ServiceNow’s (NOW) Buy Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of ServiceNow (NYSE:NOW) in a report issued on Tuesday, Benzinga reports. The firm currently has a $820.00 price objective on the information technology services provider’s stock.

A number of other research firms have also issued reports on NOW. Wells Fargo & Company increased their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock an overweight rating in a research report on Tuesday, April 16th. StockNews.com lowered shares of ServiceNow from a buy rating to a hold rating in a research note on Friday, April 26th. Wolfe Research reaffirmed an outperform rating and set a $830.00 price target on shares of ServiceNow in a research note on Friday, May 10th. Morgan Stanley boosted their price target on ServiceNow from $814.00 to $830.00 and gave the company an overweight rating in a research note on Thursday, April 25th. Finally, William Blair reaffirmed an outperform rating on shares of ServiceNow in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of Moderate Buy and a consensus target price of $813.28.

ServiceNow Trading Down 1.0 %

NYSE NOW opened at $785.92 on Tuesday. The firm’s 50 day moving average price is $729.74 and its two-hundred day moving average price is $742.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. ServiceNow has a twelve month low of $527.24 and a twelve month high of $815.32. The stock has a market cap of $161.11 billion, a price-to-earnings ratio of 84.06, a PEG ratio of 4.98 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. Equities analysts anticipate that ServiceNow will post 6.5 EPS for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 602 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the sale, the insider now directly owns 3,619 shares in the company, valued at approximately $2,785,725.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, insider Paul John Smith sold 602 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the sale, the insider now owns 3,619 shares in the company, valued at approximately $2,785,725.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the sale, the insider now owns 3,649 shares in the company, valued at $2,521,422.51. The disclosure for this sale can be found here. Insiders sold a total of 5,530 shares of company stock worth $3,997,012 in the last ninety days. 0.25% of the stock is currently owned by insiders.

Institutional Trading of ServiceNow

Several institutional investors have recently made changes to their positions in NOW. Advisors Asset Management Inc. raised its holdings in shares of ServiceNow by 97.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,315 shares of the information technology services provider’s stock worth $1,853,000 after buying an additional 1,633 shares in the last quarter. AXQ Capital LP bought a new position in shares of ServiceNow during the third quarter valued at $224,000. Evergreen Capital Management LLC boosted its stake in shares of ServiceNow by 0.7% in the 3rd quarter. Evergreen Capital Management LLC now owns 2,512 shares of the information technology services provider’s stock valued at $1,404,000 after purchasing an additional 18 shares in the last quarter. JT Stratford LLC grew its holdings in shares of ServiceNow by 681.8% in the 3rd quarter. JT Stratford LLC now owns 3,526 shares of the information technology services provider’s stock worth $1,971,000 after purchasing an additional 3,075 shares during the last quarter. Finally, Scotia Capital Inc. increased its position in shares of ServiceNow by 0.4% during the 3rd quarter. Scotia Capital Inc. now owns 22,599 shares of the information technology services provider’s stock worth $12,632,000 after purchasing an additional 101 shares in the last quarter. 87.18% of the stock is currently 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.