ServiceNow (NYSE:NOW)‘s stock had its “buy” rating restated by Cowen in a research note issued on Monday. They presently have a $160.00 price target on the information technology services provider’s stock. Cowen’s price target points to a potential upside of 29.99% from the stock’s current price.

Several other research firms have also recently issued reports on NOW. Mizuho reissued a “buy” rating on shares of ServiceNow in a research note on Monday, October 16th. J P Morgan Chase & Co cut ServiceNow from an “overweight” rating to a “neutral” rating and set a $138.00 price target for the company. in a research note on Tuesday. Canaccord Genuity reissued a “buy” rating and issued a $150.00 price target (up previously from $130.00) on shares of ServiceNow in a research note on Thursday, October 26th. Piper Jaffray Companies reissued a “buy” rating and issued a $150.00 price target on shares of ServiceNow in a research note on Monday, November 6th. Finally, Robert W. Baird reissued a “buy” rating and issued a $120.00 price target on shares of ServiceNow in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-eight have given a buy rating and three have issued a strong buy rating to the stock. ServiceNow currently has an average rating of “Buy” and an average target price of $132.17.

ServiceNow (NYSE:NOW) traded up $1.28 during trading hours on Monday, hitting $123.09. The stock had a trading volume of 2,546,900 shares, compared to its average volume of 1,591,584. ServiceNow has a 12 month low of $73.66 and a 12 month high of $130.05. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 2.10.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $498.20 million during the quarter, compared to analysts’ expectations of $491.62 million. During the same quarter in the prior year, the business posted $0.23 earnings per share. The company’s revenue for the quarter was up 39.3% compared to the same quarter last year. sell-side analysts predict that ServiceNow will post -0.35 earnings per share for the current year.

In related news, Director Frederic B. Luddy sold 165,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $116.03, for a total value of $19,144,950.00. Following the completion of the sale, the director now directly owns 29,990 shares of the company’s stock, valued at approximately $3,479,739.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frederic B. Luddy sold 82,500 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $116.13, for a total value of $9,580,725.00. Following the completion of the sale, the director now directly owns 29,990 shares of the company’s stock, valued at $3,482,738.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 907,674 shares of company stock valued at $109,676,725. 3.30% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of NOW. SeaBridge Investment Advisors LLC acquired a new position in ServiceNow in the 3rd quarter worth about $118,000. Rockefeller Financial Services Inc. acquired a new position in ServiceNow in the 3rd quarter worth about $138,000. Commonwealth Bank of Australia increased its position in ServiceNow by 5.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,518 shares of the information technology services provider’s stock worth $159,000 after purchasing an additional 83 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new position in ServiceNow in the 2nd quarter worth about $212,000. Finally, IFP Advisors Inc increased its position in ServiceNow by 14.5% in the 2nd quarter. IFP Advisors Inc now owns 2,030 shares of the information technology services provider’s stock worth $215,000 after purchasing an additional 257 shares during the last quarter.

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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.

Analyst Recommendations for ServiceNow (NYSE:NOW)

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