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

ServiceNow (NYSE:NOW - Free Report) had its price objective lifted by UBS Group from $900.00 to $1,055.00 in a research note published on Tuesday morning, Marketbeat.com reports. The firm currently has a buy rating on the information technology services provider's stock.

A number of other research analysts have also recently commented on NOW. KeyCorp cut their target price on ServiceNow from $950.00 to $920.00 and set an overweight rating on the stock in a research note on Tuesday, July 2nd. Robert W. Baird upped their price objective on ServiceNow from $885.00 to $900.00 and gave the company an outperform rating in a research report on Thursday, July 25th. TD Cowen increased their target price on ServiceNow from $870.00 to $900.00 and gave the stock a buy rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their target price on shares of ServiceNow from $850.00 to $880.00 and gave the company an outperform rating in a research note on Thursday, July 25th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $900.00 price target on shares of ServiceNow in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $866.24.

ServiceNow Trading Up 1.8 %

Shares of NYSE NOW traded up $16.16 during trading hours on Tuesday, hitting $922.10. 1,180,528 shares of the company traded hands, compared to its average volume of 1,284,096. The company's 50 day moving average price is $850.57 and its 200 day moving average price is $781.79. ServiceNow has a 12 month low of $527.24 and a 12 month high of $945.46. The stock has a market capitalization of $189.03 billion, a price-to-earnings ratio of 98.96, a price-to-earnings-growth ratio of 5.55 and a beta of 0.99. 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 (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating 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 business had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.61 billion. During the same quarter in the previous year, the business posted $0.77 earnings per share. The business's revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts anticipate that ServiceNow will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Paul Edward Chamberlain sold 135 shares of the business's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total transaction of $110,970.00. Following the sale, the director now directly owns 10,767 shares of the company's stock, valued at $8,850,474. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the firm's stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares of the company's stock, valued at $9,479,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 over the last three months. Corporate insiders own 0.25% of the company's stock.

Institutional Trading of ServiceNow

Several large investors have recently added to or reduced their stakes in NOW. Morling Financial Advisors LLC increased its stake in shares of ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider's stock worth $415,000 after acquiring an additional 13 shares during the period. Optas LLC raised its stake in shares of ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider's stock valued at $621,000 after buying an additional 14 shares during the last quarter. Cedar Wealth Management LLC lifted its holdings in shares of ServiceNow by 5.5% in the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider's stock valued at $204,000 after buying an additional 14 shares during the period. Financial Advocates Investment Management boosted its stake in shares of ServiceNow by 2.7% in the second quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider's stock worth $415,000 after buying an additional 14 shares during the last quarter. Finally, Ndwm LLC grew its holdings in ServiceNow by 0.6% during the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider's stock worth $1,900,000 after acquiring an additional 14 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

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.