ServiceNow (NYSE:NOW) Earns Market Outperform Rating from JMP Securities

ServiceNow (NYSE:NOW)‘s stock had its “market outperform” rating reaffirmed by equities researchers at JMP Securities in a report issued on Tuesday, Benzinga reports. They currently have a $825.00 price objective on the information technology services provider’s stock. JMP Securities’ target price would suggest a potential upside of 10.53% from the company’s current price.

Several other equities research analysts also recently commented on the stock. Royal Bank of Canada boosted their target price on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Piper Sandler upped their price target on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Stifel Nicolaus reiterated a “buy” rating and set a $820.00 price target on shares of ServiceNow in a research report on Wednesday, March 20th. Wells Fargo & Company upped their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, The Goldman Sachs Group upped their price target on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $780.37.

ServiceNow Stock Up 0.7 %

Shares of NYSE:NOW opened at $746.39 on Tuesday. ServiceNow has a 52 week low of $427.68 and a 52 week high of $815.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The company’s fifty day moving average is $761.32 and its 200-day moving average is $706.74. The company has a market capitalization of $153.29 billion, a PE ratio of 88.75, a P/E/G ratio of 4.56 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. Equities research analysts predict that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Paul John Smith sold 1,180 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was 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 $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock valued at $9,940,303 in the last ninety days. 0.25% of the stock is owned by insiders.

Institutional Trading of ServiceNow

Large investors have recently bought and sold shares of the business. Sandbox Financial Partners LLC increased its stake in ServiceNow by 8.6% during the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after purchasing an additional 66 shares in the last quarter. Federated Hermes Inc. boosted its position in ServiceNow by 19.8% during the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after acquiring an additional 49,631 shares during the last quarter. Raymond James & Associates boosted its position in ServiceNow by 5.9% during the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after acquiring an additional 18,442 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in ServiceNow by 15.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after acquiring an additional 3,438 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in ServiceNow by 4.7% during the 4th quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock worth $49,560,000 after acquiring an additional 3,154 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

About ServiceNow

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.