ServiceNow (NYSE:NOW) Price Target Increased to $975.00 by Analysts at Robert W. Baird

by · The Markets Daily

ServiceNow (NYSE:NOW – Get Free Report) had its price objective raised by stock analysts at Robert W. Baird from $900.00 to $975.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the information technology services provider’s stock. Robert W. Baird’s price target suggests a potential upside of 7.42% from the company’s previous close.

Several other research firms also recently commented on NOW. Evercore ISI lifted their price objective on ServiceNow from $850.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Piper Sandler boosted their price objective on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Canaccord Genuity Group restated a “buy” rating and issued a $835.00 target price on shares of ServiceNow in a report on Tuesday, July 23rd. Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $900.00 to $960.00 in a research report on Monday. Finally, Needham & Company LLC restated a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $943.58.

View Our Latest Stock Report on NOW

ServiceNow Price Performance

NOW stock opened at $907.68 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow has a one year low of $527.24 and a one year high of $949.59. The stock has a market cap of $186.07 billion, a PE ratio of 97.08, a P/E/G ratio of 5.63 and a beta of 0.99. The firm has a 50 day simple moving average of $880.60 and a two-hundred day simple moving average of $795.09.

ServiceNow (NYSE:NOW – Get Free Report) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter last year, the company earned $0.77 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. On average, analysts predict that ServiceNow will post 6.78 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,467 shares of company stock valued at $4,450,447. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NOW. International Assets Investment Management LLC lifted its holdings in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares in the last quarter. Swedbank AB bought a new position in shares of ServiceNow during the first quarter valued at $897,908,000. Vanguard Group Inc. lifted its holdings in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of ServiceNow during the second quarter valued at $218,786,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of ServiceNow by 233.4% during the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after purchasing an additional 271,073 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Company Profile

(Get Free Report)

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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