ServiceNow (NYSE:NOW) had its target price lifted by Barclays from $158.00 to $180.00 in a research note released on Tuesday. They currently have an overweight rating on the information technology services provider’s stock.
Several other equities analysts have also recently issued reports on NOW. Piper Jaffray Companies upgraded ServiceNow from a neutral rating to an overweight rating in a research report on Monday, October 23rd. Bank of America boosted their price target on ServiceNow from $136.00 to $140.00 and gave the company a buy rating in a research report on Wednesday, October 25th. Mizuho reiterated a buy rating and set a $140.00 target price on shares of ServiceNow in a research report on Wednesday, October 25th. Stifel Nicolaus boosted their target price on ServiceNow from $110.00 to $120.00 and gave the stock a hold rating in a research report on Thursday, October 26th. Finally, KeyCorp reiterated an overweight rating and set a $150.00 target price (up previously from $125.00) on shares of ServiceNow in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. ServiceNow has an average rating of Buy and a consensus target price of $149.72.
ServiceNow (NYSE:NOW) opened at $156.76 on Tuesday. The stock has a market capitalization of $27,070.00, a PE ratio of -180.18, a P/E/G ratio of 35.05 and a beta of 1.26. ServiceNow has a 52-week low of $83.42 and a 52-week high of $158.13. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.66 and a quick ratio of 1.66.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 31st. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The firm had revenue of $546.37 million for the quarter, compared to analysts’ expectations of $532.74 million. ServiceNow had a negative return on equity of 24.97% and a negative net margin of 7.71%. The firm’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS. equities analysts expect that ServiceNow will post 0.1 earnings per share for the current fiscal year.
In related news, Director Frederic B. Luddy sold 170,000 shares of the company’s stock in a transaction that occurred 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 SEC, which is available at this link. Also, Director Susan L. Bostrom sold 19,673 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $142.24, for a total value of $2,798,287.52. Following the completion of the sale, the director now owns 7,079 shares in the company, valued at approximately $1,006,916.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 545,302 shares of company stock worth $73,917,711. Insiders own 3.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in NOW. American Century Companies Inc. grew its holdings in shares of ServiceNow by 162.5% in the 4th quarter. American Century Companies Inc. now owns 1,771,319 shares of the information technology services provider’s stock worth $230,962,000 after acquiring an additional 1,096,491 shares during the period. Sands Capital Management LLC lifted its stake in ServiceNow by 5.6% in the 4th quarter. Sands Capital Management LLC now owns 8,070,993 shares of the information technology services provider’s stock valued at $1,052,377,000 after buying an additional 426,311 shares in the last quarter. Ardevora Asset Management LLP purchased a new stake in ServiceNow in the 3rd quarter valued at approximately $39,255,000. Victory Capital Management Inc. lifted its stake in ServiceNow by 203.8% in the 3rd quarter. Victory Capital Management Inc. now owns 493,243 shares of the information technology services provider’s stock valued at $57,971,000 after buying an additional 330,883 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in ServiceNow by 34.7% in the 4th quarter. Two Sigma Advisers LP now owns 973,243 shares of the information technology services provider’s stock valued at $126,901,000 after buying an additional 250,748 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.
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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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