Shares of ServiceNow Inc (NYSE:NOW) have received a consensus recommendation of “Buy” from the thirty-two brokerages that are currently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, twenty-five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $298.82.
A number of equities research analysts have recently issued reports on NOW shares. BMO Capital Markets cut their price objective on shares of ServiceNow from $315.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Raymond James cut their price objective on shares of ServiceNow from $342.00 to $300.00 and set a “strong-buy” rating for the company in a research note on Thursday, October 24th. Credit Suisse Group upped their price objective on shares of ServiceNow from $300.00 to $340.00 and gave the company an “outperform” rating in a research note on Monday. Cfra raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, ValuEngine raised shares of ServiceNow from a “sell” rating to a “hold” rating in a research note on Friday, November 15th.
In related news, insider David Schneider sold 5,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $283.50, for a total transaction of $1,417,500.00. Following the completion of the sale, the insider now directly owns 46,845 shares in the company, valued at approximately $13,280,557.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William R. Mcdermott purchased 3,600 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average price of $278.93 per share, with a total value of $1,004,148.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,600 shares in the company, valued at $1,004,148. The disclosure for this purchase can be found here. Insiders have sold a total of 63,487 shares of company stock valued at $16,652,731 over the last quarter. 1.00% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Delta Asset Management LLC TN bought a new stake in ServiceNow during the 3rd quarter valued at $25,000. AdvisorNet Financial Inc bought a new stake in ServiceNow during the 3rd quarter valued at $31,000. North Star Investment Management Corp. bought a new stake in ServiceNow during the 3rd quarter valued at $32,000. Venturi Wealth Management LLC bought a new stake in ServiceNow during the 3rd quarter valued at $41,000. Finally, Usca Ria LLC bought a new stake in ServiceNow during the 3rd quarter valued at $46,000. Institutional investors own 91.43% of the company’s stock.
NOW stock traded down $2.35 during midday trading on Tuesday, reaching $301.50. The company had a trading volume of 1,498,222 shares, compared to its average volume of 1,485,102. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.05 and a quick ratio of 1.05. ServiceNow has a 1 year low of $182.46 and a 1 year high of $306.00. The company has a market capitalization of $56.04 billion, a P/E ratio of 1,507.50, a P/E/G ratio of 10.05 and a beta of 1.33. The firm has a 50-day moving average price of $283.00 and a 200-day moving average price of $270.24.
ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.81. ServiceNow had a net margin of 1.09% and a return on equity of 6.62%. The business had revenue of $885.80 million during the quarter, compared to analysts’ expectations of $885.53 million. During the same quarter in the previous year, the company earned $0.68 EPS. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. On average, equities analysts predict that ServiceNow will post 0.48 EPS for the current year.
ServiceNow Company Profile
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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