ServiceNow (NYSE:NOW) Given Buy Rating at Stifel Nicolaus

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

Several other research firms have also commented on NOW. KeyCorp dropped their price target on ServiceNow from $950.00 to $920.00 and set an overweight rating for the company in a research report on Tuesday. BMO Capital Markets dropped their price target on ServiceNow from $850.00 to $830.00 and set an outperform rating for the company in a research report on Thursday, April 25th. Robert W. Baird lifted their price target on ServiceNow from $870.00 to $885.00 and gave the stock an outperform rating in a research report on Tuesday, May 7th. UBS Group dropped their price target on ServiceNow from $920.00 to $875.00 and set a buy rating for the company in a research report on Thursday, April 25th. Finally, StockNews.com lowered ServiceNow from a buy rating to a hold rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, ServiceNow has an average rating of Moderate Buy and an average target price of $813.28.

ServiceNow Trading Up 0.7 %

Shares of NOW stock opened at $794.11 on Tuesday. ServiceNow has a 12-month low of $527.24 and a 12-month high of $815.32. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average price is $727.88 and its 200-day moving average price is $742.00. The stock has a market capitalization of $162.79 billion, a price-to-earnings ratio of 84.58, a price-to-earnings-growth ratio of 4.93 and a beta of 0.99.

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

Insider Buying and Selling

In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the transaction, the chief financial officer now directly owns 13,290 shares of the company’s stock, valued at $9,819,715.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 602 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the transaction, the insider now directly owns 3,619 shares in the company, valued at $2,785,725.25. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock valued at $3,997,012 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

A number of large investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of ServiceNow in the 4th quarter valued at $1,648,259,000. Swedbank AB purchased a new stake in ServiceNow in the first quarter valued at $897,908,000. International Assets Investment Management LLC boosted its holdings in ServiceNow by 69,354.6% in the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after purchasing an additional 820,465 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in ServiceNow in the first quarter valued at $403,034,000. Finally, Cerity Partners LLC boosted its holdings in ServiceNow by 1,073.7% in the fourth quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock valued at $287,020,000 after purchasing an additional 371,648 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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.