ServiceNow, Inc. (NYSE:NOW) had its target price hoisted by analysts at Barclays PLC from $126.00 to $135.00 in a report released on Thursday, October 26th. The firm presently has an “overweight” rating on the information technology services provider’s stock. Barclays PLC’s price target suggests a potential upside of 7.16% from the stock’s previous close.
Several other research analysts also recently commented on NOW. Raymond James Financial, Inc. boosted their target price on ServiceNow from $110.00 to $126.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 27th. Canaccord Genuity reaffirmed a “buy” rating and issued a $130.00 price objective (up previously from $110.00) on shares of ServiceNow in a research note on Thursday, July 27th. Royal Bank Of Canada upped their price objective on ServiceNow from $110.00 to $126.00 and gave the company a “top pick” rating in a research note on Monday, July 24th. Northland Securities reaffirmed a “buy” rating and issued a $135.00 price objective on shares of ServiceNow in a research note on Thursday, October 19th. Finally, JMP Securities reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $130.50.
ServiceNow (NYSE NOW) traded up $0.43 on Thursday, reaching $125.98. 958,400 shares of the company traded hands, 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 debt-to-equity ratio of 2.10, a current ratio of 1.66 and a quick ratio of 1.66.
ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.06. The business had revenue of $498.20 million during the quarter, compared to analysts’ expectations of $491.62 million. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. ServiceNow’s revenue was up 39.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 earnings per share. analysts anticipate that ServiceNow will post -0.35 EPS for the current fiscal year.
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In other ServiceNow news, Director Frederic B. Luddy sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $110.17, for a total value of $11,017,000.00. Following the completion of the transaction, the director now owns 29,990 shares in the company, valued at approximately $3,303,998.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederic B. Luddy sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $120.82, for a total value of $6,041,000.00. Following the completion of the transaction, the director now owns 29,990 shares of the company’s stock, valued at approximately $3,623,391.80. The disclosure for this sale can be found here. In the last three months, insiders sold 1,022,500 shares of company stock valued at $119,687,175. 3.30% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Swiss National Bank boosted its position in shares of ServiceNow by 3.1% during the 2nd quarter. Swiss National Bank now owns 606,600 shares of the information technology services provider’s stock valued at $64,300,000 after acquiring an additional 18,200 shares during the last quarter. Allen Investment Management LLC bought a new stake in shares of ServiceNow during the 2nd quarter valued at about $45,372,000. Rockefeller Financial Services Inc. bought a new stake in shares of ServiceNow during the 3rd quarter valued at about $138,000. Utah Retirement Systems boosted its position in shares of ServiceNow by 6.3% during the 2nd quarter. Utah Retirement Systems now owns 30,600 shares of the information technology services provider’s stock valued at $3,243,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of ServiceNow by 29.0% during the 1st quarter. Teachers Advisors LLC now owns 698,964 shares of the information technology services provider’s stock valued at $61,138,000 after acquiring an additional 157,079 shares during the last quarter. Hedge funds and other institutional investors own 98.78% of the company’s stock.
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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