ServiceNow (NYSE:NOW) Given New $885.00 Price Target at Robert W. Baird

ServiceNow (NYSE:NOW) had its price objective increased by Robert W. Baird from $870.00 to $885.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the information technology services provider’s stock. Robert W. Baird’s price target suggests a potential upside of 21.81% from the stock’s previous close.

A number of other equities analysts have also recently commented on NOW. Wells Fargo & Company lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. BMO Capital Markets decreased their price objective on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Royal Bank of Canada lifted their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Finally, Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $807.88.

ServiceNow Price Performance

NOW stock opened at $726.57 on Tuesday. ServiceNow has a 12 month low of $429.05 and a 12 month high of $815.32. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $752.29 and a 200 day moving average price of $716.34. The stock has a market cap of $149.22 billion, a PE ratio of 77.71, a P/E/G ratio of 4.50 and a beta of 0.98.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, 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 this hyperlink. Also, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,369 shares of company stock valued at $8,538,300. Insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several large investors have recently made changes to their positions in NOW. Nvwm LLC lifted its stake in shares of ServiceNow by 1.6% in the 1st quarter. Nvwm LLC now owns 1,929 shares of the information technology services provider’s stock valued at $1,471,000 after purchasing an additional 30 shares during the period. Allen Investment Management LLC raised its position in ServiceNow by 6.0% during the first quarter. Allen Investment Management LLC now owns 120,967 shares of the information technology services provider’s stock worth $92,225,000 after acquiring an additional 6,812 shares during the period. Sustainable Insight Capital Management LLC raised its position in ServiceNow by 27.3% during the first quarter. Sustainable Insight Capital Management LLC now owns 466 shares of the information technology services provider’s stock worth $355,000 after acquiring an additional 100 shares during the period. Oppenheimer & Co. Inc. raised its position in ServiceNow by 7.0% during the first quarter. Oppenheimer & Co. Inc. now owns 5,939 shares of the information technology services provider’s stock worth $4,528,000 after acquiring an additional 387 shares during the period. Finally, Prospera Private Wealth LLC acquired a new position in ServiceNow during the first quarter worth $237,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

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.