ServiceNow (NYSE:NOW) Given Market Outperform Rating at JMP Securities

JMP Securities reissued their market outperform rating on shares of ServiceNow (NYSE:NOW) in a research note published on Tuesday morning, Benzinga reports. The firm currently has a $825.00 price target on the information technology services provider’s stock.

Several other research firms have also weighed in on NOW. StockNews.com lowered ServiceNow from a buy rating to a hold rating in a research note on Friday, April 26th. UBS Group dropped their price objective on ServiceNow from $920.00 to $875.00 and set a buy rating for the company in a research note on Thursday, April 25th. Citigroup boosted their target price on shares of ServiceNow from $896.00 to $906.00 and gave the company a buy rating in a research note on Thursday, April 18th. Royal Bank of Canada increased their target price on shares of ServiceNow from $840.00 to $850.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Finally, Truist Financial boosted their price target on shares of ServiceNow from $700.00 to $750.00 and gave the company a hold rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of Moderate Buy and an average price target of $807.88.

ServiceNow Stock Performance

NYSE NOW opened at $713.53 on Tuesday. ServiceNow has a twelve month low of $429.05 and a twelve month high of $815.32. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a market cap of $146.54 billion, a P/E ratio of 76.31, a PEG ratio of 4.50 and a beta of 0.98. The company’s 50-day simple moving average is $751.22 and its 200 day simple moving average is $717.54.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the business’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 transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO William R. Mcdermott sold 5,030 shares of the business’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 sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul John Smith sold 1,180 shares of the 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 transaction, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,369 shares of company stock valued at $8,538,300. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow during the 4th quarter worth approximately $29,000. AdvisorNet Financial Inc boosted its holdings in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in ServiceNow in the third quarter valued at $35,000. Disciplined Equity Management Inc. acquired a new stake in ServiceNow in the 4th quarter valued at $35,000. Finally, Sachetta LLC acquired a new position in shares of ServiceNow during the 4th quarter worth about $35,000. 87.18% of the stock is owned by institutional investors and hedge funds.

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.