ServiceNow’s (NOW) Buy Rating Reiterated at Needham & Company LLC

ServiceNow (NYSE:NOW)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They presently have a $900.00 price target on the information technology services provider’s stock. Needham & Company LLC’s price target suggests a potential upside of 22.36% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Mizuho boosted their price objective on ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Barclays boosted their price objective on ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Robert W. Baird boosted their price objective on ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Citigroup upped their price target on ServiceNow from $862.00 to $896.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, BMO Capital Markets upped their price target on ServiceNow from $630.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $773.52.

ServiceNow Price Performance

Shares of NYSE NOW opened at $735.53 on Tuesday. 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 market cap of $151.06 billion, a PE ratio of 87.46, a P/E/G ratio of 4.86 and a beta of 0.97. The business has a 50-day simple moving average of $769.28 and a two-hundred day simple moving average of $698.87. ServiceNow has a fifty-two week low of $427.68 and a fifty-two week high of $815.32.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue was up 25.6% compared to the same quarter last year. As a group, equities analysts expect that ServiceNow will post 6.16 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of ServiceNow 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 transaction, the insider now directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on 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 directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred 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 completion of the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is currently owned by insiders.

Institutional Trading of ServiceNow

Institutional investors have recently modified their holdings of the business. PFG Private Wealth Management LLC acquired a new position in ServiceNow during the third quarter worth $28,000. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow during the fourth quarter worth $29,000. First Capital Advisors Group LLC. acquired a new position in ServiceNow during the second quarter worth $29,000. High Net Worth Advisory Group LLC acquired a new position in ServiceNow during the first quarter worth $29,000. Finally, AdvisorNet Financial Inc raised its holdings in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. 87.18% of the stock is currently 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.