ServiceNow (NYSE:NOW) had its price objective boosted by research analysts at BMO Capital Markets from $133.00 to $165.00 in a report released on Thursday. The firm currently has an “outperform” rating on the information technology services provider’s stock. BMO Capital Markets’ target price indicates a potential upside of 10.83% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on NOW. KeyCorp restated a “buy” rating and issued a $165.00 price target on shares of ServiceNow in a research note on Thursday. Morgan Stanley raised their price target on shares of ServiceNow from $163.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday. Bank of America raised their price target on shares of ServiceNow from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday. Northland Securities restated a “buy” rating and issued a $135.00 price target on shares of ServiceNow in a research note on Thursday, October 19th. Finally, JMP Securities raised their price target on shares of ServiceNow from $136.00 to $140.00 and gave the company a “market outperform” rating in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $142.11.
Shares of ServiceNow (NOW) opened at $148.87 on Thursday. ServiceNow has a one year low of $83.42 and a one year high of $150.85. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 2.10. The firm has a market cap of $25,316.09, a P/E ratio of -163.59 and a beta of 1.06.
In other ServiceNow news, Director Frederic B. Luddy sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $135.37, for a total transaction of $13,537,000.00. Following the completion of the transaction, the director now owns 240,000 shares in the company, valued at approximately $32,488,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO David Schneider sold 16,349 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $124.21, for a total transaction of $2,030,709.29. Following the transaction, the executive now owns 67,185 shares of the company’s stock, valued at approximately $8,345,048.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 480,174 shares of company stock valued at $61,929,650. Company insiders own 3.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Beacon Capital Management bought a new position in ServiceNow during the 4th quarter worth approximately $0. Cullen Frost Bankers Inc. increased its stake in shares of ServiceNow by 0.5% in the 4th quarter. Cullen Frost Bankers Inc. now owns 3,192 shares of the information technology services provider’s stock valued at $276,000 after acquiring an additional 17 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of ServiceNow by 0.6% in the 4th quarter. Bessemer Group Inc. now owns 4,090 shares of the information technology services provider’s stock valued at $304,000 after acquiring an additional 23 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of ServiceNow by 0.8% in the 2nd quarter. CIBC Asset Management Inc now owns 5,902 shares of the information technology services provider’s stock valued at $392,000 after acquiring an additional 45 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in shares of ServiceNow by 0.3% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 18,156 shares of the information technology services provider’s stock valued at $1,572,000 after acquiring an additional 56 shares in the last quarter.
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About ServiceNow
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.
