Wells Fargo & Company Boosts ServiceNow (NYSE:NOW) Price Target to $900.00

ServiceNow (NYSE:NOW) had its price objective boosted by research analysts at Wells Fargo & Company from $875.00 to $900.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 22.34% from the company’s previous close.

Several other analysts have also weighed in on NOW. Royal Bank of Canada lifted their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Barclays lifted their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. UBS Group lifted their price objective on shares of ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a research note on Monday. JMP Securities lifted their price objective on shares of ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a research note on Monday, January 22nd. Finally, BMO Capital Markets lifted their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $780.00.

ServiceNow Stock Down 1.2 %

Shares of NYSE NOW opened at $735.68 on Tuesday. The company has a market capitalization of $151.09 billion, a P/E ratio of 87.48, a price-to-earnings-growth ratio of 4.65 and a beta of 0.97. ServiceNow has a 52-week low of $427.68 and a 52-week high of $815.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The company’s 50 day moving average price is $767.53 and its 200-day moving average price is $700.42.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 EPS. Equities analysts forecast that ServiceNow will post 6.16 earnings per share for the current year.

Insider Activity

In related news, insider Paul John Smith sold 1,795 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the transaction, the insider now owns 994 shares in the company, valued at $776,373.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul John Smith sold 1,795 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now owns 994 shares of the company’s stock, valued at approximately $776,373.64. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 over the last quarter. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Institutional investors have recently added to or reduced their stakes in the stock. Argonautica Private Wealth Management Inc. boosted its position in ServiceNow by 1.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after purchasing an additional 13 shares during the period. Wealth Management Partners LLC boosted its position in ServiceNow by 2.7% during the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after purchasing an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group boosted its position in ServiceNow by 30.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 14 shares during the period. Trust Co. of Vermont boosted its position in ServiceNow by 8.6% during the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after purchasing an additional 15 shares during the period. Finally, Claro Advisors LLC boosted its position in ServiceNow by 3.6% during the fourth quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock worth $302,000 after purchasing an additional 15 shares during the period. 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.