ServiceNow’s (NOW) “Buy” Rating Reiterated at Needham & Company LLC

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

Other equities analysts have also issued reports about the company. The Goldman Sachs Group lifted their price objective on ServiceNow from $800.00 to $910.00 and gave the company a buy rating in a research note on Thursday, January 25th. BMO Capital Markets reduced their price objective on ServiceNow from $850.00 to $830.00 and set an outperform rating on the stock in a research note on Thursday. Barclays lifted their price objective on ServiceNow from $765.00 to $870.00 and gave the company an overweight rating in a research note on Tuesday, January 23rd. Mizuho lifted their price objective on ServiceNow from $750.00 to $820.00 and gave the company a buy rating in a research note on Thursday, January 25th. Finally, Piper Sandler lifted their price objective on ServiceNow from $750.00 to $830.00 and gave the company an overweight rating in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, ServiceNow has a consensus rating of Moderate Buy and an average target price of $807.28.

ServiceNow Stock Up 1.0 %

NOW opened at $723.55 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. The stock has a market capitalization of $148.60 billion, a price-to-earnings ratio of 77.39, a price-to-earnings-growth ratio of 4.57 and a beta of 0.97. The business has a 50-day moving average of $759.21 and a two-hundred day moving average of $710.01. ServiceNow has a 12 month low of $427.68 and a 12 month high of $815.32.

Insider Activity

In other news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William R. Mcdermott sold 5,030 shares of the business’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 sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction on 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 $1,067,831.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of ServiceNow by 0.7% in the third 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 in the last quarter. FMR LLC lifted its holdings in shares of ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after purchasing an additional 595,697 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of 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 valued at $1,781,195,000 after purchasing an additional 53,719 shares during the last quarter. Norges Bank purchased a new stake in shares of ServiceNow during the fourth quarter valued at $1,648,259,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 valued at $1,612,032,000 after purchasing an additional 81,028 shares during the last quarter. 87.18% of the stock is currently owned by 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.