DZ Bank Begins Coverage on ServiceNow (NYSE:NOW)

DZ Bank began coverage on shares of ServiceNow (NYSE:NOW) in a research report sent to investors on Wednesday, Price Targets.com reports. The firm issued a buy rating and a $725.00 price target on the information technology services provider’s stock.

Other analysts have also issued research reports about the company. Truist Securities upped their target price on ServiceNow from $575.00 to $640.00 and gave the stock a buy rating in a report on Thursday, July 29th. Needham & Company LLC increased their price objective on ServiceNow from $591.00 to $641.00 and gave the company a buy rating in a report on Thursday, July 29th. Oppenheimer started coverage on ServiceNow in a report on Friday, August 20th. They set an outperform rating and a $700.00 price objective for the company. Bank of America increased their price objective on ServiceNow from $680.00 to $700.00 and gave the company a buy rating in a report on Thursday, July 29th. Finally, The Goldman Sachs Group increased their price objective on ServiceNow from $695.00 to $725.00 in a report on Thursday, July 29th. Two investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average price target of $648.74.

ServiceNow stock opened at $666.31 on Wednesday. The business has a fifty day moving average of $615.69 and a two-hundred day moving average of $546.50. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market cap of $132.00 billion, a P/E ratio of 793.24, a P/E/G ratio of 17.05 and a beta of 0.92. ServiceNow has a twelve month low of $448.27 and a twelve month high of $681.10.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 28th. The information technology services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $1.26. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.36 billion. ServiceNow had a return on equity of 9.10% and a net margin of 3.30%. Equities analysts expect that ServiceNow will post 1.35 earnings per share for the current year.

In other news, insider Fay Sien Goon sold 979 shares of the firm’s stock in a transaction dated Friday, August 20th. The stock was sold at an average price of $599.36, for a total transaction of $586,773.44. Following the sale, the insider now directly owns 4,498 shares in the company, valued at approximately $2,695,921.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence Jackson sold 422 shares of the firm’s stock in a transaction dated Tuesday, August 31st. The shares were sold at an average price of $642.69, for a total transaction of $271,215.18. Following the completion of the transaction, the director now directly owns 707 shares in the company, valued at $454,381.83. The disclosure for this sale can be found here. Insiders have sold a total of 31,208 shares of company stock worth $17,359,693 over the last 90 days. Insiders own 0.35% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in ServiceNow by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 15,703,111 shares of the information technology services provider’s stock valued at $8,629,644,000 after buying an additional 103,215 shares in the last quarter. State Street Corp lifted its stake in ServiceNow by 1.2% in the 2nd quarter. State Street Corp now owns 7,591,945 shares of the information technology services provider’s stock valued at $4,172,153,000 after buying an additional 88,975 shares in the last quarter. Morgan Stanley lifted its stake in ServiceNow by 1.2% in the 2nd quarter. Morgan Stanley now owns 7,277,395 shares of the information technology services provider’s stock valued at $3,999,292,000 after buying an additional 86,441 shares in the last quarter. Polen Capital Management LLC lifted its stake in ServiceNow by 4.7% in the 2nd quarter. Polen Capital Management LLC now owns 3,510,696 shares of the information technology services provider’s stock valued at $1,929,303,000 after buying an additional 156,160 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in ServiceNow by 1.4% in the 2nd quarter. Franklin Resources Inc. now owns 3,398,943 shares of the information technology services provider’s stock valued at $1,867,889,000 after buying an additional 48,531 shares in the last quarter. 85.42% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Company Profile

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.

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Analyst Recommendations for ServiceNow (NYSE:NOW)

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