ServiceNow’s (NOW) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of ServiceNow (NYSE:NOW) in a report issued on Tuesday, Benzinga reports. The brokerage currently has a $825.00 target price on the information technology services provider’s stock.

Several other equities research analysts have also issued reports on NOW. Stifel Nicolaus reissued a buy rating and issued a $820.00 price objective on shares of ServiceNow in a research report on Wednesday, March 20th. Truist Financial increased their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the stock a hold rating in a research report on Thursday, January 25th. Barclays increased their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the stock an overweight rating in a research report on Tuesday, January 23rd. BMO Capital Markets increased their price objective on shares of ServiceNow from $630.00 to $850.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Finally, Oppenheimer increased their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the stock an outperform rating in a research report on Thursday, January 18th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $782.85.

ServiceNow Stock Performance

Shares of NOW stock opened at $716.25 on Tuesday. ServiceNow has a one year low of $427.68 and a one year 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 50 day moving average price of $760.05 and a 200 day moving average price of $706.80. The firm has a market capitalization of $147.10 billion, a price-to-earnings ratio of 76.60, a price-to-earnings-growth ratio of 4.72 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its quarterly 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. ServiceNow had a net margin of 20.34% and a return on equity of 14.00%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the business posted $0.88 earnings per share. ServiceNow’s revenue for the quarter was up 25.6% compared to the same quarter last year. Sell-side analysts anticipate 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 transaction, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 in the last ninety days. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NOW. Norges Bank bought a new position in shares of ServiceNow in the 4th quarter worth about $1,648,259,000. International Assets Investment Management LLC lifted its position in shares of ServiceNow by 69,354.6% in the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after buying an additional 820,465 shares during the last quarter. FMR LLC lifted its position in shares of ServiceNow by 17.3% in 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 buying an additional 595,697 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of ServiceNow in the 1st quarter worth about $403,034,000. Finally, Jennison Associates LLC lifted its position in shares of ServiceNow by 23.0% in the 3rd quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock worth $1,379,217,000 after buying an additional 461,614 shares during the last quarter. 87.18% of the stock is currently 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.