ServiceNow (NYSE:NOW) Stock Price Expected to Rise, JMP Securities Analyst Says

ServiceNow (NYSE:NOW) had its price objective lifted by equities researchers at JMP Securities from $1,000.00 to $1,300.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the information technology services provider’s stock. JMP Securities’ price target indicates a potential upside of 15.52% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Barclays upped their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Royal Bank of Canada increased their price objective on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. BMO Capital Markets raised their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Evercore ISI upped their target price on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Oppenheimer lifted their price target on ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,093.34.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,125.39 on Tuesday. ServiceNow has a 12-month low of $637.99 and a 12-month high of $1,157.90. The company has a market cap of $231.83 billion, a PE ratio of 175.02, a P/E/G ratio of 4.85 and a beta of 0.99. The stock has a 50 day simple moving average of $1,071.36 and a 200-day simple moving average of $937.32. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last announced its quarterly 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. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 EPS. On average, equities research analysts forecast that ServiceNow will post 7.06 EPS for the current year.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC bought a new position in shares of ServiceNow during the 3rd quarter valued at $30,000. DT Investment Partners LLC boosted its holdings in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares in the last quarter. Oakworth Capital Inc. increased its position in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after buying an additional 14 shares during the last quarter. Semmax Financial Advisors Inc. bought a new position in ServiceNow during the second quarter valued at about $39,000. Finally, Dunhill Financial LLC lifted its position in shares of ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after buying an additional 21 shares during the last quarter. 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.