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

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

A number of other equities analysts also recently commented on the company. JMP Securities lifted their price target on ServiceNow from $665.00 to $825.00 and gave the stock a market outperform rating in a research note on Monday, January 22nd. Piper Sandler lifted their target price on ServiceNow from $750.00 to $830.00 and gave the company an overweight rating in a research note on Thursday, January 25th. Guggenheim restated a neutral rating on shares of ServiceNow in a research note on Monday. Stifel Nicolaus restated a buy rating and issued a $820.00 target price on shares of ServiceNow in a research note on Wednesday, March 20th. Finally, Mizuho lifted their target price on ServiceNow from $750.00 to $820.00 and gave the company a buy rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $780.37.

ServiceNow Stock Down 0.7 %

NYSE:NOW opened at $731.47 on Tuesday. The company has a market capitalization of $150.23 billion, a price-to-earnings ratio of 86.98, a price-to-earnings-growth ratio of 4.71 and a beta of 0.97. ServiceNow has a one year low of $427.68 and a one year high of $815.32. The stock has a 50-day simple moving average of $766.17 and a 200 day simple moving average of $700.64. 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 (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping 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 11.85% and a net margin of 19.30%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the firm earned $0.88 earnings per share. Sell-side analysts predict that ServiceNow will post 6.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now owns 994 shares of the company’s stock, valued at $776,373.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other ServiceNow news, 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 of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock valued at $9,940,303 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Argonautica Private Wealth Management Inc. raised its stake in ServiceNow by 1.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after purchasing an additional 13 shares during the period. Wealth Management Partners LLC raised its stake in ServiceNow by 2.7% during the 4th quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after purchasing an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group raised its stake in ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares during the period. Optas LLC raised its stake in ServiceNow by 1.7% during the 1st 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 raised 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 valued at $106,000 after purchasing an additional 15 shares during the period. 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.