ServiceNow (NYSE:NOW) Given New $155.00 Price Target at Deutsche Bank Aktiengesellschaft

ServiceNow (NYSE:NOW) had its price objective hoisted by investment analysts at Deutsche Bank Aktiengesellschaft from $135.00 to $155.00 in a research note issued on Monday. The firm currently has a “buy” rating on the information technology services provider’s stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 10.16% from the company’s current price.

NOW has been the topic of a number of other reports. KeyCorp reaffirmed an “underweight” rating on shares of ServiceNow in a research note on Tuesday, July 21st. BTIG Research increased their price target on shares of ServiceNow from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. DA Davidson set a $170.00 price objective on ServiceNow and gave the stock a “buy” rating in a report on Monday, July 20th. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, Needham & Company LLC lifted their price objective on ServiceNow from $115.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

ServiceNow Trading Up 2.7%

NYSE NOW opened at $140.70 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $145.48 billion, a price-to-earnings ratio of 87.94, a PEG ratio of 2.52 and a beta of 0.97. The stock’s 50-day simple moving average is $125.26 and its two-hundred day simple moving average is $110.61. ServiceNow has a twelve month low of $81.24 and a twelve month high of $194.73.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.ServiceNow’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period last year, the firm posted $0.81 EPS. Research analysts forecast that ServiceNow will post 2.22 EPS for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 7,847 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the transaction, the insider owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. The trade was a 20.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the transaction, the director owned 43,990 shares in the company, valued at $5,960,645. This represents a 5.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,081 shares of company stock valued at $1,937,904 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of ServiceNow

A number of large investors have recently made changes to their positions in the stock. QRG Capital Management Inc. raised its holdings in shares of ServiceNow by 6.8% during the second quarter. QRG Capital Management Inc. now owns 132,947 shares of the information technology services provider’s stock valued at $13,199,000 after purchasing an additional 8,486 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in ServiceNow by 61.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 52,800 shares of the information technology services provider’s stock valued at $5,242,000 after purchasing an additional 20,173 shares during the period. State Street Corp boosted its holdings in ServiceNow by 2.0% in the second quarter. State Street Corp now owns 49,038,218 shares of the information technology services provider’s stock worth $4,868,514,000 after purchasing an additional 979,726 shares during the last quarter. National Pension Service grew its position in ServiceNow by 5.8% in the 2nd quarter. National Pension Service now owns 2,705,240 shares of the information technology services provider’s stock worth $268,576,000 after purchasing an additional 147,467 shares during the period. Finally, WINTON GROUP Ltd grew its position in ServiceNow by 45.9% in the 2nd quarter. WINTON GROUP Ltd now owns 132,411 shares of the information technology services provider’s stock worth $13,146,000 after purchasing an additional 41,653 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Company Profile

ServiceNow, Inc is a cloud-based enterprise software company that provides digital workflow and automation solutions. Its Now Platform enables organizations to manage and connect business processes across information technology, customer service, human resources, finance, legal operations and other departments.

The company’s products and services include IT service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance management, strategic portfolio management and application development tools.