ServiceNow, Inc. (NYSE:NOW)‘s stock had its “buy” rating reiterated by research analysts at Argus in a research report issued on Friday, October 27th, The Fly reports. They currently have a $150.00 price objective on the information technology services provider’s stock, up from their previous price objective of $125.00. Argus’ price objective suggests a potential upside of 19.07% from the company’s current price.
Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of ServiceNow from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Citigroup Inc. reaffirmed a “buy” rating and set a $135.00 price objective (up from $109.00) on shares of ServiceNow in a report on Saturday, July 22nd. Canaccord Genuity reaffirmed a “buy” rating and set a $130.00 price objective (up from $110.00) on shares of ServiceNow in a report on Thursday, July 27th. Guggenheim reissued a “buy” rating and set a $120.00 price target (up from $108.00) on shares of ServiceNow in a report on Thursday, July 27th. Finally, Robert W. Baird reissued a “buy” rating and set a $120.00 price target on shares of ServiceNow in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have given a buy rating and three have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $130.50.
ServiceNow (NOW) traded up $0.43 during trading hours on Friday, reaching $125.98. 958,400 shares of the company were exchanged, compared to its average volume of 1,603,368. ServiceNow has a 1-year low of $72.80 and a 1-year high of $129.56. The company has a current ratio of 1.66, a quick ratio of 1.73 and a debt-to-equity ratio of 2.10.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.06. The company had revenue of $498.20 million for the quarter, compared to analyst estimates of $491.62 million. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. The business’s quarterly revenue was up 39.3% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS. research analysts forecast that ServiceNow will post -0.35 EPS for the current year.
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In other news, insider Michael Scarpelli sold 75,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $107.68, for a total value of $8,076,000.00. Following the sale, the insider now owns 252,368 shares of the company’s stock, valued at $27,174,986.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO David Schneider sold 16,349 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 1,038,849 shares of company stock worth $121,440,605. Insiders own 3.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Cornerstone Advisors Inc. raised its position in ServiceNow by 29.2% during the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock worth $115,000 after acquiring an additional 245 shares in the last quarter. Barrett Asset Management LLC bought a new stake in ServiceNow during the second quarter worth $117,000. SeaBridge Investment Advisors LLC bought a new stake in ServiceNow during the third quarter worth $118,000. Global X Management Co. LLC raised its position in ServiceNow by 30.6% during the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock worth $123,000 after acquiring an additional 330 shares in the last quarter. Finally, Rockefeller Financial Services Inc. bought a new stake in ServiceNow during the third quarter worth $138,000.
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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