ServiceNow (NYSE:NOW) Rating Reiterated by JMP Securities

ServiceNow (NYSE:NOW)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $825.00 target price on the information technology services provider’s stock. JMP Securities’ price target indicates a potential upside of 14.38% from the company’s current price.

NOW has been the topic of several other reports. Stifel Nicolaus reiterated a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Oppenheimer increased their price target on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Needham & Company LLC reissued a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research note on Tuesday. Barclays lifted their price target on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Finally, KeyCorp reduced their target price on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $807.88.

ServiceNow Trading Up 1.1 %

NYSE:NOW opened at $721.28 on Tuesday. The firm has a market capitalization of $148.14 billion, a price-to-earnings ratio of 77.14, a PEG ratio of 4.50 and a beta of 0.98. ServiceNow has a 1-year low of $435.07 and a 1-year high of $815.32. The business’s 50-day moving average price is $751.22 and its two-hundred day moving average price is $717.54. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. In the last three months, insiders sold 11,369 shares of company stock worth $8,538,300. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in ServiceNow in the fourth quarter valued at about $1,648,259,000. International Assets Investment Management LLC grew its holdings in shares of ServiceNow by 69,354.6% during the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after purchasing an additional 820,465 shares during the last quarter. FMR LLC increased its position in ServiceNow by 17.3% during 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 purchasing an additional 595,697 shares in the last quarter. Global Assets Advisory LLC bought a new position in ServiceNow in the 1st quarter valued at approximately $403,034,000. Finally, Jennison Associates LLC boosted its position in ServiceNow by 23.0% in the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock valued at $1,379,217,000 after buying an additional 461,614 shares in 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.