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

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

Other equities analysts have also recently issued research reports about the company. JMP Securities reiterated a market outperform rating and issued a $825.00 price target on shares of ServiceNow in a report on Tuesday. Oppenheimer raised their price target on ServiceNow from $750.00 to $800.00 and gave the company an outperform rating in a report on Thursday, January 18th. The Goldman Sachs Group raised their target price on ServiceNow from $800.00 to $910.00 and gave the stock a buy rating in a report on Thursday, January 25th. Needham & Company LLC restated a buy rating and set a $900.00 target price on shares of ServiceNow in a report on Thursday. Finally, Barclays raised their target price on ServiceNow from $765.00 to $870.00 and gave the stock an overweight rating in a report on Tuesday, January 23rd. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, ServiceNow currently has a consensus rating of Moderate Buy and an average target price of $782.85.

ServiceNow Stock Performance

ServiceNow stock opened at $723.50 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a fifty day moving average price of $760.05 and a two-hundred day moving average price of $706.80. ServiceNow has a 52-week low of $427.68 and a 52-week high of $815.32. The firm has a market capitalization of $148.59 billion, a P/E ratio of 76.60, a P/E/G ratio of 4.72 and a beta of 0.97.

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

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the company’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 transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last three months, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Several institutional investors and hedge funds have recently made changes to their positions in NOW. Sumitomo Life Insurance Co. lifted its holdings in ServiceNow by 38.3% during the first quarter. Sumitomo Life Insurance Co. now owns 14,606 shares of the information technology services provider’s stock worth $10,770,000 after acquiring an additional 4,043 shares during the period. Mesirow Financial Investment Management Inc. purchased a new position in ServiceNow during the first quarter worth about $281,000. Carr Financial Group Corp grew its position in ServiceNow by 14.2% during the first quarter. Carr Financial Group Corp now owns 733 shares of the information technology services provider’s stock worth $559,000 after buying an additional 91 shares in the last quarter. Petredis Investment Advisors LLC lifted its stake in ServiceNow by 0.6% during the first quarter. Petredis Investment Advisors LLC now owns 6,509 shares of the information technology services provider’s stock worth $4,962,000 after purchasing an additional 41 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its stake in ServiceNow by 1.3% during the first quarter. Checchi Capital Advisers LLC now owns 1,374 shares of the information technology services provider’s stock worth $1,048,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds 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.