JMP Securities Reaffirms "Market Outperform" Rating for ServiceNow (NYSE:NOW)

ServiceNow (NYSE:NOW - Get Free Report)'s stock had its "market outperform" rating reaffirmed by stock analysts at JMP Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $825.00 target price on the information technology services provider's stock. JMP Securities' price objective would suggest a potential upside of 11.34% from the company's previous close.

A number of other research analysts have also commented on the company. UBS Group raised their price target on ServiceNow from $885.00 to $920.00 and gave the company a "buy" rating in a report on Monday, April 15th. Mizuho lifted their target price on ServiceNow from $750.00 to $820.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Stifel Nicolaus reaffirmed a "buy" rating and set a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Oppenheimer lifted their target price on ServiceNow from $750.00 to $800.00 and gave the stock an "outperform" rating in a report on Thursday, January 18th. Finally, Robert W. Baird lifted their target price on ServiceNow from $780.00 to $870.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $780.37.

ServiceNow Stock Performance

NYSE NOW traded up $19.00 during trading hours on Tuesday, hitting $740.95. The company had a trading volume of 1,056,076 shares, compared to its average volume of 1,178,383. ServiceNow has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $762.24 and a 200-day simple moving average of $706.46. The firm has a market cap of $152.18 billion, a P/E ratio of 88.10, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating analysts' consensus estimates of $2.77 by $0.34. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company's quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. Equities analysts predict that ServiceNow will post 6.16 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now owns 994 shares of the company's stock, valued at approximately $776,373.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO William R. Mcdermott sold 5,030 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company's stock, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul John Smith sold 1,795 shares of the business's stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares of the company's stock, valued at approximately $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 90 days. 0.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

Several large investors have recently made changes to their positions in the company. Canal Capital Management LLC grew its stake in shares of ServiceNow by 1.5% in the 1st quarter. Canal Capital Management LLC now owns 3,725 shares of the information technology services provider's stock valued at $2,840,000 after buying an additional 56 shares in the last quarter. Busey Bank lifted its holdings in ServiceNow by 4.9% in the 1st quarter. Busey Bank now owns 427 shares of the information technology services provider's stock worth $326,000 after purchasing an additional 20 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in ServiceNow by 3.5% in the 1st quarter. Global Retirement Partners LLC now owns 12,473 shares of the information technology services provider's stock worth $9,509,000 after purchasing an additional 424 shares during the last quarter. Cookson Peirce & Co. Inc. lifted its holdings in ServiceNow by 7.7% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 43,044 shares of the information technology services provider's stock worth $32,817,000 after purchasing an additional 3,087 shares during the last quarter. Finally, PFG Private Wealth Management LLC acquired a new stake in ServiceNow in the 1st quarter worth approximately $38,000. Institutional investors own 87.18% of the company's stock.

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.