UBS Group Boosts ServiceNow (NYSE:NOW) Price Target to $1,055.00

by · The Markets Daily

ServiceNow (NYSE:NOW – Get Free Report) had its price objective boosted by investment analysts at UBS Group from $900.00 to $1,055.00 in a research report issued on Tuesday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. UBS Group’s target price indicates a potential upside of 12.33% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Needham & Company LLC restated a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Monday, September 9th. Guggenheim restated a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a research report on Monday, July 8th. KeyCorp dropped their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. JPMorgan Chase & Co. raised their target price on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Robert W. Baird upped their price target on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five 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 $869.46.

Check Out Our Latest Stock Analysis on NOW

ServiceNow Stock Up 1.9 %

Shares of NOW opened at $939.23 on Tuesday. The business’s fifty day moving average price is $853.04 and its two-hundred day moving average price is $782.83. The firm has a market capitalization of $192.54 billion, a price-to-earnings ratio of 100.45, a PEG ratio of 5.55 and a beta of 0.99. ServiceNow has a 52 week low of $527.24 and a 52 week high of $945.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

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

Insider Activity

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. 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 hyperlink. Also, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the transaction, the insider now owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 over the last ninety days. Insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow during the 1st quarter worth about $25,000. Versant Capital Management Inc increased its position in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the last quarter. EntryPoint Capital LLC raised its stake in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares during the period. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $29,000. Finally, Ridgewood Investments LLC bought a new position in shares of ServiceNow during the 2nd quarter worth approximately $32,000. 87.18% of the stock is owned by institutional investors.

About ServiceNow

(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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