ServiceNow (NYSE:NOW) Price Target Increased to $900.00 by Analysts at Wells Fargo & Company

ServiceNow (NYSE:NOW) had its price target hoisted by Wells Fargo & Company from $875.00 to $900.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.

NOW has been the topic of several other research reports. BMO Capital Markets raised their price objective on ServiceNow from $630.00 to $850.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. JMP Securities raised their price objective on ServiceNow from $665.00 to $825.00 and gave the stock a market outperform rating in a research note on Monday, January 22nd. Truist Financial raised their price objective on ServiceNow from $700.00 to $750.00 and gave the stock a hold rating in a research note on Thursday, January 25th. Needham & Company LLC reaffirmed a buy rating and issued a $900.00 price objective on shares of ServiceNow in a research note on Tuesday. Finally, Piper Sandler increased their target price on ServiceNow from $750.00 to $830.00 and gave the stock an overweight rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow presently has an average rating of Moderate Buy and an average target price of $780.37.

ServiceNow Stock Down 2.3 %

NOW stock opened at $714.21 on Tuesday. ServiceNow has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The business’s 50-day moving average is $764.19 and its two-hundred day moving average is $701.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $146.68 billion, a price-to-earnings ratio of 84.92, a P/E/G ratio of 4.62 and a beta of 0.97.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the company earned $0.88 earnings per share. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, analysts forecast that ServiceNow will post 6.16 earnings per share for the current year.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of ServiceNow during the 4th quarter worth approximately $1,648,259,000. Moneta Group Investment Advisors LLC lifted its stake in shares of ServiceNow by 69,897.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock worth $332,386,000 after acquiring an additional 854,846 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of ServiceNow by 69,354.6% during the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after acquiring an additional 820,465 shares during the last quarter. FMR LLC lifted its stake in shares of ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after acquiring an additional 595,697 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of ServiceNow by 129.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock worth $386,082,000 after acquiring an additional 560,908 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.