ServiceNow's (NOW) Market Outperform Rating Reaffirmed at JMP Securities

ServiceNow (NYSE:NOW - Get Free Report)'s stock had its "market outperform" rating restated by research analysts at JMP Securities in a note issued to investors on Tuesday,Benzinga reports. They currently have a $1,300.00 target price on the information technology services provider's stock. JMP Securities' price target indicates a potential upside of 35.40% from the stock's current price.

NOW has been the topic of several other research reports. Mizuho boosted their price target on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research report on Tuesday, July 8th. Robert W. Baird boosted their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Sanford C. Bernstein reissued an "outperform" rating and issued a $1,003.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,079.58.

ServiceNow Stock Performance

Shares of NOW stock traded up $0.19 during trading on Tuesday, hitting $960.10. The company's stock had a trading volume of 409,124 shares, compared to its average volume of 1,482,107. ServiceNow has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $1,006.53 and a 200-day moving average of $955.01. The company has a market cap of $198.72 billion, a PE ratio of 130.59, a P/E/G ratio of 4.43 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly 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 business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The company's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the business posted $3.41 earnings per share. As a group, research analysts anticipate that ServiceNow will post 8.93 earnings per share for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the sale, the chief executive officer owned 6,614 shares of the company's stock, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction that occurred on 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 transaction, the insider directly owned 3,000 shares in the company, valued at approximately $3,060,000. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,601 shares of company stock valued at $6,577,363. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ServiceNow

Hedge funds have recently made changes to their positions in the stock. Bogart Wealth LLC lifted its holdings in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new position in ServiceNow during the 1st quarter valued at approximately $26,000. Quarry LP bought a new stake in shares of ServiceNow in the 4th quarter worth $27,000. WASHINGTON TRUST Co increased its holdings in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares in the last quarter. Finally, Global X Japan Co. Ltd. bought a new stake in shares of ServiceNow in the second quarter worth $30,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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.

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