OTR Global upgraded shares of ServiceNow, Inc. (NYSE:NOW) to a positive rating in a research report report published on Wednesday, October 18th, The Fly reports.
Several other brokerages also recently weighed in on NOW. BMO Capital Markets reiterated a buy rating and issued a $127.00 price target on shares of ServiceNow in a report on Friday, October 13th. Robert W. Baird set a $120.00 price target on ServiceNow and gave the stock a buy rating in a report on Friday, October 6th. Mizuho restated a buy rating on shares of ServiceNow in a report on Monday, October 16th. Moffett Nathanson assumed coverage on ServiceNow in a report on Wednesday, September 6th. They set a buy rating on the stock. Finally, Summit Redstone restated a buy rating and set a $135.00 price objective on shares of ServiceNow in a report on Monday, September 18th. Seven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and three have given a strong buy rating to the stock. ServiceNow presently has an average rating of Buy and an average price target of $126.57.
ServiceNow (NYSE NOW) traded down 2.02% during trading on Wednesday, reaching $123.59. 1,127,670 shares of the company’s stock were exchanged. The firm’s market cap is $21.10 billion. The firm’s 50-day moving average price is $118.60 and its 200-day moving average price is $107.46. ServiceNow has a 12 month low of $72.80 and a 12 month high of $129.56.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. ServiceNow had a negative return on equity of 23.64% and a negative net margin of 8.68%. The business had revenue of $498.20 million for the quarter, compared to the consensus estimate of $491.62 million. During the same period in the prior year, the business posted $0.23 earnings per share. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. On average, equities research analysts anticipate that ServiceNow will post $1.17 EPS for the current year.
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In related news, CRO David Schneider sold 16,349 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $107.25, for a total value of $1,753,430.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 252,211 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $109.19, for a total value of $27,538,919.09. Following the completion of the sale, the director now directly owns 356,287 shares in the company, valued at approximately $38,902,977.53. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,172,353 shares of company stock valued at $133,460,161. 3.30% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in ServiceNow by 5.6% in the second quarter. Vanguard Group Inc. now owns 13,985,997 shares of the information technology services provider’s stock valued at $1,482,516,000 after purchasing an additional 741,341 shares during the period. FMR LLC raised its position in ServiceNow by 3.2% in the second quarter. FMR LLC now owns 3,383,647 shares of the information technology services provider’s stock valued at $358,666,000 after purchasing an additional 103,578 shares during the period. Capital World Investors purchased a new stake in ServiceNow in the second quarter valued at approximately $259,594,000. Coatue Management LLC purchased a new stake in ServiceNow in the second quarter valued at approximately $184,317,000. Finally, Federated Investors Inc. PA raised its position in ServiceNow by 29.4% in the second quarter. Federated Investors Inc. PA now owns 1,723,732 shares of the information technology services provider’s stock valued at $182,716,000 after purchasing an additional 391,932 shares during the period.
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.
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