ServiceNow (NOW) Price Target Increased to $150.00 by Analysts at Stifel Nicolaus

ServiceNow (NYSE:NOW) had its price target increased by equities research analysts at Stifel Nicolaus from $120.00 to $150.00 in a report issued on Thursday. The firm currently has a “hold” rating on the information technology services provider’s stock. Stifel Nicolaus’ price target suggests a potential upside of 0.76% from the company’s previous close.

Several other research analysts have also recently commented on NOW. Robert W. Baird set a $120.00 target price on shares of ServiceNow and gave the stock a “buy” rating in a report on Friday, October 6th. BMO Capital Markets restated a “buy” rating and set a $127.00 target price on shares of ServiceNow in a report on Friday, October 13th. Mizuho restated a “buy” rating on shares of ServiceNow in a report on Monday, October 16th. OTR Global upgraded shares of ServiceNow to a “positive” rating in a report on Wednesday, October 18th. Finally, Deutsche Bank increased their target price on shares of ServiceNow from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have issued a buy rating and three have issued a strong buy rating to the company. ServiceNow has an average rating of “Buy” and a consensus price target of $142.11.

ServiceNow (NYSE:NOW) opened at $148.87 on Thursday. ServiceNow has a 1-year low of $83.42 and a 1-year high of $150.85. The firm has a market cap of $25,316.09, a P/E ratio of -163.59 and a beta of 1.06. 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 announced its earnings results on Wednesday, January 31st. The information technology services provider reported $0.35 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. The business had revenue of $546.37 million during the quarter, compared to analysts’ expectations of $532.74 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The firm’s revenue was up 41.7% on a year-over-year basis. sell-side analysts expect that ServiceNow will post -0.35 EPS for the current fiscal year.

In other news, Director Frederic B. Luddy sold 100,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 240,000 shares of the company’s stock, valued at $32,488,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO David Schneider sold 16,349 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. In the last quarter, insiders sold 480,174 shares of company stock valued at $61,929,650. Corporate insiders own 3.30% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Beacon Capital Management bought a new position in shares of ServiceNow in the fourth quarter valued at about $0. Cullen Frost Bankers Inc. raised its position in shares of ServiceNow by 0.5% in the fourth quarter. Cullen Frost Bankers Inc. now owns 3,192 shares of the information technology services provider’s stock valued at $276,000 after purchasing an additional 17 shares during the period. Bessemer Group Inc. raised its position in shares of ServiceNow by 0.6% in the fourth quarter. Bessemer Group Inc. now owns 4,090 shares of the information technology services provider’s stock valued at $304,000 after purchasing an additional 23 shares during the period. CIBC Asset Management Inc raised its position in shares of ServiceNow by 0.8% in the second quarter. CIBC Asset Management Inc now owns 5,902 shares of the information technology services provider’s stock valued at $392,000 after purchasing an additional 45 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC increased its position in ServiceNow by 0.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 18,156 shares of the information technology services provider’s stock worth $1,572,000 after acquiring an additional 56 shares during the period.

COPYRIGHT VIOLATION NOTICE: This news story was first reported by American Banking and Market News and is owned by of American Banking and Market News. If you are reading this news story on another site, it was copied illegally and reposted in violation of US and international trademark and copyright law. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2018/02/01/servicenow-now-price-target-increased-to-150-00-by-analysts-at-stifel-nicolaus.html.

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)