ServiceNow (NOW) Given “Buy” Rating at Mizuho

ServiceNow (NYSE:NOW)‘s stock had its “buy” rating reaffirmed by Mizuho in a research note issued on Monday. They presently have a $160.00 target price on the information technology services provider’s stock, up from their prior target price of $140.00. Mizuho’s target price indicates a potential upside of 12.46% from the stock’s previous close.

A number of other research analysts have also commented on the company. UBS Group raised their price target on ServiceNow from $128.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research lowered ServiceNow from a “hold” rating to a “sell” rating in a report on Monday, October 30th. JPMorgan Chase & Co. cut ServiceNow from an “overweight” rating to a “neutral” rating and set a $138.00 target price for the company. in a research note on Tuesday, December 12th. Cowen reaffirmed a “buy” rating and set a $160.00 target price on shares of ServiceNow in a research note on Monday, December 11th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $127.00 target price on shares of ServiceNow in a research note on Friday, October 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-eight have given a buy rating and three have issued a strong buy rating to the company’s stock. ServiceNow presently has a consensus rating of “Buy” and an average price target of $134.40.

ServiceNow (NYSE:NOW) opened at $142.27 on Monday. The company has a market capitalization of $24,290.00, a price-to-earnings ratio of -156.34 and a beta of 1.06. 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 has a fifty-two week low of $82.14 and a fifty-two week high of $142.52.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. The company had revenue of $498.20 million for the quarter, compared to analyst estimates of $491.62 million. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same period last year, the company earned $0.23 earnings per share. sell-side analysts predict that ServiceNow will post -0.35 EPS for the current fiscal year.

In other ServiceNow news, Director Frederic B. Luddy sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $135.37, for a total transaction of $13,537,000.00. Following the completion of the sale, the director now directly owns 240,000 shares in the company, valued at approximately $32,488,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederic B. Luddy sold 170,000 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $129.43, for a total value of $22,003,100.00. The disclosure for this sale can be found here. Insiders sold a total of 630,174 shares of company stock valued at $80,823,650 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue boosted its position in ServiceNow by 149.7% during the 4th quarter. State of Alaska Department of Revenue now owns 21,803 shares of the information technology services provider’s stock worth $2,841,000 after acquiring an additional 13,070 shares during the period. Schwab Charles Investment Management Inc. boosted its position in ServiceNow by 5.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 320,719 shares of the information technology services provider’s stock worth $41,819,000 after acquiring an additional 15,138 shares during the period. Bank of Montreal Can boosted its position in ServiceNow by 29.6% during the 4th quarter. Bank of Montreal Can now owns 160,344 shares of the information technology services provider’s stock worth $20,907,000 after acquiring an additional 36,632 shares during the period. Glynn Capital Management LLC boosted its position in ServiceNow by 23.1% during the 4th quarter. Glynn Capital Management LLC now owns 158,733 shares of the information technology services provider’s stock worth $20,697,000 after acquiring an additional 29,835 shares during the period. Finally, DnB Asset Management AS boosted its position in ServiceNow by 2.8% during the 4th quarter. DnB Asset Management AS now owns 18,442 shares of the information technology services provider’s stock worth $2,405,000 after acquiring an additional 500 shares during the period.

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About ServiceNow

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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