ServiceNow (NYSE:NOW) Price Target Raised to $980.00 at Barclays

ServiceNow (NYSE:NOW) had its price objective upped by Barclays from $890.00 to $980.00 in a report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.

Other equities analysts have also issued reports about the company. Robert W. Baird increased their price objective on ServiceNow from $885.00 to $900.00 and gave the company an outperform rating in a report on Thursday, July 25th. Stifel Nicolaus raised their price target on ServiceNow from $820.00 to $900.00 and gave the stock a buy 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 report on Thursday, July 25th. KeyCorp cut their price target on ServiceNow from $950.00 to $920.00 and set an overweight rating for the company in a report on Tuesday, July 2nd. Finally, Citigroup raised their price target on ServiceNow from $909.00 to $911.00 and gave the stock a buy rating in a report on Wednesday, July 17th. One 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. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $880.04.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $938.59 on Friday. The company has a market cap of $192.41 billion, a PE ratio of 100.38, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. ServiceNow has a 52 week low of $527.24 and a 52 week high of $949.00. The business has a 50 day moving average price of $861.16 and a 200-day moving average price of $786.18. 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 (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the business posted $0.77 earnings per share. ServiceNow’s revenue was up 22.2% on a year-over-year basis. Equities analysts anticipate that ServiceNow will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were 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 owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction 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 $5,252,800.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,914 shares of company stock valued at $5,608,936. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at about $25,000. Versant Capital Management Inc raised its position in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new stake in ServiceNow in the 4th quarter worth about $29,000. EntryPoint Capital LLC raised its position in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in ServiceNow in the 2nd quarter worth about $32,000. 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.