ServiceNow (NYSE:NOW) Price Target Raised to $1,070.00

ServiceNow (NYSE:NOW - Get Free Report) had its price objective boosted by research analysts at Mizuho from $980.00 to $1,070.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the information technology services provider's stock. Mizuho's price target suggests a potential upside of 4.68% from the company's current price.

Several other research analysts have also recently weighed in on NOW. Truist Financial upped their price target on shares of ServiceNow from $780.00 to $900.00 and gave the stock a "hold" rating in a report on Wednesday, October 23rd. Jefferies Financial Group upped their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. KeyCorp upped their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $820.00 to $950.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein upped their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and an average target price of $986.39.

ServiceNow Stock Performance

ServiceNow stock traded up $16.85 during trading on Tuesday, hitting $1,022.19. The stock had a trading volume of 1,816,639 shares, compared to its average volume of 1,285,622. ServiceNow has a 1 year low of $637.99 and a 1 year high of $1,061.66. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock's 50 day moving average is $935.45 and its two-hundred day moving average is $827.30. The stock has a market cap of $210.57 billion, a price-to-earnings ratio of 156.35, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.75 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The business's revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, analysts predict that ServiceNow will post 7.07 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, insider Kevin Thomas Mcbride sold 100 shares of ServiceNow stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total transaction of $102,397.00. Following the sale, the insider now directly owns 3,457 shares of the company's stock, valued at approximately $3,539,864.29. The trade was a 2.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred 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 sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,373 shares of company stock valued at $7,139,335 over the last ninety days. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On ServiceNow

Several large investors have recently made changes to their positions in the business. Catalyst Financial Partners LLC lifted its holdings in shares of ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider's stock valued at $1,025,000 after purchasing an additional 11 shares during the last quarter. First Affirmative Financial Network lifted its holdings in shares of ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider's stock valued at $801,000 after purchasing an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of ServiceNow by 14.6% during the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider's stock valued at $84,000 after purchasing an additional 12 shares during the last quarter. BluePointe Capital Management LLC lifted its holdings in shares of ServiceNow by 0.6% during the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider's stock valued at $1,801,000 after purchasing an additional 12 shares during the last quarter. Finally, Morling Financial Advisors LLC lifted its holdings in shares of ServiceNow by 2.5% during the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider's stock valued at $415,000 after purchasing an additional 13 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

About ServiceNow

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.