ServiceNow (NYSE:NOW) Coverage Initiated by Analysts at Raymond James

Raymond James initiated coverage on shares of ServiceNow (NYSE:NOW) in a research note released on Tuesday, MarketBeat Ratings reports. The firm issued an outperform rating and a $1,200.00 price objective on the information technology services provider’s stock.

NOW has been the subject of a number of other reports. BMO Capital Markets increased their price target on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group increased their target price on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Monday, December 2nd. UBS Group boosted their price target on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Needham & Company LLC increased their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Piper Sandler boosted their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $1,048.00.

ServiceNow Stock Up 1.6 %

Shares of NYSE NOW opened at $1,105.56 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The company has a 50-day moving average price of $1,026.11 and a 200-day moving average price of $890.62. The stock has a market capitalization of $227.75 billion, a P/E ratio of 171.94, a P/E/G ratio of 6.43 and a beta of 0.99. ServiceNow has a 1 year low of $637.99 and a 1 year high of $1,157.90.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 EPS. On average, equities research analysts forecast that ServiceNow will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This trade represents a 7.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock valued at $20,861,626 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of ServiceNow

A number of large investors have recently modified their holdings of NOW. Truvestments Capital LLC purchased a new stake in ServiceNow in the third quarter valued at approximately $30,000. Ridgewood Investments LLC bought a new position in shares of ServiceNow in the 2nd quarter worth $32,000. DT Investment Partners LLC raised its position in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. American Capital Advisory LLC bought a new stake in shares of ServiceNow during the 2nd quarter worth $39,000. Finally, Semmax Financial Advisors Inc. purchased a new position in ServiceNow in the second quarter worth $39,000. Institutional investors 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.