Truist Financial Issues Positive Forecast for ServiceNow (NYSE:NOW) Stock Price

ServiceNow (NYSE:NOW) had its target price lifted by Truist Financial from $900.00 to $1,100.00 in a research note released on Thursday,Benzinga reports. They currently have a hold rating on the information technology services provider’s stock.

Several other analysts also recently issued reports on NOW. Barclays increased their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Sanford C. Bernstein lifted their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Needham & Company LLC upped their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research report on Monday, November 25th. BMO Capital Markets lifted their target price on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, JMP Securities increased their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,034.96.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,132.00 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $233.19 billion, a PE ratio of 178.64, a P/E/G ratio of 6.58 and a beta of 0.99. The company’s fifty day simple moving average is $1,002.75 and its 200-day simple moving average is $868.23. ServiceNow has a 52 week low of $637.99 and a 52 week high of $1,157.90.

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

Insider Buying and Selling

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of ServiceNow stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,884,725.40. The trade was a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % 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 three months. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On ServiceNow

Several institutional investors have recently bought and sold shares of the stock. American Trust acquired a new stake in shares of ServiceNow in the 3rd quarter worth approximately $744,000. Tidal Investments LLC raised its holdings in ServiceNow by 104.5% during the third quarter. Tidal Investments LLC now owns 48,808 shares of the information technology services provider’s stock worth $43,653,000 after purchasing an additional 24,945 shares in the last quarter. Blankinship & Foster LLC acquired a new stake in ServiceNow in the third quarter worth approximately $1,881,000. Wilmington Savings Fund Society FSB bought a new position in ServiceNow during the 3rd quarter valued at $3,191,000. Finally, Sfmg LLC acquired a new stake in shares of ServiceNow in the third quarter valued at $226,000. Institutional investors and hedge funds 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.