Analysts Set ServiceNow, Inc. (NYSE:NOW) Price Target at $1,022.37

Shares of ServiceNow, Inc. (NYSE:NOW - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-eight ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $1,022.37.

A number of brokerages have recently commented on NOW. Piper Sandler boosted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. BMO Capital Markets boosted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an "outperform" rating in a research note on Thursday, October 10th. KeyCorp raised their target price on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Oppenheimer boosted their price target on ServiceNow from $1,020.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upped their price target on ServiceNow from $820.00 to $950.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 66 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares of the company's stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,629 shares of company stock worth $20,861,626 in the last quarter. Company insiders own 0.25% of the company's stock.

Hedge Funds Weigh In On ServiceNow

Several large investors have recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC boosted its holdings in ServiceNow by 2.0% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 1,057 shares of the information technology services provider's stock worth $832,000 after buying an additional 21 shares during the period. ORG Partners LLC boosted its stake in shares of ServiceNow by 1,623.8% in the second quarter. ORG Partners LLC now owns 724 shares of the information technology services provider's stock worth $571,000 after acquiring an additional 682 shares during the period. Redhawk Wealth Advisors Inc. grew its position in shares of ServiceNow by 4.4% during the second quarter. Redhawk Wealth Advisors Inc. now owns 453 shares of the information technology services provider's stock worth $356,000 after purchasing an additional 19 shares in the last quarter. 180 Wealth Advisors LLC raised its stake in ServiceNow by 4.2% during the 2nd quarter. 180 Wealth Advisors LLC now owns 1,277 shares of the information technology services provider's stock valued at $957,000 after purchasing an additional 51 shares during the period. Finally, Baader Bank Aktiengesellschaft lifted its holdings in ServiceNow by 55.5% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,337 shares of the information technology services provider's stock worth $1,047,000 after purchasing an additional 477 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Up 1.7 %

ServiceNow stock traded up $19.42 during trading hours on Wednesday, hitting $1,147.26. 1,244,759 shares of the stock traded hands, compared to its average volume of 1,281,880. ServiceNow has a one year low of $637.99 and a one year high of $1,157.90. The firm's 50-day moving average price is $992.26 and its two-hundred day moving average price is $864.29. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $236.34 billion, a PE ratio of 178.42, a PEG ratio of 6.45 and a beta of 0.99.

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

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.