ServiceNow (NYSE:NOW) Earns “Outperform” Rating from William Blair

William Blair reaffirmed their outperform rating on shares of ServiceNow (NYSE:NOW) in a report released on Tuesday, RTT News reports.

A number of other analysts have also issued reports on the stock. Piper Sandler lifted their price objective on shares of ServiceNow from $750.00 to $830.00 and gave the company an overweight rating in a research note on Thursday, January 25th. BMO Capital Markets dropped their price target on shares of ServiceNow from $850.00 to $830.00 and set an outperform rating on the stock in a research note on Thursday, April 25th. Guggenheim reiterated a neutral rating on shares of ServiceNow in a report on Monday, April 15th. JMP Securities restated a market outperform rating and set a $825.00 target price on shares of ServiceNow in a research note on Tuesday. Finally, Truist Financial lifted their target price on ServiceNow from $700.00 to $750.00 and gave the stock a hold rating in a research report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of Moderate Buy and a consensus price target of $807.88.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $713.53 on Tuesday. The business’s 50-day simple moving average is $751.22 and its 200 day simple moving average is $717.54. The company 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 has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. ServiceNow has a one year low of $429.05 and a one year high of $815.32.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s 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 transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold a total of 11,369 shares of company stock worth $8,538,300 over the last quarter. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of ServiceNow in the 4th quarter valued at $1,648,259,000. International Assets Investment Management LLC boosted its position in shares of ServiceNow by 69,354.6% in the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after acquiring an additional 820,465 shares during the period. FMR LLC increased its holdings in shares of ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares during the period. Global Assets Advisory LLC acquired a new position in ServiceNow in the 1st quarter valued at approximately $403,034,000. Finally, Jennison Associates LLC increased its position in shares of ServiceNow by 23.0% during the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock valued at $1,379,217,000 after purchasing an additional 461,614 shares during the period. 87.18% of the stock is 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.