ServiceNow (NYSE:NOW) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of ServiceNow (NYSE:NOW) in a research report report published on Thursday, Benzinga reports. The firm currently has a $900.00 price target on the information technology services provider’s stock.

Several other brokerages have also recently issued reports on NOW. Mizuho increased their target price on shares of ServiceNow from $750.00 to $820.00 and gave the stock a buy rating in a report on Thursday, January 25th. JMP Securities reissued a market outperform rating and set a $825.00 price target on shares of ServiceNow in a research report on Tuesday. Citigroup increased their price target on shares of ServiceNow from $896.00 to $906.00 and gave the company a buy rating in a research report on Thursday, April 18th. Barclays increased their price target on shares of ServiceNow from $765.00 to $870.00 and gave the company an overweight rating in a research report on Tuesday, January 23rd. Finally, Jefferies Financial Group increased their price target on shares of ServiceNow from $885.00 to $900.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of Moderate Buy and a consensus target price of $782.85.

ServiceNow Stock Down 4.0 %

Shares of ServiceNow stock opened at $716.25 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. ServiceNow has a 1 year low of $427.68 and a 1 year high of $815.32. The firm’s 50-day moving average is $760.05 and its two-hundred day moving average is $706.80. The stock has a market cap of $147.10 billion, a price-to-earnings ratio of 76.60, a PEG ratio of 4.72 and a beta of 0.97.

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, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 20.34% and a return on equity of 14.00%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the business earned $0.88 EPS. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, research analysts expect that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction that occurred 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 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 through the SEC website. In other news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction that occurred 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 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 through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’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 transaction of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock valued at $9,940,303 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Institutional investors have recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Managment Co. acquired a new stake in ServiceNow in the 4th quarter valued at $29,000. AdvisorNet Financial Inc lifted its holdings in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. Sachetta LLC acquired a new stake in ServiceNow during the 4th quarter worth $35,000. PFG Private Wealth Management LLC acquired a new stake in ServiceNow during the 3rd quarter worth $28,000. Finally, Disciplined Equity Management Inc. acquired a new stake in ServiceNow during the 4th quarter worth $35,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Company Profile

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.