ServiceNow (NYSE:NOW) Given “Buy” Rating at Needham & Company LLC

ServiceNow (NYSE:NOW)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They currently have a $900.00 target price on the information technology services provider’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 22.36% from the stock’s current price.

A number of other brokerages also recently weighed in on NOW. Jefferies Financial Group lifted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. UBS Group lifted their price target on shares of ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a research note on Monday. Robert W. Baird lifted their price target on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. JMP Securities boosted their price target on shares of ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a report on Monday, January 22nd. Finally, KeyCorp began coverage on shares of ServiceNow in a research note on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $773.52.

ServiceNow Price Performance

NOW stock opened at $735.53 on Tuesday. ServiceNow has a 52-week low of $427.68 and a 52-week high of $815.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The company has a fifty day moving average price of $769.28 and a 200-day moving average price of $698.87. The company has a market capitalization of $151.06 billion, a P/E ratio of 87.46, a PEG ratio of 4.86 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 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm earned $0.88 earnings per share. ServiceNow’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, equities analysts expect that ServiceNow will post 6.16 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the 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 completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. 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 quarter. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several institutional investors and hedge funds have recently modified their holdings of NOW. RB Capital Management LLC lifted its position in shares of ServiceNow by 25.2% in the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock worth $531,000 after purchasing an additional 192 shares during the period. Zions Bancorporation N.A. increased its stake in shares of ServiceNow by 17.9% in the 1st quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 133 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of ServiceNow by 728.0% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock worth $1,070,000 after acquiring an additional 1,689 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of ServiceNow by 9.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock worth $195,000 after acquiring an additional 29 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of ServiceNow by 0.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock worth $6,499,000 after acquiring an additional 86 shares in the last quarter. 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.