ServiceNow (NYSE:NOW) Given New $830.00 Price Target at BMO Capital Markets

ServiceNow (NYSE:NOW) had its target price decreased by BMO Capital Markets from $850.00 to $830.00 in a research report sent to investors on Thursday, Marketbeat Ratings reports. BMO Capital Markets currently has an outperform rating on the information technology services provider’s stock.

A number of other analysts have also recently weighed in on NOW. Citigroup raised their target price on shares of ServiceNow from $896.00 to $906.00 and gave the stock a buy rating in a report on Thursday, April 18th. Guggenheim reaffirmed a neutral rating on shares of ServiceNow in a research note on Monday, April 15th. Royal Bank of Canada raised their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Needham & Company LLC reaffirmed a buy rating and issued a $900.00 price objective on shares of ServiceNow in a research note on Tuesday, April 16th. Finally, Oppenheimer raised their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the stock an outperform rating in a research note on Thursday, January 18th. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $792.00.

ServiceNow Trading Up 1.0 %

Shares of NYSE:NOW opened at $723.55 on Thursday. The stock has a market capitalization of $148.60 billion, a price-to-earnings ratio of 77.39, a PEG ratio of 4.57 and a beta of 0.97. ServiceNow has a 1-year low of $427.68 and a 1-year high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. The company has a 50 day moving average price of $759.21 and a 200 day moving average price of $708.95.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. On average, research analysts anticipate that ServiceNow will post 6.16 EPS for the current fiscal year.

Insider Activity

In other news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. PFG Private Wealth Management LLC bought a new position in ServiceNow in the 3rd quarter worth $28,000. University of Texas Texas AM Investment Managment Co. bought a new position in ServiceNow in the 4th quarter worth $29,000. AdvisorNet Financial Inc raised its holdings in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares during the period. Steward Financial Group LLC raised its holdings in ServiceNow by 125.0% in the 3rd quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 35 shares during the period. Finally, Princeton Global Asset Management LLC bought a new position in ServiceNow in the 3rd quarter worth $35,000. 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.