ServiceNow (NYSE:NOW) PT increased to 784.00 USD

ServiceNow (NYSE: NOW) According to The Fly report, in a research report released on Friday, Barclays stock researchers raised its target price from $667.00 to $784.00. The brokerage currently gives an “overweight” rating to the information technology service provider’s stock. Barclays’ price target indicates that the stock has 19.45% potential upside from the closing price of the previous trading day. Analysts pointed out that the move is a valuation conference call.

It has now been the subject of several other reports. Needham & Company LLC raised ServiceNow’s price target from $591.00 to $641.00 in a report on Thursday, July 29, and gave the company a “buy” rating. Stifel Nicolaus raised ServiceNow’s target price from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, July 29. Bank of America raised ServiceNow’s target price from US$680.00 to US$700.00 and gave the company a “Buy” rating in its research report on Thursday, July 29. Robert W. Baird raised ServiceNow’s target price from US$340.00 to US$390.00, and gave the company an “outperform” rating in a research report on Thursday, July 29. Finally, Zacks Investment Research downgraded ServiceNow from a “strong buy” rating to a “hold” rating and set a target price of $614.00 for the stock. In a research report on Tuesday, August 3. Two research analysts have a hold rating on the stock, 29 have a buy rating, and one has a strong buy rating on the stock. According to MarketBeat data, the current average rating of the stock is “Buy” and the average target price is $646.20.

New York Stock Exchange: The opening price on Friday was $656.35. The company’s debt-to-equity ratio is 0.45, quick ratio is 1.08, and current ratio is 1.08. The company’s market capitalization is $130.02 billion, a P/E ratio of 781.38, a P/E ratio of 17.05, and a beta of 0.92. ServiceNow’s 52-week low was $442.00 and the 52-week high was $681.10. The company’s 50-day moving average price is US$604.05, and the two-hundred-day moving average price is US$539.96.

ServiceNow (NYSE: NOW) last released quarterly earnings data on Wednesday, July 28. The information technology service provider reported earnings per share of US$1.42 for the quarter, which was US$1.26 higher than the Thomson Reuters consensus estimate of US$0.16. ServiceNow’s net profit margin is 3.30%, and the return on equity is 9.10%. As a whole, sell-side analysts forecast ServiceNow’s earnings per share for the year to be 1.35.

In other ServiceNow news, Chief Financial Officer Gina Mastantuono sold 4,553 shares in a transaction that occurred on Monday, August 2. The stock was sold at an average price of US$587.89 for a total value of US$2,676,663.17. After the sale is completed, the chief financial officer now owns 1,516 shares of the company, valued at approximately US$891,241.24. The transaction has been disclosed in a document submitted to the US Securities and Exchange Commission, which can be found at this link. In addition, director Paul Edward Chamberlain sold 75 shares in trading on Wednesday, June 23. The stock was sold at an average price of $545.00 for a total value of $40,875.00. After the sale is completed, the directors now own 10,056 shares of the company, valued at approximately US$5,480,520. The disclosure of this sale can be found here. Insiders sold a total of 31,283 shares of the company’s stock in the last quarter, valued at $17,400,568. Company insiders own 0.35% of the company’s shares.

Several hedge funds and other institutional investors have recently changed their positions in NOW. Standard Life Aberdeen plc increased its holdings of ServiceNow shares by 6.4% in the first quarter. Standard Life Aberdeen plc now owns 67,800 shares of this information technology service provider, valued at $33,944,000, and purchased 4,054 shares in the last quarter. Scotia Capital Inc. increased its stake in ServiceNow by 6.4% in the first quarter. After purchasing an additional 232 shares last quarter, Scotia Capital Inc. now owns 3,846 shares of the information technology service provider, valued at $1,923,000. Alliancebernstein LP increased its stake in ServiceNow by 14.2% in the first quarter. After purchasing an additional 57,417 shares last quarter, Alliancebernstein LP now owns 461,526 shares of the information technology service provider, valued at $230,814,000. Abundance Wealth Counselors purchased a new position in ServiceNow stock worth approximately $100,000 in the first quarter. Finally, Blueshift Asset Management LLC purchased a new position in ServiceNow stock worth approximately $1,701,000 in the first quarter. 85.42% of stocks are currently held by hedge funds and other institutional investors.

ServiceNow Company Profile

ServiceNow, Inc is engaged in providing enterprise cloud computing solutions. The company provides digital workflows on a single enterprise cloud platform called Now Platform. Its product portfolio focuses on providing information technology, employee and customer workflows. It provides solutions for industries such as government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer goods.

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