ServiceNow (NYSE:NOW) Stock Rating Reaffirmed by William Blair

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

Several other brokerages have also issued reports on NOW. Jefferies Financial Group boosted their target price on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. UBS Group cut their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Stifel Nicolaus reissued a “buy” rating and issued a $820.00 price target on shares of ServiceNow in a research report on Wednesday, March 20th. Citigroup upped their price target on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Wells Fargo & Company lifted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $807.88.

ServiceNow Trading Up 1.1 %

Shares of NOW 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 company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $751.22 and a 200-day moving average of $717.54. The firm has a market cap of $148.14 billion, a P/E ratio of 77.14, a PEG ratio of 4.50 and a beta of 0.98.

Insiders Place Their Bets

In related news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were 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 directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction dated 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 transaction, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders sold a total of 11,369 shares of company stock valued at $8,538,300 over the last 90 days. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sandbox Financial Partners LLC boosted its stake in shares of ServiceNow by 8.6% during the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after purchasing an additional 66 shares during the period. Federated Hermes Inc. raised its holdings in ServiceNow by 19.8% during the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock valued at $212,033,000 after buying an additional 49,631 shares during the last quarter. Raymond James & Associates boosted its position in ServiceNow by 5.9% during the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after buying an additional 18,442 shares during the period. Dohj LLC bought a new stake in ServiceNow in the 4th quarter worth $913,000. Finally, Sequoia Financial Advisors LLC increased its position in shares of ServiceNow by 15.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock valued at $18,175,000 after acquiring an additional 3,438 shares during the period. 87.18% of the stock is currently owned by institutional investors.

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.