William Blair Reiterates Outperform Rating for ServiceNow (NYSE:NOW)

William Blair reaffirmed their outperform rating on shares of ServiceNow (NYSE:NOW - Free Report) in a research note issued to investors on Thursday morning, RTT News reports.

NOW has been the topic of several other research reports. Citigroup increased their target price on ServiceNow from $896.00 to $906.00 and gave the stock a buy rating in a report on Thursday, April 18th. Guggenheim restated a neutral rating on shares of ServiceNow in a report on Monday, April 15th. Oppenheimer raised their price target on ServiceNow from $750.00 to $800.00 and gave the company an outperform rating in a report on Thursday, January 18th. Mizuho raised their price target on ServiceNow from $750.00 to $820.00 and gave the stock a buy rating in a research report on Thursday, January 25th. Finally, Piper Sandler raised their price target on ServiceNow from $750.00 to $830.00 and gave the stock an overweight rating in a research report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $782.85.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $30.04 during trading hours on Thursday, reaching $716.25. The stock had a trading volume of 3,366,891 shares, compared to its average volume of 1,213,611. The business's fifty day moving average is $761.32 and its two-hundred day moving average is $706.74. 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 $147.10 billion, a price-to-earnings ratio of 85.17, a PEG ratio of 4.68 and a beta of 0.97. ServiceNow has a twelve month low of $427.68 and a twelve month high of $815.32.

ServiceNow (NYSE:NOW - Get Free Report) last issued its 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. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the company posted $0.88 earnings per share. ServiceNow's revenue was up 25.6% on a year-over-year basis. As a group, research analysts expect that ServiceNow will post 6.16 EPS for the current year.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 5,030 shares of the business's stock in a transaction on 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 completion of the transaction, the chief executive officer now 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 Securities & Exchange Commission, which is available through this link. In related news, CEO William R. Mcdermott sold 5,030 shares of the business's stock in a transaction on 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 owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul John Smith sold 5,159 shares of the business's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,164 shares of company stock valued at $9,940,303. Corporate insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On ServiceNow

Institutional investors have recently made changes to their positions in the stock. Argonautica Private Wealth Management Inc. raised its stake in ServiceNow by 1.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider's stock worth $972,000 after buying an additional 13 shares during the period. Wealth Management Partners LLC raised its stake in ServiceNow by 2.7% during the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider's stock worth $375,000 after buying an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group raised its stake in ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider's stock worth $42,000 after buying an additional 14 shares during the period. Optas LLC raised its stake in ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider's stock worth $621,000 after buying an additional 14 shares during the period. Finally, Trust Co. of Vermont raised its stake in ServiceNow by 8.6% during the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider's stock worth $106,000 after buying an additional 15 shares during the period. Institutional investors own 87.18% of the company's stock.

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.