ServiceNow (NYSE:NOW) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of ServiceNow (NYSE:NOW) in a report issued on Tuesday, Benzinga reports. The firm currently has a $900.00 price target on the information technology services provider’s stock.

NOW has been the topic of a number of other reports. Stifel Nicolaus reaffirmed a buy rating and issued a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. UBS Group reduced their price target on ServiceNow from $920.00 to $875.00 and set a buy rating on the stock in a report on Thursday, April 25th. 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 report on Thursday, January 18th. William Blair reissued an outperform rating on shares of ServiceNow in a research note on Thursday, April 25th. Finally, Mizuho lifted their price target on shares of ServiceNow from $750.00 to $820.00 and gave the company a buy rating in a research report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $807.88.

ServiceNow Trading Down 1.8 %

Shares of NOW stock opened at $713.53 on Tuesday. The stock has a 50 day simple moving average of $751.22 and a 200-day simple moving average of $717.54. ServiceNow has a 1-year low of $429.05 and a 1-year high of $815.32. The company has a market cap of $146.54 billion, a price-to-earnings ratio of 76.31, a PEG ratio of 4.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow 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 completion of the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Insiders have sold a total of 11,369 shares of company stock worth $8,538,300 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NOW. Vanguard Group Inc. grew its stake in shares of ServiceNow by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after purchasing an additional 122,577 shares during the period. FMR LLC boosted its holdings in ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after buying an additional 595,697 shares in the last quarter. Jennison Associates LLC grew its position in ServiceNow by 2.2% during the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after buying an additional 53,719 shares during the period. Norges Bank acquired a new stake in shares of ServiceNow during the 4th quarter valued at approximately $1,648,259,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in ServiceNow by 3.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after purchasing an additional 81,028 shares during the last quarter. Institutional investors and hedge funds 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.