ServiceNow (NOW) Price Target Raised to $165.00

ServiceNow (NYSE:NOW) had its price target increased by research analysts at Bank of America from $140.00 to $165.00 in a report issued on Tuesday. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Bank of America’s target price points to a potential upside of 12.66% from the stock’s current price.

NOW has been the topic of a number of other reports. Robert W. Baird set a $120.00 price objective on ServiceNow and gave the stock a “buy” rating in a research report on Friday, October 6th. Stifel Nicolaus lifted their price objective on ServiceNow from $110.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. BMO Capital Markets reiterated a “buy” rating and issued a $127.00 price objective on shares of ServiceNow in a research report on Friday, October 13th. OTR Global upgraded ServiceNow to a “positive” rating in a research report on Wednesday, October 18th. Finally, Deutsche Bank lifted their price objective on ServiceNow from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have given a buy rating and three have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $139.36.

Shares of ServiceNow (NOW) traded down $0.63 during mid-day trading on Tuesday, hitting $146.46. The stock had a trading volume of 1,605,616 shares, compared to its average volume of 1,561,468. The company has a market cap of $25,860.10, a price-to-earnings ratio of -161.25 and a beta of 1.06. ServiceNow has a 12-month low of $83.42 and a 12-month high of $150.85. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.10.

In other news, CRO David Schneider sold 16,349 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $124.21, for a total value of $2,030,709.29. Following the completion of the transaction, the executive now owns 67,185 shares in the company, valued at $8,345,048.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederic B. Luddy sold 100,000 shares of the business’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $135.37, for a total value of $13,537,000.00. Following the completion of the transaction, the director now owns 240,000 shares of the company’s stock, valued at approximately $32,488,800. The disclosure for this sale can be found here. Insiders sold 480,174 shares of company stock valued at $61,929,650 in the last 90 days. Company insiders own 3.30% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank raised its stake in shares of ServiceNow by 12.3% in the second quarter. Toronto Dominion Bank now owns 2,040 shares of the information technology services provider’s stock worth $216,000 after purchasing an additional 224 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of ServiceNow by 15.5% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,238 shares of the information technology services provider’s stock worth $381,000 after purchasing an additional 434 shares during the last quarter. Exane Derivatives raised its stake in shares of ServiceNow by 90.3% in the fourth quarter. Exane Derivatives now owns 925 shares of the information technology services provider’s stock worth $121,000 after purchasing an additional 439 shares during the last quarter. ETRADE Capital Management LLC raised its stake in shares of ServiceNow by 16.7% in the third quarter. ETRADE Capital Management LLC now owns 3,206 shares of the information technology services provider’s stock worth $377,000 after purchasing an additional 458 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of ServiceNow by 5.8% in the third quarter. Comerica Bank now owns 8,422 shares of the information technology services provider’s stock worth $1,053,000 after purchasing an additional 463 shares during the last quarter.

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ServiceNow Company Profile

ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.

Analyst Recommendations for ServiceNow (NYSE:NOW)