Needham & Company LLC Reiterates “Buy” Rating for ServiceNow (NYSE:NOW)

ServiceNow (NYSE:NOW)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports. They currently have a $900.00 price target on the information technology services provider’s stock. Needham & Company LLC’s price target indicates a potential upside of 24.49% from the company’s previous close.

NOW has been the topic of a number of other research reports. Jefferies Financial Group upped their price target on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Robert W. Baird upped their price target on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 price target on shares of ServiceNow in a research report on Wednesday, March 20th. The Goldman Sachs Group upped their price target on shares of ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company upped their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $782.85.

ServiceNow Stock Up 0.9 %

Shares of NYSE:NOW opened at $722.94 on Thursday. The company has a fifty day moving average of $759.21 and a 200-day moving average of $707.90. The company has a market capitalization of $148.48 billion, a PE ratio of 77.32, a price-to-earnings-growth ratio of 4.72 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. ServiceNow has a 52-week low of $427.68 and a 52-week high of $815.32.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a return on equity of 14.00% and a net margin of 20.34%. ServiceNow’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. On average, equities analysts predict that ServiceNow will post 6.16 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the firm’s 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 transaction, 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 legal filing with the SEC, which can be accessed through this link. In related news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 in the last quarter. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. PFG Private Wealth Management LLC bought a new stake in shares of ServiceNow during the 3rd quarter worth $28,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of ServiceNow during the 4th quarter worth $29,000. AdvisorNet Financial Inc lifted its holdings in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares during the last quarter. Steward Financial Group LLC lifted its holdings in shares of ServiceNow by 125.0% during the 3rd quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 35 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of ServiceNow during the 3rd quarter worth $35,000. 87.18% of the stock is 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.