ServiceNow (NYSE:NOW) Given New $1,020.00 Price Target at Oppenheimer

ServiceNow (NYSE:NOW) had its price target boosted by analysts at Oppenheimer from $825.00 to $1,020.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the information technology services provider’s stock. Oppenheimer’s price objective indicates a potential upside of 9.57% from the stock’s current price.

NOW has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price objective on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Evercore ISI raised their price objective on ServiceNow from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Piper Sandler raised their price objective on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. UBS Group raised their price objective on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Mizuho raised their price objective on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $908.12.

ServiceNow Trading Up 1.3 %

NYSE:NOW opened at $930.91 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow has a 1-year low of $527.24 and a 1-year high of $949.59. The firm has a market capitalization of $190.84 billion, a price-to-earnings ratio of 99.56, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. The stock has a fifty day simple moving average of $869.98 and a 200 day simple moving average of $789.79.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the company posted $0.77 EPS. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. Sell-side analysts forecast that ServiceNow will post 6.78 earnings per share for the current year.

Insiders Place Their Bets

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock valued at $5,608,936 in the last three months. Company insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several institutional investors have recently modified their holdings of the company. First Affirmative Financial Network grew its holdings in shares of ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares in the last quarter. Morling Financial Advisors LLC boosted its stake in ServiceNow by 2.5% in the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after buying an additional 13 shares in the last quarter. CX Institutional boosted its stake in ServiceNow by 1.2% in the 3rd quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock valued at $974,000 after buying an additional 13 shares in the last quarter. Optas LLC boosted its stake in ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after buying an additional 14 shares in the last quarter. Finally, Cedar Wealth Management LLC boosted its stake in ServiceNow by 5.5% in the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after buying an additional 14 shares in the last quarter. 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.