JMP Securities Reiterates Market Outperform Rating for ServiceNow (NYSE:NOW)

ServiceNow (NYSE:NOW)‘s stock had its “market outperform” rating restated by analysts at JMP Securities in a research report issued on Tuesday, Benzinga reports. They currently have a $825.00 target price on the information technology services provider’s stock. JMP Securities’ price target points to a potential upside of 14.38% from the company’s previous close.

Several other brokerages also recently commented on NOW. BMO Capital Markets decreased their price objective on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. William Blair reissued an “outperform” rating on shares of ServiceNow in a report on Thursday, April 25th. Piper Sandler upped their price objective on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Wells Fargo & Company lifted their target price on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, Barclays upped their price target on ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $807.88.

ServiceNow Trading Up 1.1 %

ServiceNow stock opened at $721.28 on Tuesday. ServiceNow has a 12-month low of $435.07 and a 12-month high of $815.32. The firm has a market capitalization of $148.14 billion, a price-to-earnings ratio of 77.14, a P/E/G ratio of 4.50 and a beta of 0.98. The firm has a 50 day moving average of $751.22 and a 200 day moving average of $717.54. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was 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 Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 11,369 shares of company stock valued at $8,538,300 over the last ninety days. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after acquiring an additional 122,577 shares during the last quarter. FMR LLC grew its holdings in shares of ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares during the last quarter. Jennison Associates LLC increased its stake in ServiceNow by 2.2% in the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after buying an additional 53,719 shares during the period. Norges Bank bought a new stake in ServiceNow during the 4th quarter valued at about $1,648,259,000. Finally, Massachusetts Financial Services Co. MA boosted its position in ServiceNow by 3.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after buying an additional 81,028 shares during the period. 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.