ServiceNow (NYSE:NOW) Receives Buy Rating from Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of ServiceNow (NYSE:NOW) in a research note issued to investors on Tuesday morning, Benzinga reports. Stifel Nicolaus currently has a $820.00 target price on the information technology services provider’s stock.

Other analysts have also recently issued research reports about the stock. Morgan Stanley increased their price target on shares of ServiceNow from $814.00 to $830.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. Wolfe Research reiterated an outperform rating and set a $830.00 price target on shares of ServiceNow in a research note on Friday, May 10th. Wells Fargo & Company increased their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock an overweight rating in a research note on Tuesday, April 16th. KeyCorp decreased their price target on shares of ServiceNow from $950.00 to $920.00 and set an overweight rating for the company in a research note on Tuesday. Finally, Guggenheim restated a neutral rating on shares of ServiceNow in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $813.28.

ServiceNow Trading Up 2.6 %

NYSE NOW opened at $806.47 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s fifty day moving average price is $731.14 and its 200 day moving average price is $743.28. The company has a market capitalization of $165.33 billion, a price-to-earnings ratio of 84.83, a price-to-earnings-growth ratio of 4.93 and a beta of 0.99. ServiceNow has a 12 month low of $527.24 and a 12 month high of $815.32.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. On average, sell-side analysts expect that ServiceNow will post 6.5 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 602 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total transaction of $463,389.50. Following the completion of the transaction, the insider now directly owns 3,619 shares in the company, valued at approximately $2,785,725.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the completion of the sale, the chief financial officer now directly owns 13,290 shares in the company, valued at $9,819,715.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 602 shares of ServiceNow stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $769.75, for a total transaction of $463,389.50. Following the sale, the insider now owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The disclosure for this sale can be found here. In the last three months, insiders sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after buying an additional 331,797 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of ServiceNow by 2.2% during the fourth 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 in the last quarter. Norges Bank purchased a new stake in ServiceNow in the fourth quarter valued at approximately $1,648,259,000. Massachusetts Financial Services Co. MA grew its holdings in ServiceNow by 3.7% in the fourth 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 purchasing an additional 81,028 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in ServiceNow by 18.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after purchasing an additional 271,153 shares during the period. 87.18% of the stock is currently owned by hedge funds and other 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.