ServiceNow’s (NOW) “Market Outperform” Rating Reiterated at JMP Securities

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

A number of other brokerages also recently issued reports on NOW. Citigroup raised their price target on shares of ServiceNow from $896.00 to $906.00 and gave the stock a buy rating in a report on Thursday, April 18th. Robert W. Baird raised their price target on shares of ServiceNow from $780.00 to $870.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Piper Sandler raised their price target on shares of ServiceNow from $750.00 to $830.00 and gave the stock an overweight rating in a report on Thursday, January 25th. The Goldman Sachs Group raised their price target on shares of ServiceNow from $800.00 to $910.00 and gave the stock a buy rating in a report on Thursday, January 25th. Finally, Needham & Company LLC restated a buy rating and set a $900.00 price target on shares of ServiceNow in a report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of Moderate Buy and an average price target of $782.85.

ServiceNow Stock Down 4.0 %

NOW stock opened at $716.25 on Tuesday. The company has a market cap of $147.10 billion, a price-to-earnings ratio of 76.60, a PEG ratio of 4.72 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow has a 12 month low of $427.68 and a 12 month high of $815.32. The firm has a 50-day moving average of $760.05 and a two-hundred day moving average of $706.80.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 20.34% and a return on equity of 14.00%. ServiceNow’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 EPS. As a group, analysts forecast that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now owns 994 shares of the company’s stock, valued at approximately $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on 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 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 13,164 shares of company stock valued at $9,940,303 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several institutional investors have recently modified their holdings of NOW. PFG Private Wealth Management LLC purchased a new stake in shares of ServiceNow during the 3rd quarter worth $28,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow during the 4th quarter worth $29,000. AdvisorNet Financial Inc raised its stake in ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Steward Financial Group LLC raised its stake in ServiceNow by 125.0% during the 3rd quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 35 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in ServiceNow during the 3rd quarter worth $35,000. 87.18% of the stock is owned by hedge funds and other 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.