ServiceNow (NYSE:NOW) PT Raised to $1,000.00 at Evercore ISI

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

A number of other brokerages have also recently issued reports on NOW. BMO Capital Markets boosted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Truist Financial upped their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research report on Wednesday. Canaccord Genuity Group lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. boosted their price objective on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $970.33.

ServiceNow Price Performance

NOW opened at $950.85 on Thursday. The company has a fifty day moving average price of $885.56 and a two-hundred day moving average price of $797.46. The firm has a market capitalization of $195.88 billion, a PE ratio of 171.94, a P/E/G ratio of 5.04 and a beta of 0.99. ServiceNow has a 52 week low of $548.44 and a 52 week high of $979.78. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

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

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 353 shares of the business’s 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 completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction that occurred on 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 directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,467 shares of company stock valued at $4,450,447. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Hedge funds have recently made changes to their positions in the stock. Creekmur Asset Management LLC bought a new position in ServiceNow in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc lifted its stake in shares of ServiceNow by 466.7% in 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 during the last quarter. EntryPoint Capital LLC grew its position in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares during the last quarter. Ridgewood Investments LLC acquired a new position in ServiceNow in the 2nd quarter worth about $32,000. Finally, DT Investment Partners LLC raised its position in ServiceNow by 77.3% in 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 during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.