ServiceNow, Inc. (NOW) Given Average Recommendation of “Buy” by Brokerages
Shares of ServiceNow, Inc. (NYSE:NOW) have earned an average recommendation of “Buy” from the thirty-five brokerages that are presently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation, twenty-three have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $119.09.
A number of equities research analysts have issued reports on NOW shares. Sanford C. Bernstein started coverage on shares of ServiceNow in a research note on Wednesday, May 24th. They set an “outperform” rating and a $120.00 target price for the company. Stephens began coverage on shares of ServiceNow in a report on Thursday, May 25th. They set an “overweight” rating and a $120.00 price target on the stock. Royal Bank Of Canada restated a “buy” rating and set a $110.00 price target on shares of ServiceNow in a report on Monday, May 29th. ValuEngine upgraded shares of ServiceNow from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Barclays PLC restated an “overweight” rating and set a $115.00 price target (up previously from $107.00) on shares of ServiceNow in a report on Monday, June 5th.
ServiceNow (NYSE:NOW) traded down 1.17% during mid-day trading on Friday, hitting $116.40. The stock had a trading volume of 1,246,884 shares. ServiceNow has a one year low of $71.34 and a one year high of $118.64. The firm’s 50-day moving average is $110.26 and its 200 day moving average is $99.93. The stock’s market cap is $19.87 billion.
ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $471.70 million during the quarter, compared to analyst estimates of $462.11 million. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 29.05%. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. Equities research analysts expect that ServiceNow will post $1.17 EPS for the current year.
In other news, Director Frank Slootman sold 150,000 shares of ServiceNow stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $104.09, for a total transaction of $15,613,500.00. Following the sale, the director now directly owns 356,287 shares in the company, valued at approximately $37,085,913.83. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO David Schneider sold 16,349 shares of ServiceNow stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $107.25, for a total transaction of $1,753,430.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 928,853 shares of company stock worth $101,627,586. 3.30% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Cornerstone Advisors Inc. boosted its position in ServiceNow by 29.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock valued at $115,000 after buying an additional 245 shares in the last quarter. Barrett Asset Management LLC acquired a new position in ServiceNow in the second quarter valued at about $117,000. 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 valued at $123,000 after buying an additional 330 shares in the last quarter. TLP Group LLC acquired a new position in ServiceNow in the first quarter valued at about $131,000. Finally, 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 valued at $140,000 after buying an additional 107 shares in the last quarter.
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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