ServiceNow (NYSE:NOW) Price Target Raised to $1,200.00 at The Goldman Sachs Group

ServiceNow (NYSE:NOW) had its target price lifted by The Goldman Sachs Group from $1,050.00 to $1,200.00 in a research report sent to investors on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the information technology services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. UBS Group raised their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Oppenheimer increased their target price on ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Citigroup raised their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company boosted their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,071.39.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,024.26 on Friday. The firm’s 50-day simple moving average is $1,064.01 and its 200 day simple moving average is $921.78. The stock has a market cap of $211.00 billion, a P/E ratio of 159.29, a P/E/G ratio of 6.43 and a beta of 0.99. ServiceNow has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. Equities analysts expect that ServiceNow will post 7.07 EPS for the current year.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock valued at $20,861,626 over the last three months. 0.25% of the stock is currently owned by insiders.

Institutional Trading of ServiceNow

Several institutional investors and hedge funds have recently made changes to their positions in the stock. HBW Advisory Services LLC raised its position in ServiceNow by 13.2% during the fourth quarter. HBW Advisory Services LLC now owns 266 shares of the information technology services provider’s stock valued at $282,000 after purchasing an additional 31 shares in the last quarter. Highline Wealth Partners LLC raised its holdings in shares of ServiceNow by 7.8% during the 4th quarter. Highline Wealth Partners LLC now owns 591 shares of the information technology services provider’s stock valued at $627,000 after buying an additional 43 shares in the last quarter. Franklin Street Advisors Inc. NC bought a new stake in ServiceNow in the 4th quarter worth approximately $200,000. Hilltop National Bank boosted its stake in ServiceNow by 22.8% in the fourth quarter. Hilltop National Bank now owns 420 shares of the information technology services provider’s stock worth $445,000 after buying an additional 78 shares in the last quarter. Finally, ORG Partners LLC grew its position in ServiceNow by 15.2% during the fourth quarter. ORG Partners LLC now owns 159 shares of the information technology services provider’s stock valued at $169,000 after acquiring an additional 21 shares during the last quarter. Hedge funds and other 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.