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

ServiceNow (NYSE:NOW)‘s stock had its “outperform” rating restated by analysts at William Blair in a research report issued on Thursday, RTT News reports.

NOW has been the subject of several other reports. Royal Bank of Canada increased their price objective on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Robert W. Baird increased their price objective on ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. UBS Group reduced their price objective on ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research report on Thursday. Jefferies Financial Group increased their price objective on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $782.85.

ServiceNow Stock Up 0.9 %

Shares of ServiceNow stock opened at $722.94 on Thursday. The stock has a market capitalization of $148.48 billion, a P/E ratio of 77.32, a PEG ratio of 4.72 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average price of $759.21 and a two-hundred day moving average price of $707.90. ServiceNow has a 12-month low of $427.68 and a 12-month high of $815.32.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a return on equity of 14.00% and a net margin of 20.34%. The company’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. Equities analysts expect that ServiceNow will post 6.16 earnings per share for the current year.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were 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 directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the 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 sale, 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 sold a total of 13,164 shares of company stock valued at $9,940,303 over the last ninety days. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOW. Conning Inc. grew its position in shares of ServiceNow by 26.8% in the 1st quarter. Conning Inc. now owns 1,035 shares of the information technology services provider’s stock valued at $789,000 after purchasing an additional 219 shares during the period. Pinnacle Associates Ltd. raised its holdings in shares of ServiceNow by 0.9% during the first quarter. Pinnacle Associates Ltd. now owns 2,132 shares of the information technology services provider’s stock worth $1,625,000 after acquiring an additional 19 shares during the period. Sterling Investment Counsel LLC lifted its position in ServiceNow by 8.0% in the 1st quarter. Sterling Investment Counsel LLC now owns 1,462 shares of the information technology services provider’s stock valued at $1,115,000 after acquiring an additional 108 shares in the last quarter. Highview Capital Management LLC DE increased its holdings in ServiceNow by 4.8% during the 1st quarter. Highview Capital Management LLC DE now owns 1,664 shares of the information technology services provider’s stock worth $1,269,000 after purchasing an additional 76 shares in the last quarter. Finally, YHB Investment Advisors Inc. raised its stake in shares of ServiceNow by 7.1% in the 1st quarter. YHB Investment Advisors Inc. now owns 4,221 shares of the information technology services provider’s stock valued at $3,218,000 after purchasing an additional 278 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

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.