ServiceNow (NYSE:NOW) Stock Rating Upgraded by Cantor Fitzgerald

ServiceNow (NYSE:NOW) was upgraded by investment analysts at Cantor Fitzgerald to a “strong-buy” rating in a report released on Thursday, MarketBeat.com reports. The brokerage presently has a $1,332.00 price target on the information technology services provider’s stock. Cantor Fitzgerald’s price target points to a potential upside of 24.25% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on NOW. JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. JMP Securities upped their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Needham & Company LLC raised their target price on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Sanford C. Bernstein upped their price target on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,080.38.

ServiceNow Trading Up 1.4 %

NOW stock opened at $1,072.02 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow has a twelve month low of $637.99 and a twelve month high of $1,157.90. The company has a market cap of $220.84 billion, a P/E ratio of 166.72, a PEG ratio of 4.65 and a beta of 0.99. The business has a fifty day moving average of $1,068.39 and a 200-day moving average of $929.31.

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

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the transaction, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 over the last ninety days. Insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Institutional investors and hedge funds have recently made changes to their positions in the company. World Investment Advisors LLC increased its stake in shares of ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after purchasing an additional 4,771,830 shares during the last quarter. International Assets Investment Management LLC grew its stake 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 buying an additional 1,183,739 shares during the last quarter. Bank of Montreal Can increased its holdings in 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 purchasing an additional 935,848 shares in the last quarter. Wellington Management Group LLP raised its holdings in ServiceNow by 24.1% in 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 buying an additional 615,797 shares during the last quarter. Finally, FMR LLC raised its stake in shares of ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after acquiring an additional 502,845 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

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.