Analysts at DZ Bank began coverage on shares of ServiceNow (NYSE:NOW) in a research note issued on Wednesday, Analyst Price Targets reports. The brokerage set a “buy” rating and a $725.00 price target on the information technology services provider’s stock. DZ Bank’s price target points to a potential upside of 9.15% from the stock’s previous close.
NOW has been the subject of a number of other reports. Stifel Nicolaus raised their price target on ServiceNow from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Royal Bank of Canada raised their target price on shares of ServiceNow from $640.00 to $670.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Piper Sandler upped their price target on shares of ServiceNow from $550.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, July 9th. Wolfe Research decreased their price objective on shares of ServiceNow from $675.00 to $600.00 and set an “outperform” rating for the company in a research note on Friday, June 4th. Finally, Oppenheimer began coverage on ServiceNow in a research report on Friday, August 20th. They set an “outperform” rating and a $700.00 target price for the company. Two research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $648.74.
Shares of NYSE:NOW opened at $664.22 on Wednesday. The company has a market cap of $131.58 billion, a price-to-earnings ratio of 790.75, a PEG ratio of 17.05 and a beta of 0.92. ServiceNow has a 12 month low of $448.27 and a 12 month high of $681.10. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $613.49 and a 200 day moving average price of $544.70.
In related news, Director Anita M. Sands sold 994 shares of the company’s stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $600.00, for a total value of $596,400.00. Following the sale, the director now owns 707 shares in the company, valued at $424,200. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederic B. Luddy sold 16,500 shares of ServiceNow stock in a transaction that occurred on Wednesday, July 7th. The shares were sold at an average price of $560.07, for a total transaction of $9,241,155.00. The disclosure for this sale can be found here. Insiders have sold 31,208 shares of company stock valued at $17,359,693 over the last quarter. Insiders own 0.35% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Lone Pine Capital LLC raised its stake in shares of ServiceNow by 67.0% during the 2nd quarter. Lone Pine Capital LLC now owns 2,468,798 shares of the information technology services provider’s stock valued at $1,356,728,000 after buying an additional 990,073 shares during the last quarter. Vontobel Asset Management Inc. purchased a new stake in shares of ServiceNow in the first quarter worth about $282,540,000. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST acquired a new stake in ServiceNow during the second quarter worth about $251,104,000. Macquarie Group Ltd. raised its position in ServiceNow by 111.4% during the second quarter. Macquarie Group Ltd. now owns 774,314 shares of the information technology services provider’s stock valued at $425,524,000 after acquiring an additional 407,994 shares in the last quarter. Finally, Brown Advisory Inc. raised its position in ServiceNow by 22.2% during the first quarter. Brown Advisory Inc. now owns 1,681,445 shares of the information technology services provider’s stock valued at $840,908,000 after acquiring an additional 305,323 shares in the last quarter. 85.42% of the stock is currently owned by institutional investors.
ServiceNow Company Profile
ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.
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