ServiceNow, Inc. (NYSE:NOW) Given Consensus Rating of “Buy” by Brokerages
Shares of ServiceNow, Inc. (NYSE:NOW) have been assigned an average recommendation of “Buy” from the thirty-two research firms that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation, twenty-four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $108.27.
A number of equities analysts recently issued reports on NOW shares. Sanford C. Bernstein started coverage on ServiceNow in a report on Wednesday, May 24th. They issued an “outperform” rating and a $120.00 price objective for the company. Zacks Investment Research raised ServiceNow from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. BMO Capital Markets increased their price objective on ServiceNow from $104.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, April 27th. Royal Bank Of Canada reissued a “buy” rating and issued a $110.00 price objective on shares of ServiceNow in a report on Monday, May 29th. Finally, ValuEngine raised ServiceNow from a “sell” rating to a “hold” rating in a report on Friday, June 2nd.
In related news, Director Frank Slootman sold 150,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $104.09, for a total transaction of $15,613,500.00. Following the completion of the sale, the director now directly owns 356,287 shares in the company, valued at $37,085,913.83. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO David Schneider sold 2,243 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $97.04, for a total value of $217,660.72. Following the sale, the executive now owns 47,654 shares of the company’s stock, valued at $4,624,344.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 581,673 shares of company stock valued at $61,196,746. 3.30% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Crow Point Partners LLC raised its stake in shares of ServiceNow by 8.8% in the second quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock valued at $140,000 after buying an additional 107 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of ServiceNow by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 330 shares in the last quarter. Hartford Financial Management Inc. purchased a new stake in shares of ServiceNow during the first quarter valued at about $125,000. TLP Group LLC purchased a new stake in shares of ServiceNow during the first quarter valued at about $131,000. Finally, First Personal Financial Services raised its stake in shares of ServiceNow by 37.5% in the first quarter. First Personal Financial Services now owns 1,623 shares of the information technology services provider’s stock valued at $142,000 after buying an additional 443 shares in the last quarter. Institutional investors and hedge funds own 97.59% of the company’s stock.
Shares of ServiceNow (NYSE:NOW) traded down 1.74% on Friday, hitting $107.93. The company’s stock had a trading volume of 1,440,496 shares. The firm’s market cap is $18.32 billion. ServiceNow has a 1-year low of $70.76 and a 1-year high of $113.01. The company has a 50 day moving average of $106.69 and a 200 day moving average of $94.16.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 26th. The information technology services provider reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.02. ServiceNow had a negative return on equity of 31.34% and a negative net margin of 10.60%. The business had revenue of $416.80 million during the quarter, compared to the consensus estimate of $409.26 million. During the same period last year, the company earned $0.09 earnings per share. The business’s quarterly revenue was up 36.3% compared to the same quarter last year. Equities analysts forecast that ServiceNow will post $1.17 EPS for the current year.
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ServiceNow Company Profile
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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