ServiceNow (NYSE:NOW) Price Target Increased to $900.00 by Analysts at Deutsche Bank Aktiengesellschaft

ServiceNow (NYSE:NOW) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $875.00 to $900.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

A number of other analysts also recently issued reports on NOW. Canaccord Genuity Group reiterated a buy rating and issued a $835.00 price objective on shares of ServiceNow in a report on Tuesday. Royal Bank of Canada increased their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the stock an outperform rating in a research note on Thursday. Citigroup raised their price objective on ServiceNow from $909.00 to $911.00 and gave the company a buy rating in a report on Wednesday, July 17th. JMP Securities reissued a market outperform rating and set a $825.00 price target on shares of ServiceNow in a research report on Tuesday, May 7th. Finally, Morgan Stanley raised their price target on ServiceNow from $814.00 to $830.00 and gave the company an overweight rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has an average rating of Moderate Buy and a consensus price target of $833.57.

ServiceNow Stock Performance

Shares of NOW stock opened at $828.16 on Thursday. ServiceNow has a 52 week low of $527.24 and a 52 week high of $850.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50 day moving average price is $742.77 and its two-hundred day moving average price is $750.01. The company has a market capitalization of $169.77 billion, a P/E ratio of 88.57, a price-to-earnings-growth ratio of 4.58 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 15.01% and a net margin of 11.51%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. On average, analysts expect that ServiceNow will post 6.5 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the sale, the insider now directly owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the sale, the insider now owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,530 shares of company stock worth $3,997,012. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Hedge funds have recently modified their holdings of the business. Federated Hermes Inc. grew its position in shares of ServiceNow by 19.8% in the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock valued at $212,033,000 after buying an additional 49,631 shares during the last quarter. M&G Plc acquired a new stake in ServiceNow during the 1st quarter valued at approximately $11,030,000. Smithfield Trust Co raised its holdings in ServiceNow by 36.4% during the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after purchasing an additional 262 shares during the last quarter. Dohj LLC acquired a new position in shares of ServiceNow in the 4th quarter worth approximately $913,000. Finally, New Mexico Educational Retirement Board boosted its stake in shares of ServiceNow by 9.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

About ServiceNow

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.