ServiceNow’s (NOW) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of ServiceNow (NYSE:NOW) in a research report sent to investors on Tuesday, Benzinga reports. JMP Securities currently has a $825.00 price objective on the information technology services provider’s stock.

Several other equities research analysts also recently issued reports on the stock. Royal Bank of Canada raised 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. BMO Capital Markets raised their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Barclays raised their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the stock an overweight rating in a research report on Tuesday, January 23rd. Jefferies Financial Group raised their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Finally, Stifel Nicolaus restated a buy rating and set a $820.00 price objective on shares of ServiceNow in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of Moderate Buy and a consensus target price of $780.37.

ServiceNow Trading Up 2.6 %

Shares of NYSE:NOW opened at $740.95 on Tuesday. ServiceNow has a 52-week low of $427.68 and a 52-week high of $815.32. The company has a market capitalization of $152.18 billion, a P/E ratio of 88.10, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The company has a 50-day simple moving average of $762.24 and a 200 day simple moving average of $706.46. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (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 business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the business posted $0.88 EPS. ServiceNow’s revenue was up 25.6% on a year-over-year basis. Sell-side analysts forecast that ServiceNow will post 6.16 earnings per share for the current year.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow 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 transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now directly 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 13,164 shares of company stock valued at $9,940,303 over the last three months. 0.25% of the stock is owned by insiders.

Institutional Trading of ServiceNow

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Canal Capital Management LLC grew its stake in shares of ServiceNow by 1.5% during the first quarter. Canal Capital Management LLC now owns 3,725 shares of the information technology services provider’s stock worth $2,840,000 after buying an additional 56 shares during the last quarter. Busey Bank grew its stake in shares of ServiceNow by 4.9% in the first quarter. Busey Bank now owns 427 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 20 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of ServiceNow by 3.5% in the first quarter. Global Retirement Partners LLC now owns 12,473 shares of the information technology services provider’s stock worth $9,509,000 after purchasing an additional 424 shares during the last quarter. Cookson Peirce & Co. Inc. grew its stake in shares of ServiceNow by 7.7% in the first quarter. Cookson Peirce & Co. Inc. now owns 43,044 shares of the information technology services provider’s stock worth $32,817,000 after purchasing an additional 3,087 shares during the last quarter. Finally, PFG Private Wealth Management LLC bought a new stake in shares of ServiceNow in the first quarter worth $38,000. Institutional investors 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.