ServiceNow, Inc. (NOW) Given Average Rating of “Buy” by Analysts
ServiceNow, Inc. (NYSE:NOW) has been given an average rating of “Buy” by the forty ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twenty-nine have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $130.50.
A number of research analysts have recently issued reports on the company. Barclays PLC raised their price objective on ServiceNow from $120.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Canaccord Genuity reaffirmed a “buy” rating and set a $130.00 price objective (up from $110.00) on shares of ServiceNow in a research note on Thursday, July 27th. Raymond James Financial, Inc. raised their price objective on ServiceNow from $110.00 to $126.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 27th. JMP Securities reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Thursday, July 27th. Finally, Northland Securities reaffirmed a “buy” rating and set a $135.00 price objective on shares of ServiceNow in a research note on Thursday, October 19th.
In other news, CRO David Schneider sold 16,349 shares of ServiceNow stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $124.21, for a total transaction of $2,030,709.29. Following the completion of the transaction, the executive now directly owns 67,185 shares in the company, valued at $8,345,048.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 150,000 shares of ServiceNow stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $125.96, for a total transaction of $18,894,000.00. Following the transaction, the director now owns 216,535 shares of the company’s stock, valued at $27,274,748.60. The disclosure for this sale can be found here. Insiders have sold 962,639 shares of company stock valued at $114,959,897 over the last quarter. Company insiders own 3.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank lifted its holdings in shares of ServiceNow by 3.1% during the second quarter. Swiss National Bank now owns 606,600 shares of the information technology services provider’s stock valued at $64,300,000 after purchasing an additional 18,200 shares during the last quarter. Allen Investment Management LLC purchased a new position in shares of ServiceNow during the second quarter valued at approximately $45,372,000. Rockefeller Financial Services Inc. purchased a new position in shares of ServiceNow during the third quarter valued at approximately $138,000. Utah Retirement Systems increased its position in shares of ServiceNow by 6.3% during the second quarter. Utah Retirement Systems now owns 30,600 shares of the information technology services provider’s stock valued at $3,243,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its position in shares of ServiceNow by 29.2% during the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock valued at $115,000 after acquiring an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 96.14% of the company’s stock.
Shares of ServiceNow (NYSE NOW) traded down $0.62 during trading hours on Thursday, hitting $127.45. The stock had a trading volume of 530,200 shares, compared to its average volume of 1,582,147. ServiceNow has a 52-week low of $72.80 and a 52-week high of $130.05. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.10.
ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.06. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The firm had revenue of $498.20 million for the quarter, compared to analysts’ expectations of $491.62 million. During the same period last year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was up 39.3% compared to the same quarter last year. analysts anticipate that ServiceNow will post -0.35 EPS for the current year.
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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