ServiceNow, Inc. (NYSE:NOW) had its price target boosted by Bank of America Corporation from $136.00 to $140.00 in a research report report published on Wednesday, October 25th. They currently have a buy rating on the information technology services provider’s stock.
A number of other brokerages have also recently commented on NOW. Piper Jaffray Companies raised ServiceNow from a neutral rating to an overweight rating in a research note on Monday, October 23rd. OTR Global raised ServiceNow to a positive rating in a research note on Wednesday, October 18th. Deutsche Bank AG boosted their target price on ServiceNow from $115.00 to $135.00 and gave the company a buy rating in a research note on Wednesday, October 18th. BMO Capital Markets restated a buy rating and set a $127.00 price target on shares of ServiceNow in a research report on Friday, October 13th. Finally, Robert W. Baird set a $120.00 price target on ServiceNow and gave the company a buy rating in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-nine have given a buy rating and three have given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $130.50.
ServiceNow (NYSE:NOW) traded up $0.43 during trading hours on Wednesday, reaching $125.98. The company had a trading volume of 958,400 shares, compared to its average volume of 1,603,368. ServiceNow has a one year low of $72.80 and a one year high of $129.56. The company has a quick ratio of 1.73, a current ratio of 1.66 and a debt-to-equity ratio of 2.10.
ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.06. The company had revenue of $498.20 million during the quarter, compared to the consensus estimate of $491.62 million. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. ServiceNow’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS. equities analysts forecast that ServiceNow will post -0.35 EPS for the current fiscal year.
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In related news, CRO David Schneider sold 16,349 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $107.25, for a total transaction of $1,753,430.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 150,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $125.96, for a total value of $18,894,000.00. Following the transaction, the director now directly owns 216,535 shares of the company’s stock, valued at $27,274,748.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,038,849 shares of company stock valued at $121,440,605. 3.30% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of NOW. Prudential Financial Inc. lifted its stake in shares of ServiceNow by 80.0% in the 1st quarter. Prudential Financial Inc. now owns 9,900 shares of the information technology services provider’s stock valued at $866,000 after purchasing an additional 4,400 shares during the last quarter. Teachers Advisors LLC increased its holdings in ServiceNow by 29.0% during the 1st quarter. Teachers Advisors LLC now owns 698,964 shares of the information technology services provider’s stock worth $61,138,000 after purchasing an additional 157,079 shares during the period. Global X Management Co. LLC increased its holdings in ServiceNow by 30.6% during the 1st quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock worth $123,000 after purchasing an additional 330 shares during the period. Dimensional Fund Advisors LP increased its holdings in ServiceNow by 8.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 153,341 shares of the information technology services provider’s stock worth $13,412,000 after purchasing an additional 11,885 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of ServiceNow by 5.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 260,939 shares of the information technology services provider’s stock valued at $22,825,000 after acquiring an additional 13,646 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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