ServiceNow (NYSE:NOW) Given New $1,100.00 Price Target at Jefferies Financial Group

ServiceNow (NYSE:NOW) had its price objective increased by Jefferies Financial Group from $900.00 to $1,100.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Several other research analysts have also commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a research report on Monday, September 9th. Piper Sandler lifted their target price on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. JMP Securities increased their price target on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. Truist Financial raised their price target on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada increased their target price on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $887.73.

ServiceNow Trading Down 1.0 %

Shares of NOW stock opened at $918.87 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $188.37 billion, a price-to-earnings ratio of 98.27, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. ServiceNow has a 12-month low of $527.24 and a 12-month high of $949.59. The stock’s 50-day moving average price is $869.98 and its 200-day moving average price is $789.79.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the firm posted $0.77 earnings per share. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. Equities research analysts predict that ServiceNow will post 6.78 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow 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 transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. 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 at the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock valued at $5,608,936 over the last ninety days. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NOW. Swedbank AB acquired a new stake in ServiceNow in the first quarter valued at approximately $897,908,000. Global Assets Advisory LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at $403,034,000. Vanguard Group Inc. lifted its holdings in shares of ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of ServiceNow in the 2nd quarter worth $218,786,000. Finally, Acadian Asset Management LLC grew its stake in ServiceNow by 233.4% during the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after buying an additional 271,073 shares during the last quarter. 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.