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

JMP Securities reaffirmed their market outperform rating on shares of ServiceNow (NYSE:NOWFree Report) in a research report released on Tuesday morning, Benzinga reports. The firm currently has a $825.00 price objective on the information technology services provider’s stock.

A number of other research analysts have also issued reports on the company. Truist Financial increased their target price on ServiceNow from $700.00 to $750.00 and gave the company a hold rating in a research report on Thursday, January 25th. William Blair reiterated an outperform rating on shares of ServiceNow in a research report on Thursday, April 25th. Morgan Stanley upped their price target on shares of ServiceNow from $814.00 to $830.00 and gave the stock an overweight rating in a research report on Thursday, April 25th. Needham & Company LLC reiterated a buy rating and issued a $900.00 price objective on shares of ServiceNow in a report on Tuesday. Finally, Stifel Nicolaus reiterated a buy rating and set a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $808.73.

Read Our Latest Research Report on NOW

ServiceNow Price Performance

Shares of ServiceNow stock traded up $6.85 on Tuesday, hitting $729.79. The company’s stock had a trading volume of 817,807 shares, compared to its average volume of 1,287,713. The company has a market capitalization of $149.88 billion, a price-to-earnings ratio of 78.05, a price-to-earnings-growth ratio of 4.56 and a beta of 0.98. The firm has a fifty day moving average price of $749.50 and a 200-day moving average price of $717.61. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. ServiceNow has a 1 year low of $446.65 and a 1 year high of $815.32.

Insider Activity

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s 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 of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was 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 owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,559 shares of company stock valued at $8,674,868. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Several hedge funds have recently bought and sold shares of NOW. Argonautica Private Wealth Management Inc. increased its stake in ServiceNow by 1.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after purchasing an additional 13 shares during the period. Wealth Management Partners LLC grew its stake in shares of ServiceNow by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock worth $375,000 after acquiring an additional 14 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in shares of ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 14 shares in the last quarter. Optas LLC boosted its holdings in ServiceNow by 1.7% in the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after purchasing an additional 14 shares during the period. Finally, Trust Co. of Vermont grew its stake in ServiceNow by 8.6% during the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after purchasing an additional 15 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

About ServiceNow

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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.

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