ServiceNow (NYSE:NOW) Rating Reiterated by JMP Securities

ServiceNow (NYSE:NOW)‘s stock had its “market outperform” rating reaffirmed by stock analysts at JMP Securities in a note issued to investors on Tuesday, Benzinga reports. They presently have a $825.00 price objective on the information technology services provider’s stock. JMP Securities’ price objective suggests a potential upside of 10.53% from the stock’s previous close.

A number of other equities research analysts have also weighed in on NOW. Piper Sandler raised their price target on shares of ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Mizuho raised their price target on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Citigroup raised their price target on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Royal Bank of Canada raised their price target on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Oppenheimer raised their price target on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $780.37.

ServiceNow Price Performance

ServiceNow stock opened at $746.39 on Tuesday. ServiceNow has a 52-week low of $427.68 and a 52-week high of $815.32. The firm has a fifty day moving average of $761.32 and a 200-day moving average of $706.74. The firm has a market capitalization of $153.29 billion, a P/E ratio of 88.75, a PEG ratio of 4.56 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. As a group, analysts predict that ServiceNow will post 6.16 EPS for the current year.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated 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 owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Paul John Smith sold 1,180 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is currently owned by insiders.

Institutional Trading of ServiceNow

Large investors have recently modified their holdings of the company. 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 valued at $590,000 after buying an additional 66 shares during the period. Federated Hermes Inc. increased its stake 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 valued at $212,033,000 after buying an additional 49,631 shares during the period. Raymond James & Associates increased its stake 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 valued at $234,135,000 after buying an additional 18,442 shares during the period. Sequoia Financial Advisors LLC increased its stake 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 valued at $18,175,000 after buying an additional 3,438 shares during the period. Finally, Fifth Third Bancorp increased its stake 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 valued at $49,560,000 after buying an additional 3,154 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

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.