ServiceNow, Inc. (NOW) PT Raised to $126.00
ServiceNow, Inc. (NYSE:NOW) had its target price upped by analysts at Royal Bank Of Canada from $110.00 to $126.00 in a note issued to investors on Monday. The brokerage currently has a “top pick” rating on the information technology services provider’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 16.46% from the stock’s previous close.
Several other equities research analysts have also commented on the company. Canaccord Genuity restated a “buy” rating and issued a $105.00 price objective on shares of ServiceNow in a research report on Friday, April 21st. Zacks Investment Research raised ServiceNow from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research note on Friday, April 28th. BTIG Research reaffirmed a “buy” rating on shares of ServiceNow in a research note on Monday, April 24th. ValuEngine raised ServiceNow from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Sanford C. Bernstein started coverage on ServiceNow in a research note on Wednesday, May 24th. They set an “outperform” rating and a $120.00 target price for the company. Seven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $108.60.
Shares of ServiceNow (NOW) opened at 108.19 on Monday. The stock’s 50 day moving average is $106.69 and its 200-day moving average is $94.16. ServiceNow has a one year low of $70.76 and a one year high of $113.01. The stock’s market cap is $18.36 billion.
ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 26th. The information technology services provider reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.02. The firm had revenue of $416.80 million during the quarter, compared to analysts’ expectations of $409.26 million. ServiceNow had a negative net margin of 10.60% and a negative return on equity of 31.34%. ServiceNow’s quarterly revenue was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. On average, equities analysts forecast that ServiceNow will post $1.17 EPS for the current year.
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In other news, CEO John J. Donahoe acquired 5,618 shares of ServiceNow stock in a transaction that occurred on Monday, May 8th. The stock was purchased at an average cost of $97.93 per share, with a total value of $550,170.74. Following the completion of the acquisition, the chief executive officer now owns 5,618 shares in the company, valued at approximately $550,170.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederic B. Luddy sold 102,000 shares of ServiceNow stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $94.96, for a total value of $9,685,920.00. Following the transaction, the director now directly owns 6,232 shares of the company’s stock, valued at $591,790.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 581,673 shares of company stock valued at $61,196,746. 3.30% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Crow Point Partners LLC boosted its position in 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 worth $140,000 after buying an additional 107 shares during the period. Global X Management Co. LLC boosted its position in 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 worth $123,000 after buying an additional 330 shares during the period. Hartford Financial Management Inc. bought a new position in ServiceNow during the first quarter worth $125,000. TLP Group LLC bought a new position in ServiceNow during the first quarter worth $131,000. Finally, First Personal Financial Services boosted its position in 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 worth $142,000 after buying an additional 443 shares during the period. 97.71% of the stock is owned by institutional investors.
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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