ServiceNow (NYSE:NOW) PT Raised to $1,050.00 at Wells Fargo & Company

ServiceNow (NYSE:NOW) had its price objective lifted by Wells Fargo & Company from $1,025.00 to $1,050.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 10.43% from the company’s previous close.

A number of other equities research analysts have also commented on NOW. TD Cowen upped their price target on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a report on Monday, October 21st. KeyCorp dropped their target price on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Mizuho raised their target price on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird upped their price target on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Barclays lifted their price objective on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $970.33.

ServiceNow Stock Performance

NYSE NOW opened at $950.85 on Thursday. The firm has a market cap of $195.88 billion, a price-to-earnings ratio of 171.94, a PEG ratio of 5.04 and a beta of 0.99. The company has a 50-day simple moving average of $883.09 and a two-hundred day simple moving average of $796.21. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow has a 12-month low of $548.44 and a 12-month high of $979.78.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the company earned $1.21 EPS. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, equities analysts forecast that ServiceNow will post 7.41 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,467 shares of company stock valued at $4,450,447. Insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares during the last quarter. Swedbank AB purchased a new position in shares of ServiceNow in the 1st quarter worth $897,908,000. Vanguard Group Inc. grew its holdings in shares of ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares during the period. AustralianSuper Pty Ltd purchased a new stake in ServiceNow during the second quarter valued at $218,786,000. Finally, Acadian Asset Management LLC lifted its holdings in ServiceNow by 233.4% in the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after acquiring an additional 271,073 shares during the period. 87.18% of the stock is currently owned by institutional investors.

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.