ServiceNow, Inc. (NOW) Earns Buy Rating from Argus

ServiceNow, Inc. (NYSE:NOW)‘s stock had its “buy” rating restated by Argus in a research report issued to clients and investors on Friday, October 27th, The Fly reports. They currently have a $150.00 target price on the information technology services provider’s stock, up from their previous target price of $125.00. Argus’ price objective suggests a potential upside of 19.07% from the stock’s current price.

Other analysts have also issued reports about the company. Moffett Nathanson started coverage on ServiceNow in a research report on Wednesday, September 6th. They issued a “buy” rating for the company. BidaskClub lowered ServiceNow from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Robert W. Baird restated a “buy” rating and set a $120.00 target price on shares of ServiceNow in a research report on Friday, September 1st. Summit Redstone restated a “buy” rating and set a $135.00 target price on shares of ServiceNow in a research report on Monday, September 18th. Finally, Deutsche Bank AG boosted their target price on ServiceNow from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-nine have assigned a buy rating and three have issued a strong buy rating to the stock. ServiceNow has an average rating of “Buy” and a consensus price target of $130.50.

Shares of ServiceNow (NYSE NOW) traded up $0.43 during mid-day trading on Friday, reaching $125.98. The company had a trading volume of 958,400 shares, compared to its average volume of 1,603,368. ServiceNow has a 52-week low of $72.80 and a 52-week 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 issued its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) 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 company had revenue of $498.20 million during the quarter, compared to analysts’ expectations of $491.62 million. During the same period last year, the business earned $0.23 earnings per share. The business’s revenue was up 39.3% on a year-over-year basis. sell-side analysts predict that ServiceNow will post -0.35 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “ServiceNow, Inc. (NOW) Earns Buy Rating from Argus” was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://ledgergazette.com/2017/11/13/servicenows-now-buy-rating-reaffirmed-at-argus.html.

In other news, Director Frederic B. Luddy sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 29,990 shares in the company, valued at $3,623,391.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $125.96, for a total value of $18,894,000.00. Following the completion of the transaction, the director now owns 216,535 shares in the company, valued at approximately $27,274,748.60. The disclosure for this sale can be found here. Insiders sold 1,022,500 shares of company stock valued at $119,687,175 in the last three months. Insiders own 3.30% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Cornerstone Advisors Inc. lifted its holdings 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 during the period. 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 lifted its holdings 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 during the period. Finally, Rockefeller Financial Services Inc. bought a new stake in ServiceNow during the third quarter worth $138,000. Institutional investors and hedge funds 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.

The Fly

Analyst Recommendations for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply