ServiceNow (NYSE:NOW) Stock Rating Reaffirmed by Needham & Company LLC

ServiceNow (NYSE:NOW - Get Free Report)'s stock had its "buy" rating restated by Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They presently have a $900.00 price objective on the information technology services provider's stock. Needham & Company LLC's price objective would suggest a potential upside of 20.86% from the company's current price.

NOW has been the topic of several other research reports. Citigroup boosted their target price on ServiceNow from $862.00 to $896.00 and gave the company a "buy" rating in a research report on Friday, January 26th. Stifel Nicolaus reissued a "buy" rating and set a $820.00 target price on shares of ServiceNow in a research report on Wednesday, March 20th. Mizuho upped 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. Jefferies Financial Group upped their price objective on ServiceNow from $885.00 to $900.00 and gave the company a "buy" rating in a research report on Wednesday, April 10th. Finally, UBS Group upped their price objective on ServiceNow from $885.00 to $920.00 and gave the company a "buy" rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and an average price target of $780.00.

ServiceNow Stock Performance

Shares of NOW stock traded up $8.83 during trading hours on Tuesday, reaching $744.64. 1,085,533 shares of the company traded hands, compared to its average volume of 1,182,619. ServiceNow has a 12-month low of $427.68 and a 12-month high of $815.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $152.93 billion, a P/E ratio of 88.54, a P/E/G ratio of 4.86 and a beta of 0.97. The firm has a 50-day moving average price of $768.63 and a 200 day moving average price of $700.17.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly 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 company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the previous year, the firm earned $0.88 EPS. The firm's revenue was up 25.6% compared to the same quarter last year. As a group, sell-side analysts predict that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 5,159 shares of the company's stock in a transaction dated 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 directly owns 5,453 shares of the company's stock, valued at approximately $4,064,229.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Paul John Smith sold 5,159 shares of the company's stock in a transaction dated 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 directly owns 5,453 shares of the company's stock, valued at approximately $4,064,229.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William R. Mcdermott sold 5,030 shares of the 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 completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock valued at $9,940,303 in the last ninety days. Corporate insiders own 0.25% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Sandbox Financial Partners LLC increased its holdings in shares of ServiceNow by 8.6% in the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider's stock valued at $590,000 after purchasing an additional 66 shares during the period. Raymond James & Associates grew its holdings in ServiceNow by 5.9% during the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider's stock worth $234,135,000 after acquiring an additional 18,442 shares during the period. Sequoia Financial Advisors LLC grew its holdings in ServiceNow by 15.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider's stock worth $18,175,000 after acquiring an additional 3,438 shares during the period. Fifth Third Bancorp grew its holdings in ServiceNow by 4.7% during the fourth quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider's stock worth $49,560,000 after acquiring an additional 3,154 shares during the period. Finally, F M Investments LLC acquired a new stake in ServiceNow during the third quarter worth about $1,624,000. 87.18% of the stock is 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.