Brokerages Set ServiceNow, Inc. (NYSE:NOW) Target Price at $1,053.89

ServiceNow, Inc. (NYSE:NOW) has been assigned an average rating of “Moderate Buy” from the twenty-nine brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, twenty-four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $1,071.39.

A number of research firms have weighed in on NOW. Evercore ISI boosted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler increased their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Oppenheimer upped their price objective on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Needham & Company LLC increased their price target on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Citigroup increased their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th.

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 300 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the transaction, the director now owns 10,467 shares of the company’s stock, valued at approximately $10,968,892.65. This represents a 2.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceNow

A number of hedge funds have recently bought and sold shares of the stock. HBW Advisory Services LLC raised its position in ServiceNow by 13.2% in the 4th quarter. HBW Advisory Services LLC now owns 266 shares of the information technology services provider’s stock valued at $282,000 after purchasing an additional 31 shares in the last quarter. Highline Wealth Partners LLC increased its holdings in shares of ServiceNow by 7.8% in the 4th quarter. Highline Wealth Partners LLC now owns 591 shares of the information technology services provider’s stock valued at $627,000 after acquiring an additional 43 shares during the last quarter. Franklin Street Advisors Inc. NC purchased a new position in shares of ServiceNow in the 4th quarter valued at about $200,000. Hilltop National Bank increased its holdings in shares of ServiceNow by 22.8% in the 4th quarter. Hilltop National Bank now owns 420 shares of the information technology services provider’s stock valued at $445,000 after acquiring an additional 78 shares during the last quarter. Finally, ORG Partners LLC increased its holdings in shares of ServiceNow by 15.2% in the 4th quarter. ORG Partners LLC now owns 159 shares of the information technology services provider’s stock valued at $169,000 after acquiring an additional 21 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Down 2.4 %

Shares of NOW opened at $1,024.26 on Friday. The stock’s fifty day simple moving average is $1,064.01 and its 200 day simple moving average is $922.94. The company has a current ratio of 1.13, a quick 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 firm has a market capitalization of $211.00 billion, a P/E ratio of 159.29, a price-to-earnings-growth ratio of 6.43 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 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm 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 company earned $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts forecast that ServiceNow will post 7.07 earnings per share for the current year.

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.