ServiceNow (NYSE:NOW) Earns Buy Rating from Analysts at DA Davidson

DA Davidson started coverage on shares of ServiceNow (NYSE:NOW - Get Free Report) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $1,150.00 price target on the information technology services provider's stock. DA Davidson's target price points to a potential upside of 15.48% from the company's current price.

NOW has been the subject of several other reports. Royal Bank Of Canada upped their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Needham & Company LLC restated a "buy" rating and set a $1,050.00 price target on shares of ServiceNow in a report on Tuesday, May 6th. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. Piper Sandler lowered their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,065.32.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $995.87 on Wednesday. The company has a market capitalization of $206.13 billion, a P/E ratio of 135.31, a P/E/G ratio of 4.52 and a beta of 0.95. ServiceNow has a 1-year low of $678.66 and a 1-year high of $1,198.09. The firm's 50 day simple moving average is $971.58 and its two-hundred day simple moving average is $968.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. ServiceNow's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.41 EPS. Research analysts expect that ServiceNow will post 8.93 EPS for the current fiscal year.

Insider Activity

In related news, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer now directly owns 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the sale, the insider now owns 3,000 shares of the company's stock, valued at approximately $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,716 shares of company stock worth $6,611,245. Corporate insiders own 0.38% of the company's stock.

Institutional Trading of ServiceNow

Several large investors have recently bought and sold shares of NOW. Brighton Jones LLC increased its position in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after acquiring an additional 30 shares during the period. IFP Advisors Inc raised its stake in shares of ServiceNow by 11.8% in the fourth quarter. IFP Advisors Inc now owns 1,949 shares of the information technology services provider's stock worth $2,065,000 after purchasing an additional 206 shares during the last quarter. Rothschild Investment LLC lifted its holdings in shares of ServiceNow by 7.1% during the fourth quarter. Rothschild Investment LLC now owns 348 shares of the information technology services provider's stock worth $369,000 after purchasing an additional 23 shares during the period. Pine Valley Investments Ltd Liability Co purchased a new stake in ServiceNow in the fourth quarter valued at approximately $219,000. Finally, FFT Wealth Management LLC increased its stake in shares of ServiceNow by 10.1% in the fourth quarter. FFT Wealth Management LLC now owns 1,109 shares of the information technology services provider's stock worth $1,176,000 after acquiring an additional 102 shares during the period. 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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