UBS Group Increases ServiceNow (NYSE:NOW) Price Target to $920.00

ServiceNow (NYSE:NOW) had its price objective raised by UBS Group from $885.00 to $920.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Other research analysts have also issued research reports about the company. KeyCorp began coverage on ServiceNow in a report on Thursday, March 21st. They issued an overweight rating and a $1,000.00 target price on the stock. BMO Capital Markets boosted their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Royal Bank of Canada raised their target price on shares of ServiceNow from $840.00 to $850.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Truist Financial lifted their target price on shares of ServiceNow from $700.00 to $750.00 and gave the company a hold rating in a report on Thursday, January 25th. Finally, Citigroup increased their price target on shares of ServiceNow from $862.00 to $896.00 and gave the stock a buy rating in a report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $773.52.

ServiceNow Stock Down 4.3 %

Shares of NYSE:NOW opened at $735.53 on Monday. ServiceNow has a 1-year low of $427.68 and a 1-year high of $815.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $151.06 billion, a P/E ratio of 87.46, a P/E/G ratio of 4.86 and a beta of 0.97. The firm has a fifty day moving average price of $769.28 and a 200 day moving average price of $698.87.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Sell-side analysts predict that ServiceNow will post 6.16 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s 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 sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction that occurred on 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 directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 in the last ninety days. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in ServiceNow by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 18,118,773 shares of the information technology services provider’s stock valued at $12,800,732,000 after buying an additional 364,992 shares during the period. State Street Corp grew its holdings in ServiceNow by 1.8% in the first quarter. State Street Corp now owns 8,082,154 shares of the information technology services provider’s stock valued at $3,755,904,000 after purchasing an additional 141,744 shares during the period. Morgan Stanley increased its position in ServiceNow by 4.3% during the fourth quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider’s stock worth $2,745,763,000 after purchasing an additional 288,522 shares during the last quarter. FMR LLC raised its stake in ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares during the period. Finally, Geode Capital Management LLC raised its stake in ServiceNow by 2.3% during the first quarter. Geode Capital Management LLC now owns 3,589,941 shares of the information technology services provider’s stock worth $1,663,879,000 after purchasing an additional 79,037 shares during the period. 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.