ServiceNow (NYSE:NOW) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

ServiceNow (NYSE:NOW) had its price objective raised by equities research analysts at Cantor Fitzgerald from $174.00 to $201.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. Cantor Fitzgerald‘s target price suggests a potential upside of 26.18% from the company’s previous close.

A number of other research firms have also recently commented on NOW. Evercore reissued an “outperform” rating on shares of ServiceNow in a research report on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of ServiceNow from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, September 21st. Sanford C. Bernstein restated an “outperform” rating and set a $266.00 target price on shares of ServiceNow in a research report on Tuesday, October 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $165.00 price target (up from $140.00) on shares of ServiceNow in a report on Tuesday, October 13th. Finally, Royal Bank Of Canada increased their price target on ServiceNow from $130.00 to $176.00 and gave the stock an “outperform” rating in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $155.74.

ServiceNow Stock Up 0.2%

Shares of NYSE NOW opened at $159.29 on Monday. The stock has a market capitalization of $164.71 billion, a PE ratio of 99.56, a price-to-earnings-growth ratio of 2.92 and a beta of 0.99. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow has a 12-month low of $81.24 and a 12-month high of $192.97. The stock’s fifty day simple moving average is $137.87 and its two-hundred day simple moving average is $115.48.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 7,847 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the transaction, the insider directly owned 30,042 shares in the company, valued at $4,145,796. The trade was a 20.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 2,034 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the transaction, the insider directly owned 18,305 shares in the company, valued at $2,706,760.35. This trade represents a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 14,081 shares of company stock valued at $1,937,904. 0.34% of the stock is owned by insiders.

Institutional Trading of ServiceNow

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in ServiceNow in the second quarter worth approximately $9,536,615,000. Bank of New York Mellon Corp acquired a new position in shares of ServiceNow in the 2nd quarter valued at $712,573,000. Legal & General Group Plc purchased a new position in shares of ServiceNow during the 2nd quarter worth $641,888,000. Bank of America Corp DE acquired a new stake in shares of ServiceNow during the 2nd quarter worth about $627,355,000. Finally, Deutsche Bank AG acquired a new stake in shares of ServiceNow during the 2nd quarter worth about $595,157,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Company Profile

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.