ServiceNow (NYSE:NOW) Price Target Raised to $935.00 at Wells Fargo & Company

ServiceNow (NYSE:NOW) had its price objective boosted by Wells Fargo & Company from $920.00 to $935.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Wolfe Research reaffirmed an outperform rating and set a $830.00 price objective on shares of ServiceNow in a research note on Friday, May 10th. UBS Group decreased their price objective on ServiceNow from $920.00 to $875.00 and set a buy rating on the stock in a report on Thursday, April 25th. Robert W. Baird lifted their price target on ServiceNow from $885.00 to $900.00 and gave the stock an outperform rating in a report on Thursday. StockNews.com lowered ServiceNow from a buy rating to a hold rating in a report on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a buy rating in a report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $842.22.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $827.61 on Thursday. The firm has a market capitalization of $169.66 billion, a P/E ratio of 88.51, a PEG ratio of 5.19 and a beta of 0.99. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average price of $744.03 and a 200 day moving average price of $751.55. ServiceNow has a 52 week low of $527.24 and a 52 week high of $850.33.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the firm posted $0.77 EPS. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. Sell-side analysts expect that ServiceNow will post 6.5 EPS for the current year.

Insider Transactions at ServiceNow

In related news, 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 transaction, the insider now owns 3,112 shares of the company’s stock, valued at $2,263,606.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Frederic B. Luddy sold 598 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $741.92, for a total transaction of $443,668.16. Following the sale, the director now owns 428 shares of the company’s stock, valued at $317,541.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 125 shares of the stock in a transaction on 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 directly owns 3,112 shares in the company, valued at approximately $2,263,606.56. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock worth $3,997,012 over the last 90 days. 0.25% of the stock is currently owned by insiders.

Institutional Trading of ServiceNow

A number of large investors have recently made changes to their positions in the stock. Creekmur Asset Management LLC purchased a new position in ServiceNow during the first quarter worth about $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 during the period. University of Texas Texas AM Investment Managment Co. purchased a new position in ServiceNow during the fourth quarter worth about $29,000. EntryPoint Capital LLC lifted its position 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 period. Finally, AdvisorNet Financial Inc lifted its position in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares during the period. 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.