ServiceNow (NYSE:NOW) Given New $1,210.00 Price Target at Mizuho

ServiceNow (NYSE:NOW - Get Free Report) had its price objective hoisted by equities researchers at Mizuho from $1,070.00 to $1,210.00 in a report released on Friday,Benzinga reports. The firm currently has an "outperform" rating on the information technology services provider's stock. Mizuho's target price indicates a potential upside of 7.93% from the company's current price.

Several other research analysts have also issued reports on NOW. TD Cowen increased their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a "buy" rating in a report on Tuesday. Barclays increased their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Jefferies Financial Group boosted their price target on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. Scotiabank initiated coverage on shares of ServiceNow in a report on Tuesday, November 19th. They issued a "sector outperform" rating and a $1,230.00 target price on the stock. Finally, Truist Financial boosted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the stock a "hold" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,034.96.

ServiceNow Stock Down 2.4 %

Shares of ServiceNow stock traded down $27.32 during trading on Friday, reaching $1,121.10. 1,338,722 shares of the company traded hands, compared to its average volume of 1,279,650. The firm has a market capitalization of $230.95 billion, a PE ratio of 178.64, a P/E/G ratio of 6.58 and a beta of 0.99. ServiceNow has a 1-year low of $637.99 and a 1-year high of $1,157.90. The company has a 50 day moving average price of $1,002.75 and a 200-day moving average price of $868.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

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

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the business's 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 owns 3,027 shares of the company's stock, valued at $2,799,853.92. The trade was a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the sale, the director now owns 11,000 shares in the company, valued at $11,710,600. The trade was a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock worth $20,861,626 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of ServiceNow

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Brookstone Capital Management grew its position in shares of ServiceNow by 25.5% during the 2nd quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider's stock valued at $10,595,000 after purchasing an additional 2,928 shares in the last quarter. Portman Square Capital LLP raised its holdings in shares of ServiceNow by 108.7% in the 2nd quarter. Portman Square Capital LLP now owns 2,511 shares of the information technology services provider's stock valued at $1,975,000 after acquiring an additional 31,360 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of ServiceNow in the 2nd quarter valued at about $125,916,000. Chesley Taft & Associates LLC boosted its position in shares of ServiceNow by 1.9% during the 2nd quarter. Chesley Taft & Associates LLC now owns 3,881 shares of the information technology services provider's stock valued at $3,053,000 after acquiring an additional 71 shares during the last quarter. Finally, Western Wealth Management LLC increased its position in shares of ServiceNow by 22.9% in the second quarter. Western Wealth Management LLC now owns 2,005 shares of the information technology services provider's stock worth $1,577,000 after purchasing an additional 374 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

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.