Robert W. Baird Increases ServiceNow (NYSE:NOW) Price Target to $885.00

ServiceNow (NYSE:NOW) had its price target hoisted by analysts at Robert W. Baird from $870.00 to $885.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the information technology services provider’s stock. Robert W. Baird’s price target would indicate a potential upside of 22.70% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. Piper Sandler lifted their price target on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. KeyCorp dropped their target price on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Barclays upped their target price on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Finally, Truist Financial boosted their price target on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $807.88.

ServiceNow Stock Up 1.1 %

Shares of NYSE:NOW opened at $721.28 on Tuesday. The business’s 50-day moving average is $751.22 and its 200-day moving average is $717.54. ServiceNow has a 1 year low of $435.07 and a 1 year high of $815.32. The company has a market capitalization of $148.14 billion, a price-to-earnings ratio of 77.14, a P/E/G ratio of 4.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The disclosure for this sale can be found here. Insiders sold a total of 11,369 shares of company stock worth $8,538,300 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

A number of hedge funds have recently bought and sold shares of NOW. Norges Bank bought a new position in shares of ServiceNow in the 4th quarter valued at about $1,648,259,000. International Assets Investment Management LLC lifted its stake in shares of ServiceNow by 69,354.6% in the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after purchasing an additional 820,465 shares during the last quarter. FMR LLC boosted its holdings in shares of ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares during the period. Global Assets Advisory LLC purchased a new stake in ServiceNow during the 1st quarter valued at $403,034,000. Finally, Jennison Associates LLC boosted its stake in ServiceNow by 23.0% during the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock worth $1,379,217,000 after buying an additional 461,614 shares during the period. Hedge funds and other 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.