ServiceNow (NYSE:NOW) Given “Outperform” Rating at William Blair

William Blair reissued their outperform rating on shares of ServiceNow (NYSE:NOW) in a report issued on Thursday morning, RTT News reports.

NOW has been the topic of several other reports. Stifel Nicolaus reissued a buy rating and issued a $820.00 price objective on shares of ServiceNow in a research report on Wednesday, March 20th. KeyCorp assumed coverage on shares of ServiceNow in a report on Thursday, March 21st. They set an overweight rating and a $1,000.00 price target for the company. BMO Capital Markets lowered their price objective on shares of ServiceNow from $850.00 to $830.00 and set an outperform rating for the company in a research note on Thursday. Guggenheim reaffirmed a neutral rating on shares of ServiceNow in a report on Monday, April 15th. Finally, Barclays boosted their price target on shares of ServiceNow from $765.00 to $870.00 and gave the stock an overweight rating in a report on Tuesday, January 23rd. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of Moderate Buy and a consensus target price of $782.85.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $723.50 on Thursday. The firm has a fifty day moving average price of $760.05 and a two-hundred day moving average price of $706.80. The company has a market cap of $148.59 billion, a PE ratio of 76.60, a price-to-earnings-growth ratio of 4.72 and a beta of 0.97. ServiceNow has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 20.34% and a return on equity of 14.00%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the company earned $0.88 EPS. ServiceNow’s revenue was up 25.6% on a year-over-year basis. Analysts expect that ServiceNow will post 6.16 EPS for the current year.

Insider Buying and Selling

In other news, insider Paul John Smith sold 1,180 shares of the stock in a transaction dated 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 directly owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other 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 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 at the SEC website. 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 sale, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Impact Partnership Wealth LLC boosted its holdings in ServiceNow by 672.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 85 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 74 shares during the period. Galvin Gaustad & Stein LLC boosted its position in shares of ServiceNow by 33.3% in the 3rd quarter. Galvin Gaustad & Stein LLC now owns 800 shares of the information technology services provider’s stock valued at $447,000 after purchasing an additional 200 shares during the period. Oak Thistle LLC purchased a new stake in ServiceNow in the 3rd quarter worth about $1,115,000. Asset Management One Co. Ltd. raised its stake in shares of ServiceNow by 4.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 99,412 shares of the information technology services provider’s stock worth $55,567,000 after purchasing an additional 4,630 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of ServiceNow by 3.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 59,360 shares of the information technology services provider’s stock valued at $33,180,000 after acquiring an additional 1,904 shares during the last quarter. 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.