William Blair Reaffirms Outperform Rating for ServiceNow (NYSE:NOW)

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

NOW has been the topic of several other research reports. Stifel Nicolaus reissued a buy rating and set a $820.00 price target on shares of ServiceNow in a research report on Wednesday, March 20th. Royal Bank of Canada upped their target price on shares of ServiceNow from $840.00 to $850.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Barclays raised their target price on shares of ServiceNow from $765.00 to $870.00 and gave the company an overweight rating in a report on Tuesday, January 23rd. UBS Group reduced their target price on shares of ServiceNow from $920.00 to $875.00 and set a buy rating on the stock in a report on Thursday. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $900.00 target price on shares of ServiceNow in a report on Thursday. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of Moderate Buy and a consensus target price of $792.00.

ServiceNow Stock Up 1.0 %

Shares of NOW opened at $723.55 on Thursday. The stock has a market capitalization of $148.60 billion, a PE ratio of 77.39, a P/E/G ratio of 4.57 and a beta of 0.97. ServiceNow has a 1 year low of $427.68 and a 1 year high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. The company’s 50-day simple moving average is $759.21 and its 200-day simple moving average is $708.95.

ServiceNow (NYSE:NOW) last issued its quarterly 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. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The business’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share. Analysts forecast that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow 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 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. Insiders have sold 13,164 shares of company stock valued at $9,940,303 in the last ninety days. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Institutional investors have recently modified their holdings of the business. Impact Partnership Wealth LLC grew its position in 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 buying an additional 74 shares during the last quarter. Galvin Gaustad & Stein LLC grew its position in ServiceNow by 33.3% in the 3rd quarter. Galvin Gaustad & Stein LLC now owns 800 shares of the information technology services provider’s stock valued at $447,000 after buying an additional 200 shares during the last quarter. Oak Thistle LLC purchased a new position in ServiceNow in the 3rd quarter valued at $1,115,000. Asset Management One Co. Ltd. grew its position in ServiceNow by 4.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 99,412 shares of the information technology services provider’s stock valued at $55,567,000 after buying an additional 4,630 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in ServiceNow by 3.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 59,360 shares of the information technology services provider’s stock valued at $33,180,000 after buying an additional 1,904 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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.