ServiceNow (NYSE:NOW) PT Raised to $913.00 at Sanford C. Bernstein

by · The Markets Daily

ServiceNow (NYSE:NOW – Free Report) had its price objective increased by Sanford C. Bernstein from $906.00 to $913.00 in a research report report published on Thursday morning, Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the information technology services provider’s stock.

NOW has been the topic of a number of other reports. Needham & Company LLC raised their price target on ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Thursday. Mizuho raised their price target on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company raised their price target on ServiceNow from $1,025.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial raised their price target on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen raised their price target on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $970.33.

View Our Latest Report on ServiceNow

ServiceNow Stock Performance

Shares of NOW opened at $950.85 on Thursday. The business’s fifty day simple moving average is $885.56 and its two-hundred day simple moving average is $797.66. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow has a 12 month low of $548.44 and a 12 month high of $979.78. The company has a market cap of $194.92 billion, a price-to-earnings ratio of 101.70, a P/E/G ratio of 5.04 and a beta of 0.99.

ServiceNow (NYSE:NOW – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the business posted $1.21 EPS. Research analysts anticipate that ServiceNow will post 7.41 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The trade was 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 other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The trade was 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. Also, insider Jacqueline P. Canney sold 804 shares of ServiceNow stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,457,924. This trade represents 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. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceNow

Large investors have recently made changes to their positions in the company. Financial Advocates Investment Management grew its position in ServiceNow by 5.5% in the third quarter. Financial Advocates Investment Management now owns 556 shares of the information technology services provider’s stock worth $497,000 after acquiring an additional 29 shares in the last quarter. Cornerstone Wealth Group LLC grew its position in ServiceNow by 1.9% in the third quarter. Cornerstone Wealth Group LLC now owns 4,924 shares of the information technology services provider’s stock worth $4,404,000 after acquiring an additional 90 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in ServiceNow by 20.4% in the third quarter. First Trust Direct Indexing L.P. now owns 7,515 shares of the information technology services provider’s stock worth $6,721,000 after acquiring an additional 1,274 shares in the last quarter. Evermay Wealth Management LLC grew its position in ServiceNow by 29.0% in the third quarter. Evermay Wealth Management LLC now owns 791 shares of the information technology services provider’s stock worth $707,000 after acquiring an additional 178 shares in the last quarter. Finally, Highline Wealth Partners LLC purchased a new position in ServiceNow in the third quarter worth about $490,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Company Profile

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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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