ServiceNow (NYSE:NOW) Stock Rating Reaffirmed by William Blair

ServiceNow (NYSE:NOW)‘s stock had its “outperform” rating reiterated by research analysts at William Blair in a report issued on Thursday, RTT News reports.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company boosted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Citigroup boosted their price objective on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Mizuho boosted their price objective on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Piper Sandler boosted their price objective on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, UBS Group reduced their price objective on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $777.96.

ServiceNow Stock Performance

Shares of NOW traded down $36.75 during trading hours on Thursday, hitting $709.54. The stock had a trading volume of 2,068,472 shares, compared to its average volume of 1,196,737. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. ServiceNow has a 12 month low of $427.68 and a 12 month high of $815.32. The firm has a market capitalization of $145.73 billion, a PE ratio of 84.08, a PEG ratio of 4.68 and a beta of 0.97. The stock has a fifty day moving average price of $761.32 and a 200 day moving average price of $706.74.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The business’s revenue was up 25.6% on a year-over-year basis. Analysts anticipate that ServiceNow will post 6.16 EPS for the current year.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul John Smith sold 1,795 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the sale, the insider now directly owns 994 shares in the company, valued at $776,373.64. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock valued at $9,940,303 in the last ninety days. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Hedge funds have recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow during the 4th quarter worth about $29,000. AdvisorNet Financial Inc lifted its stake in ServiceNow by 266.7% in the 4th 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 in the last quarter. Sachetta LLC purchased a new position in ServiceNow in the 4th quarter worth approximately $35,000. PFG Private Wealth Management LLC acquired a new stake in shares of ServiceNow during the 3rd quarter worth approximately $28,000. Finally, Disciplined Equity Management Inc. acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $35,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

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.