ServiceNow's (NOW) "Outperform" Rating Reaffirmed at Wolfe Research

ServiceNow (NYSE:NOW - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Wolfe Research in a report issued on Friday, Benzinga reports. They presently have a $830.00 price target on the information technology services provider's stock. Wolfe Research's price target points to a potential upside of 13.73% from the company's previous close.

A number of other equities analysts have also commented on the stock. JMP Securities restated a "market outperform" rating and issued a $825.00 price objective on shares of ServiceNow in a research report on Tuesday. Piper Sandler lifted their price target on shares of ServiceNow from $750.00 to $830.00 and gave the stock an "overweight" rating in a research note on Thursday, January 25th. Oppenheimer upped their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the company an "outperform" rating in a research note on Thursday, January 18th. Robert W. Baird boosted their price target on shares of ServiceNow from $870.00 to $885.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Wells Fargo & Company raised their price objective on ServiceNow from $875.00 to $900.00 and gave the company an "overweight" rating in a research note on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price of $808.73.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $6.85 during midday trading on Friday, reaching $729.79. 817,807 shares of the company traded hands, compared to its average volume of 1,220,212. ServiceNow has a 12 month low of $446.65 and a 12 month high of $815.32. The firm's fifty day moving average price is $749.50 and its two-hundred day moving average price is $717.61. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $149.89 billion, a price-to-earnings ratio of 78.05, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98.

Insider Activity

In related news, CEO William R. Mcdermott sold 5,030 shares of the company's stock in a transaction on Tuesday, February 20th. The shares were 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 in the company, valued at $12,935,655.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the business's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares of the company's stock, valued at approximately $1,067,831.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now 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 11,559 shares of company stock worth $8,674,868 over the last ninety days. Corporate insiders own 0.25% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NOW. University of Texas Texas AM Investment Managment Co. acquired a new stake in ServiceNow during the fourth quarter valued at $29,000. AdvisorNet Financial Inc increased its stake in shares of ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. Sachetta LLC acquired a new stake in ServiceNow in the fourth quarter valued at approximately $35,000. Disciplined Equity Management Inc. purchased a new stake in shares of ServiceNow in the fourth quarter valued at approximately $35,000. Finally, PFG Private Wealth Management LLC purchased a new position in shares of ServiceNow during the 1st quarter valued at approximately $38,000. Hedge funds and other 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.

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