JMP Securities Reiterates “Market Outperform” Rating for ServiceNow (NYSE:NOW)

JMP Securities reiterated their market outperform rating on shares of ServiceNow (NYSE:NOW) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $825.00 target price on the information technology services provider’s stock.

Other research analysts also recently issued research reports about the stock. Mizuho upped their target price on shares of ServiceNow from $750.00 to $820.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Barclays upped their target price on shares of ServiceNow from $765.00 to $870.00 and gave the stock an overweight rating in a research note on Tuesday, January 23rd. Truist Financial upped their target price on shares of ServiceNow from $700.00 to $750.00 and gave the stock a hold rating in a research note on Thursday, January 25th. Oppenheimer boosted their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the company an outperform rating in a report on Thursday, January 18th. Finally, UBS Group boosted their price objective on shares of ServiceNow from $885.00 to $920.00 and gave the company a buy rating in a report on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $782.85.

ServiceNow Trading Up 0.9 %

Shares of NOW opened at $722.94 on Tuesday. The firm’s 50-day moving average price is $759.21 and its 200-day moving average price is $707.90. The firm has a market capitalization of $148.48 billion, a price-to-earnings ratio of 77.32, a PEG ratio of 4.72 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow has a 1-year low of $427.68 and a 1-year high of $815.32.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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. ServiceNow had a net margin of 20.34% and a return on equity of 14.00%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. ServiceNow’s quarterly revenue was up 25.6% on a year-over-year basis. Sell-side analysts anticipate that ServiceNow will post 6.16 EPS for the current year.

Insider Activity

In other news, insider Paul John Smith sold 5,159 shares of the 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 sale, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 completion of the transaction, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated 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 sale, 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. Over the last ninety days, insiders sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Hedge funds and other institutional investors have recently modified their holdings of the company. Summit Global Investments acquired a new position in shares of ServiceNow in the 3rd quarter valued at approximately $209,000. Capital Investment Advisors LLC acquired a new position in shares of ServiceNow in the 3rd quarter valued at approximately $459,000. Impact Partnership Wealth LLC raised its position in shares of ServiceNow by 672.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 85 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 74 shares in the last quarter. Park Place Capital Corp raised its position in shares of ServiceNow by 9.2% in the 3rd quarter. Park Place Capital Corp now owns 1,149 shares of the information technology services provider’s stock valued at $642,000 after purchasing an additional 97 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC raised its position in shares of ServiceNow by 3.4% in the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 2,795 shares of the information technology services provider’s stock valued at $1,562,000 after purchasing an additional 92 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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.