ServiceNow (NYSE:NOW) Receives Buy Rating from Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of ServiceNow (NYSE:NOW) in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a $820.00 price objective on the information technology services provider’s stock.

A number of other equities research analysts also recently weighed in on NOW. StockNews.com downgraded shares of ServiceNow from a buy rating to a hold rating in a report on Friday, April 26th. Morgan Stanley upped their price target on shares of ServiceNow from $814.00 to $830.00 and gave the company an overweight rating in a report on Thursday, April 25th. Robert W. Baird upped their price target on shares of ServiceNow from $870.00 to $885.00 and gave the company an outperform rating in a report on Tuesday, May 7th. 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 report on Wednesday, April 10th. Finally, William Blair reissued an outperform rating on shares of ServiceNow in a report on Tuesday, May 7th. 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.com, ServiceNow currently has an average rating of Moderate Buy and an average price target of $813.28.

ServiceNow Stock Performance

NOW stock opened at $806.47 on Tuesday. The company has a market capitalization of $165.33 billion, a P/E ratio of 84.83, a PEG ratio of 4.93 and a beta of 0.99. The company has a 50-day simple moving average of $731.14 and a 200 day simple moving average of $743.28. ServiceNow has a fifty-two week low of $527.24 and a fifty-two week high of $815.32. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.41. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. Sell-side analysts predict that ServiceNow will post 6.5 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Nicholas Tzitzon sold 2,000 shares of the 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 transaction, the insider now owns 3,649 shares in the company, valued at $2,521,422.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total value of $1,329,984.00. Following the transaction, the chief financial officer now owns 13,290 shares in the company, valued at $9,819,715.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Tzitzon sold 2,000 shares of the 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 disclosure for this sale can be found here. Insiders have sold 5,530 shares of company stock worth $3,997,012 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

A number of hedge funds have recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC bought a new stake in ServiceNow during the first quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in ServiceNow during the fourth quarter worth approximately $29,000. EntryPoint Capital LLC boosted 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 worth $30,000 after purchasing an additional 39 shares during the period. AdvisorNet Financial Inc boosted its position in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the period. Finally, Disciplined Equity Management Inc. bought a new stake in ServiceNow during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

About ServiceNow

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.