Evercore ISI Boosts ServiceNow (NYSE:NOW) Price Target to $1,000.00

ServiceNow (NYSE:NOW) had its price objective upped by Evercore ISI from $950.00 to $1,000.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

NOW has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup boosted their price target on ServiceNow from $915.00 to $1,068.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Canaccord Genuity Group raised their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday. UBS Group boosted their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Barclays raised their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $970.22.

ServiceNow Stock Up 0.1 %

Shares of ServiceNow stock traded up $1.38 on Thursday, hitting $957.96. The company had a trading volume of 236,563 shares, compared to its average volume of 1,280,213. The stock has a 50-day moving average of $880.60 and a 200-day moving average of $795.09. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow has a twelve month low of $548.44 and a twelve month high of $979.78. The firm has a market capitalization of $197.34 billion, a P/E ratio of 172.95, a P/E/G ratio of 5.04 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the business earned $1.21 EPS. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. Research analysts predict that ServiceNow will post 7.41 earnings per share for the current year.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the sale, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the sale, the insider now directly owns 4,019 shares in the company, valued at $3,319,372.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,467 shares of company stock worth $4,450,447 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow during the first quarter worth $25,000. Versant Capital Management Inc boosted its holdings in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC increased its holdings in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares in the last quarter. Ridgewood Investments LLC bought a new position in ServiceNow in the second quarter valued at about $32,000. Finally, DT Investment Partners LLC boosted its stake in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares in 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.