ServiceNow (NYSE:NOW) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of ServiceNow (NYSE:NOW) in a report released on Monday morning, Benzinga reports. Needham & Company LLC currently has a $900.00 target price on the information technology services provider’s stock.

Several other equities analysts have also commented on NOW. Wolfe Research reaffirmed an outperform rating and set a $830.00 target price on shares of ServiceNow in a report on Friday, May 10th. Wells Fargo & Company lifted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock an overweight rating in a report on Tuesday, April 16th. KeyCorp dropped their target price on ServiceNow from $950.00 to $920.00 and set an overweight rating for the company in a report on Tuesday, July 2nd. Guggenheim restated a neutral rating on shares of ServiceNow in a research report on Monday, April 15th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $820.00 price objective on shares of ServiceNow in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $812.60.

ServiceNow Stock Up 0.8 %

Shares of NYSE:NOW opened at $749.14 on Monday. The firm has a fifty day moving average of $736.92 and a 200 day moving average of $745.40. ServiceNow has a 52-week low of $527.24 and a 52-week high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $153.57 billion, a PE ratio of 80.12, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99.

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

Insider Buying and Selling at ServiceNow

In other news, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $2,521,422.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total value of $1,329,984.00. Following the sale, the chief financial officer now owns 13,290 shares in the company, valued at $9,819,715.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,530 shares of company stock valued at $3,997,012. 0.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC purchased a new position in ServiceNow in the first quarter worth about $25,000. Versant Capital Management Inc lifted its stake in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of ServiceNow in the fourth quarter worth approximately $29,000. EntryPoint Capital LLC grew its position in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares during the period. Finally, AdvisorNet Financial Inc increased its holdings in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

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.