ServiceNow, Inc. (NYSE:NOW – Get Free Report) shares traded up 0.9% during mid-day trading on Wednesday after Robert W. Baird raised their price target on the stock from $870.00 to $885.00. Robert W. Baird currently has an outperform rating on the stock. ServiceNow traded as high as $721.21 and last traded at $719.90. 278,474 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,216,238 shares. The stock had previously closed at $713.33.
A number of other equities research analysts have also issued reports on the stock. Oppenheimer upped their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Jefferies Financial Group increased their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group increased their price target on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Needham & Company LLC reissued a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research report on Thursday, April 25th. Finally, Wells Fargo & Company increased 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. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $807.88.
Read Our Latest Research Report on ServiceNow
Insiders Place Their Bets
Hedge Funds Weigh In On ServiceNow
Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after buying an additional 122,577 shares during the last quarter. FMR LLC grew its position in ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after buying an additional 595,697 shares during the last quarter. Jennison Associates LLC grew its position in ServiceNow by 2.2% in the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after buying an additional 53,719 shares during the last quarter. Norges Bank purchased a new position in ServiceNow in the 4th quarter valued at $1,648,259,000. Finally, Massachusetts Financial Services Co. MA grew its position in ServiceNow by 3.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after buying an additional 81,028 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.
ServiceNow Trading Up 1.1 %
The business’s 50-day moving average is $751.22 and its two-hundred day moving average is $717.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. The stock has a market capitalization of $148.14 billion, a PE ratio of 77.14, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98.
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.
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