ServiceNow (NYSE:NOW) had its price target lifted by research analysts at Barclays from $150.00 to $158.00 in a note issued to investors on Thursday. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Barclays’ target price points to a potential upside of 3.40% from the company’s previous close.
A number of other analysts have also recently issued reports on the company. Credit Suisse Group reiterated an “in-line” rating and set a $165.00 target price (up previously from $160.00) on shares of ServiceNow in a report on Thursday. UBS Group reiterated a “buy” rating and set a $180.00 target price (up previously from $168.00) on shares of ServiceNow in a report on Thursday. They noted that the move was a valuation call. Canaccord Genuity reiterated a “buy” rating and set a $175.00 target price (up previously from $150.00) on shares of ServiceNow in a report on Thursday. Stifel Nicolaus boosted their target price on ServiceNow from $120.00 to $150.00 and gave the stock a “hold” rating in a report on Thursday. Finally, BMO Capital Markets boosted their target price on ServiceNow from $133.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $147.50.
ServiceNow (NYSE:NOW) traded up $3.94 on Thursday, reaching $152.81. The company’s stock had a trading volume of 4,228,906 shares, compared to its average volume of 1,570,000. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 2.10. The stock has a market cap of $26,090.00, a PE ratio of -173.65 and a beta of 1.06. ServiceNow has a 52 week low of $83.42 and a 52 week high of $156.54.
In other ServiceNow news, CRO David Schneider sold 16,349 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $124.21, for a total value of $2,030,709.29. Following the transaction, the executive now directly owns 67,185 shares of the company’s stock, valued at approximately $8,345,048.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frederic B. Luddy sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $135.37, for a total value of $13,537,000.00. Following the completion of the transaction, the director now directly owns 240,000 shares in the company, valued at $32,488,800. The disclosure for this sale can be found here. Insiders have sold a total of 480,174 shares of company stock worth $61,929,650 over the last three months. 3.30% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors acquired a new position in shares of ServiceNow in the 2nd quarter valued at approximately $259,594,000. Westfield Capital Management Co. LP raised its position in shares of ServiceNow by 3.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,085,501 shares of the information technology services provider’s stock valued at $127,579,000 after purchasing an additional 38,301 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of ServiceNow in the 2nd quarter valued at approximately $93,763,000. Janus Henderson Group PLC raised its position in shares of ServiceNow by 2.6% in the 3rd quarter. Janus Henderson Group PLC now owns 882,934 shares of the information technology services provider’s stock valued at $103,776,000 after purchasing an additional 22,406 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of ServiceNow by 2.2% in the 3rd quarter. Legal & General Group Plc now owns 698,975 shares of the information technology services provider’s stock valued at $82,151,000 after purchasing an additional 14,823 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.
