ServiceNow (NYSE:NOW) Earns “Market Outperform” Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of ServiceNow (NYSE:NOW) in a report released on Monday,Benzinga reports. They currently have a $1,300.00 price objective on the information technology services provider’s stock.

Other equities analysts have also recently issued reports about the stock. TD Securities restated a “buy” rating and set a $1,100.00 target price on shares of ServiceNow in a report on Thursday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Bank of America upped their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Mizuho lifted their price target on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, June 12th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $1,003.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,115.20.

ServiceNow Trading Up 0.7%

Shares of NYSE:NOW opened at $911.07 on Monday. The stock has a market capitalization of $189.50 billion, a PE ratio of 114.74, a price-to-earnings-growth ratio of 4.08 and a beta of 0.93. The company’s 50-day moving average price is $988.58 and its two-hundred day moving average price is $947.68. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow has a one year low of $678.66 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.13 earnings per share. On average, equities analysts forecast that ServiceNow will post 8.93 EPS for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 145 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $147,900.00. Following the completion of the transaction, the insider owned 3,027 shares of the company’s stock, valued at $3,087,540. This represents a 4.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anita M. Sands sold 239 shares of the business’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the sale, the director directly owned 10,404 shares in the company, valued at approximately $10,924,200. The trade was a 2.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,250 shares of company stock worth $5,318,667 in the last ninety days. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Several large investors have recently modified their holdings of NOW. Haverford Trust Co increased its holdings in shares of ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock worth $936,000 after buying an additional 10 shares during the period. Ascent Group LLC increased its holdings in shares of ServiceNow by 0.5% in the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock worth $1,628,000 after buying an additional 10 shares during the period. Edgemoor Investment Advisors Inc. increased its holdings in shares of ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $366,000 after buying an additional 11 shares during the period. Integrated Investment Consultants LLC increased its holdings in shares of ServiceNow by 2.5% in the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock worth $358,000 after buying an additional 11 shares during the period. Finally, one8zero8 LLC increased its holdings in shares of ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock worth $283,000 after buying an additional 11 shares during the period. Institutional investors own 87.18% of the company’s stock.

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.