 during midday trading on Thursday, reaching $960.95. 1,758,035 shares of the company’s stock traded hands, compared to its average volume of 1,277,566. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $196.99 billion, a P/E ratio of 102.78, a PEG ratio of 5.63 and a beta of 0.99. The business has a 50-day moving average price of $880.60 and a two-hundred day moving average price of $795.09. ServiceNow has a fifty-two week low of $527.24 and a fifty-two week high of $979.78.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the firm earned $0.77 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. Equities research analysts forecast that ServiceNow will post 6.78 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,467 shares of company stock worth $4,450,447 over the last ninety days. Insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its holdings in ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares during the period. Swedbank AB purchased a new position in ServiceNow during the first quarter worth about $897,908,000. Vanguard Group Inc. increased its stake in ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of ServiceNow during the 2nd quarter valued at about $218,786,000. Finally, Acadian Asset Management LLC grew its holdings in shares of ServiceNow by 233.4% during the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after purchasing an additional 271,073 shares in the last quarter. 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.