ServiceNow (NOW) PT Raised to $170.00

ServiceNow (NYSE:NOW) had its target price hoisted by equities research analysts at Argus to $170.00 in a note issued to investors on Tuesday, The Fly reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Argus’ target price points to a potential upside of 15.46% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. UBS Group raised their price target on shares of ServiceNow from $128.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research lowered shares of ServiceNow from a “hold” rating to a “sell” rating in a report on Monday, October 30th. JPMorgan Chase & Co. lowered shares of ServiceNow from an “overweight” rating to a “neutral” rating and set a $138.00 price objective on the stock. in a report on Tuesday, December 12th. Cowen reiterated a “buy” rating and set a $160.00 price objective on shares of ServiceNow in a report on Monday, December 11th. Finally, Mizuho reiterated a “buy” rating on shares of ServiceNow in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $148.97.

Shares of ServiceNow (NOW) opened at $147.24 on Tuesday. ServiceNow has a 12 month low of $83.42 and a 12 month high of $157.00. The stock has a market cap of $25,069.13, a PE ratio of -169.24, a price-to-earnings-growth ratio of 30.87 and a beta of 1.26. 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 released its quarterly earnings results on Wednesday, January 31st. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. ServiceNow had a negative net margin of 7.71% and a negative return on equity of 24.97%. The company had revenue of $546.37 million for the quarter, compared to analysts’ expectations of $532.74 million. During the same period last year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 41.7% compared to the same quarter last year. sell-side analysts predict that ServiceNow will post 0.1 earnings per share for the current fiscal year.

In other ServiceNow news, Director Frederic B. Luddy sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $125.34, for a total value of $6,267,000.00. Following the completion of the sale, the director now owns 400 shares of the company’s stock, valued at $50,136. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $146.27, for a total transaction of $14,627,000.00. Following the completion of the sale, the director now directly owns 201,776 shares of the company’s stock, valued at approximately $29,513,775.52. The disclosure for this sale can be found here. Insiders sold 516,671 shares of company stock worth $68,704,163 in the last 90 days. 3.30% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of NOW. American Century Companies Inc. grew its position in ServiceNow by 162.5% in the fourth quarter. American Century Companies Inc. now owns 1,771,319 shares of the information technology services provider’s stock valued at $230,962,000 after acquiring an additional 1,096,491 shares in the last quarter. Ardevora Asset Management LLP acquired a new stake in ServiceNow in the third quarter valued at approximately $39,255,000. Victory Capital Management Inc. grew its position in ServiceNow by 203.8% in the third quarter. Victory Capital Management Inc. now owns 493,243 shares of the information technology services provider’s stock valued at $57,971,000 after acquiring an additional 330,883 shares in the last quarter. Carillon Tower Advisers Inc. acquired a new stake in ServiceNow in the fourth quarter valued at approximately $27,401,000. Finally, Tremblant Capital Group grew its position in ServiceNow by 38.9% in the third quarter. Tremblant Capital Group now owns 435,776 shares of the information technology services provider’s stock valued at $51,217,000 after acquiring an additional 121,970 shares in 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.

The Fly

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