ServiceNow’s (NOW) “Buy” Rating Reaffirmed at Needham & Company LLC

ServiceNow (NYSE:NOW)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They presently have a $900.00 price target on the information technology services provider’s stock. Needham & Company LLC’s price objective indicates a potential upside of 24.08% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Citigroup boosted their target price on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a report on Thursday, April 18th. KeyCorp dropped their target price on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. BMO Capital Markets dropped their target price on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. William Blair restated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. Finally, Jefferies Financial Group lifted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $814.48.

ServiceNow Trading Down 0.4 %

NYSE:NOW opened at $725.36 on Tuesday. The firm has a market capitalization of $148.70 billion, a P/E ratio of 77.58, a P/E/G ratio of 4.57 and a beta of 0.96. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average of $726.49 and a 200 day moving average of $737.87. ServiceNow has a 52 week low of $527.24 and a 52 week high of $815.32.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. On average, research analysts predict that ServiceNow will post 6.5 earnings per share for the current year.

Insider Activity

In other ServiceNow news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the sale, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other ServiceNow news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the transaction, the insider now directly owns 3,112 shares in the company, valued at $2,263,606.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the sale, the insider now owns 3,649 shares in the company, valued at $2,521,422.51. The disclosure for this sale can be found here. Insiders sold a total of 5,530 shares of company stock valued at $3,997,012 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several institutional investors have recently made changes to their positions in NOW. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of ServiceNow during the fourth quarter worth approximately $29,000. EntryPoint Capital LLC raised its position in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares during the period. Finally, Disciplined Equity Management Inc. purchased a new position in shares of ServiceNow in the 4th quarter valued at $35,000. Hedge funds and other 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.