ServiceNow (NYSE:NOW – Free Report) had its price target lifted by Barclays from $980.00 to $1,000.00 in a research note released on Thursday, Benzinga reports. Barclays currently has an overweight rating on the information technology services provider’s stock.
Other analysts have also issued reports about the stock. Needham & Company LLC raised their price objective on shares of ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group boosted their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Citigroup increased their target price on ServiceNow from $915.00 to $1,068.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Mizuho boosted their price target on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their price objective on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $970.33.
View Our Latest Report on ServiceNow
ServiceNow Price Performance
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, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. Equities research analysts forecast that ServiceNow will post 7.41 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,467 shares of company stock worth $4,450,447 over the last three months. 0.25% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On ServiceNow
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of ServiceNow by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after buying an additional 34,855 shares in the last quarter. Swedbank AB boosted its stake in ServiceNow by 10.3% during the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after buying an additional 120,983 shares during the last quarter. International Assets Investment Management LLC grew its holdings in ServiceNow by 89,137.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after buying an additional 1,183,739 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in ServiceNow by 21.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock worth $750,513,000 after acquiring an additional 168,734 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.
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.
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