ServiceNow (NYSE:NOW) Price Target Raised to $830.00

ServiceNow (NYSE:NOW) had its target price hoisted by Morgan Stanley from $814.00 to $830.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

A number of other research analysts also recently issued reports on NOW. Oppenheimer boosted their price target on shares of ServiceNow from $750.00 to $800.00 and gave the stock an outperform rating in a research report on Thursday, January 18th. Royal Bank of Canada boosted their price target on shares of ServiceNow from $840.00 to $850.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Wells Fargo & Company boosted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock an overweight rating in a research report on Tuesday, April 16th. Needham & Company LLC restated a buy rating and issued a $900.00 price target on shares of ServiceNow in a research report on Thursday. Finally, UBS Group dropped their price target on shares of ServiceNow from $920.00 to $875.00 and set a buy rating on the stock in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $792.00.

ServiceNow Trading Up 1.0 %

NOW opened at $723.55 on Thursday. ServiceNow has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. The firm has a market capitalization of $148.60 billion, a price-to-earnings ratio of 77.39, a PEG ratio of 4.57 and a beta of 0.97. The company’s 50 day moving average price is $759.21 and its two-hundred day moving average price is $708.95.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 EPS. As a group, research analysts predict that ServiceNow will post 6.16 earnings per share for the current year.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Managment Co. bought a new position in ServiceNow during the fourth quarter worth about $29,000. AdvisorNet Financial Inc boosted its position in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the period. Sachetta LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth about $35,000. PFG Private Wealth Management LLC purchased a new stake in shares of ServiceNow in the third quarter worth about $28,000. Finally, Disciplined Equity Management Inc. purchased a new stake in shares of ServiceNow in the fourth quarter worth about $35,000. 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.