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

Raymond James assumed coverage on shares of ServiceNow (NYSE:NOW) in a report published on Tuesday, MarketBeat reports. The firm issued an outperform rating and a $1,200.00 target price on the information technology services provider’s stock.

NOW has been the subject of several other reports. JPMorgan Chase & Co. boosted their price objective on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Evercore ISI upped their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada lifted their price objective on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen increased their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Robert W. Baird lifted their price target on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,048.00.

ServiceNow Stock Performance

ServiceNow stock opened at $1,099.11 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow has a one year low of $637.99 and a one year high of $1,157.90. The stock’s 50 day moving average price is $1,037.04 and its 200 day moving average price is $896.39. The firm has a market capitalization of $226.42 billion, a PE ratio of 170.93, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the company earned $1.21 earnings per share. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, sell-side analysts expect that ServiceNow will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. 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 insiders.

Institutional Trading of ServiceNow

Several large investors have recently modified their holdings of the stock. Truvestments Capital LLC acquired a new stake in ServiceNow in the third quarter valued at about $30,000. Ridgewood Investments LLC acquired a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $32,000. DT Investment Partners LLC grew its holdings 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 purchasing an additional 17 shares during the last quarter. American Capital Advisory LLC acquired a new position in ServiceNow during the 2nd quarter worth approximately $39,000. Finally, Semmax Financial Advisors Inc. bought a new position in ServiceNow in the 2nd quarter valued at approximately $39,000. 87.18% of the stock is owned by institutional investors and hedge funds.

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.