ServiceNow (NYSE:NOW) had its target price raised by research analysts at Stifel Nicolaus from $450.00 to $460.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Stifel Nicolaus’ target price points to a potential upside of 4.74% from the company’s current price.
Several other equities analysts have also weighed in on the stock. Credit Suisse Group increased their price objective on shares of ServiceNow from $460.00 to $465.00 and gave the company an “outperform” rating in a research report on Thursday. Barclays increased their price target on shares of ServiceNow from $380.00 to $485.00 and gave the company an “overweight” rating in a report on Monday, July 20th. SunTrust Banks boosted their price objective on ServiceNow from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Canaccord Genuity upped their target price on ServiceNow from $375.00 to $475.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Mizuho lifted their price target on ServiceNow from $320.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. ServiceNow presently has an average rating of “Buy” and a consensus target price of $433.85.
NYSE:NOW opened at $439.20 on Thursday. ServiceNow has a 12-month low of $213.99 and a 12-month high of $454.70. The firm has a market capitalization of $82.27 billion, a price-to-earnings ratio of 119.35, a P/E/G ratio of 15.19 and a beta of 1.34. The stock’s 50 day moving average price is $413.30 and its two-hundred day moving average price is $348.33. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 0.46.
In other news, insider Chirantan Jitendra Desai sold 1,560 shares of ServiceNow stock in a transaction on Friday, May 8th. The stock was sold at an average price of $384.00, for a total value of $599,040.00. Following the transaction, the insider now owns 26,361 shares in the company, valued at approximately $10,122,624. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Miller sold 50,000 shares of ServiceNow stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $354.56, for a total value of $17,728,000.00. Following the completion of the transaction, the director now owns 52,983 shares in the company, valued at approximately $18,785,652.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,794 shares of company stock valued at $48,071,718. 1.00% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in NOW. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in ServiceNow by 43.9% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 82 shares of the information technology services provider’s stock worth $33,000 after acquiring an additional 25 shares in the last quarter. Fulton Breakefield Broenniman LLC raised its position in ServiceNow by 2.2% in the second quarter. Fulton Breakefield Broenniman LLC now owns 1,172 shares of the information technology services provider’s stock valued at $475,000 after purchasing an additional 25 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of ServiceNow by 31.7% during the second quarter. Farmers & Merchants Investments Inc. now owns 108 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 26 shares in the last quarter. Veracity Capital LLC grew its holdings in shares of ServiceNow by 3.8% during the first quarter. Veracity Capital LLC now owns 770 shares of the information technology services provider’s stock worth $221,000 after purchasing an additional 28 shares during the last quarter. Finally, CNB Bank increased its stake in shares of ServiceNow by 3.4% in the second quarter. CNB Bank now owns 905 shares of the information technology services provider’s stock valued at $367,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 92.11% of the company’s stock.
ServiceNow Company Profile
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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