ServiceNow (NYSE:NOW) Price Target Increased to $900.00 by Analysts at Robert W. Baird

ServiceNow (NYSE:NOW) had its target price increased by Robert W. Baird from $885.00 to $900.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

Several other equities research analysts also recently commented on the stock. Citigroup lifted their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the stock a buy rating in a research note on Wednesday, July 17th. Wells Fargo & Company boosted their price target on ServiceNow from $875.00 to $900.00 and gave the company an overweight rating in a research note on Tuesday, April 16th. Needham & Company LLC reissued a buy rating and issued a $900.00 price objective on shares of ServiceNow in a report on Monday, July 8th. BMO Capital Markets decreased their target price on ServiceNow from $850.00 to $830.00 and set an outperform rating for the company in a report on Thursday, April 25th. Finally, Morgan Stanley increased their price target on shares of ServiceNow from $814.00 to $830.00 and gave the stock an overweight rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of Moderate Buy and a consensus price target of $842.22.

ServiceNow Trading Down 0.1 %

ServiceNow stock opened at $827.61 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.05 and a current ratio of 1.12. The stock has a market cap of $169.66 billion, a PE ratio of 88.51, a price-to-earnings-growth ratio of 5.19 and a beta of 0.99. The stock has a 50-day moving average of $744.03 and a two-hundred day moving average of $751.29. ServiceNow has a one year low of $527.24 and a one year high of $850.33.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 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 net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm posted $0.77 EPS. On average, research analysts anticipate that ServiceNow will post 6.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the sale, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul John Smith sold 125 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,530 shares of company stock worth $3,997,012. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors and hedge funds have recently bought and sold shares of NOW. Creekmur Asset Management LLC purchased a new position in ServiceNow in the 1st quarter worth approximately $25,000. Versant Capital Management Inc lifted its position in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC boosted its stake in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in ServiceNow in the 4th quarter valued at $29,000. Finally, AdvisorNet Financial Inc increased its stake in shares of ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.