ServiceNow’s (NOW) “Outperform” Rating Reiterated at William Blair

William Blair restated their outperform rating on shares of ServiceNow (NYSE:NOW) in a research report report published on Friday,RTT News reports.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada reissued an “outperform” rating and set a $1,210.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. TD Cowen increased their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Finally, Guggenheim reissued a “sell” rating and set a $716.00 price target on shares of ServiceNow in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Price Performance

Shares of NYSE NOW opened at $850.54 on Friday. The firm has a market cap of $175.21 billion, a P/E ratio of 124.53, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow has a 1-year low of $637.99 and a 1-year high of $1,198.09. The business’s 50 day moving average is $1,017.44 and its 200-day moving average is $985.92.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities research analysts predict that ServiceNow will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 in the last three months. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NOW. Quarry LP bought a new position in shares of ServiceNow in the 4th quarter worth about $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $28,000. Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the 3rd quarter valued at about $30,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $32,000. Finally, FPC Investment Advisory Inc. grew its stake in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 29 shares during the period. 87.18% of the stock is owned by institutional investors.

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.