Barclays reiterated their buy rating on shares of ServiceNow (NYSE:NOW) in a research report sent to investors on Monday morning. Barclays currently has a $150.00 price target on the information technology services provider’s stock.
A number of other analysts also recently weighed in on the company. Cowen restated a buy rating and issued a $160.00 price target on shares of ServiceNow in a research note on Monday, December 11th. JPMorgan Chase & Co. downgraded ServiceNow from an overweight rating to a neutral rating and set a $138.00 price target on the stock. in a research note on Tuesday, December 12th. UBS Group lifted their price target on ServiceNow from $128.00 to $168.00 and gave the company a buy rating in a research note on Thursday, November 9th. Piper Jaffray Companies restated a buy rating and issued a $150.00 price target on shares of ServiceNow in a research note on Monday, November 6th. Finally, Zacks Investment Research downgraded ServiceNow from a hold rating to a sell rating in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-eight have issued a buy rating and three have given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $133.73.
ServiceNow (NYSE NOW) traded up $1.60 during trading on Monday, hitting $139.79. The company had a trading volume of 3,143,100 shares, compared to its average volume of 1,581,360. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.66 and a current ratio of 1.66. ServiceNow has a 12-month low of $81.29 and a 12-month high of $141.66. The stock has a market capitalization of $23,860.00, a P/E ratio of -153.62 and a beta of 1.06.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.06. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The firm had revenue of $498.20 million for the quarter, compared to the consensus estimate of $491.62 million. During the same period in the previous year, the business earned $0.23 earnings per share. The company’s revenue for the quarter was up 39.3% compared to the same quarter last year. research analysts expect that ServiceNow will post -0.35 EPS for the current fiscal year.
In other news, Director Frederic B. Luddy sold 170,000 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $129.43, for a total value of $22,003,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederic B. Luddy sold 100,000 shares of the business’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $135.37, for a total value of $13,537,000.00. Following the completion of the transaction, the director now directly owns 240,000 shares of the company’s stock, valued at $32,488,800. The disclosure for this sale can be found here. Over the last three months, insiders sold 630,174 shares of company stock valued at $80,823,650. Insiders own 3.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Bank of Australia increased its stake in ServiceNow by 5.8% in the second quarter. Commonwealth Bank of Australia now owns 1,518 shares of the information technology services provider’s stock valued at $159,000 after purchasing an additional 83 shares during the last quarter. Comerica Bank increased its stake in ServiceNow by 2.6% in the second quarter. Comerica Bank now owns 7,959 shares of the information technology services provider’s stock valued at $859,000 after purchasing an additional 205 shares during the last quarter. Toronto Dominion Bank increased its stake in ServiceNow by 12.3% in the second quarter. Toronto Dominion Bank now owns 2,040 shares of the information technology services provider’s stock valued at $216,000 after purchasing an additional 224 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in ServiceNow by 15.5% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,238 shares of the information technology services provider’s stock valued at $381,000 after purchasing an additional 434 shares during the last quarter. Finally, ETRADE Capital Management LLC increased its stake in ServiceNow by 16.7% in the third quarter. ETRADE Capital Management LLC now owns 3,206 shares of the information technology services provider’s stock valued at $377,000 after purchasing an additional 458 shares during the last quarter.
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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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