ServiceNow (NYSE:NOW) Stock Price Expected to Rise, Mizuho Analyst Says

ServiceNow (NYSE:NOW) had its target price lifted by analysts at Mizuho from $1,070.00 to $1,210.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the information technology services provider’s stock. Mizuho’s price objective would suggest a potential upside of 5.34% from the stock’s previous close.

Several other analysts have also recently commented on NOW. UBS Group lifted their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Jefferies Financial Group lifted their price objective on ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group increased their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada lifted their price target on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company increased their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,034.96.

ServiceNow Stock Up 0.1 %

Shares of NYSE:NOW opened at $1,148.65 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $236.62 billion, a P/E ratio of 178.64, a P/E/G ratio of 6.58 and a beta of 0.99. ServiceNow has a 52-week low of $637.99 and a 52-week high of $1,157.90. The stock’s fifty day simple moving average is $1,002.75 and its 200-day simple moving average is $868.23.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. As a group, equities research analysts forecast that ServiceNow will post 7.07 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, insider Kevin Thomas Mcbride sold 100 shares of ServiceNow stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total value of $102,397.00. Following the completion of the transaction, the insider now directly owns 3,457 shares in the company, valued at approximately $3,539,864.29. This trade represents a 2.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,629 shares of company stock worth $20,861,626 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ServiceNow

A number of large investors have recently bought and sold shares of the business. World Investment Advisors LLC increased its position in ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the period. International Assets Investment Management LLC grew its position in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after acquiring an additional 1,183,739 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after acquiring an additional 935,848 shares during the period. Wellington Management Group LLP boosted its stake in ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares during the period. Finally, FMR LLC grew its position in ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares during the last quarter. 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.