ServiceNow (NYSE:NOW) had its target price increased by equities research analysts at Barclays from $158.00 to $180.00 in a research report issued to clients and investors on Tuesday, February 20th. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Barclays’ price objective suggests a potential upside of 2.66% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. UBS Group boosted their target price on shares of ServiceNow from $128.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Piper Jaffray Companies reiterated a “buy” rating and issued a $150.00 target price on shares of ServiceNow in a report on Monday, November 6th. BMO Capital Markets restated a “buy” rating and set a $133.00 price target (up previously from $127.00) on shares of ServiceNow in a research note on Thursday, October 26th. Canaccord Genuity restated a “buy” rating and set a $150.00 price target (up previously from $130.00) on shares of ServiceNow in a research note on Thursday, October 26th. Finally, Mizuho restated a “buy” rating and set a $140.00 price target on shares of ServiceNow in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company. ServiceNow presently has a consensus rating of “Buy” and a consensus target price of $150.79.
ServiceNow (NYSE NOW) traded up $1.36 during mid-day trading on Tuesday, hitting $175.34. The company had a trading volume of 1,400,000 shares, compared to its average volume of 2,220,000. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market capitalization of $30,630.00, a P/E ratio of 269.75, a P/E/G ratio of 38.93 and a beta of 1.14. ServiceNow has a 12-month low of $83.42 and a 12-month high of $176.56.
ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 31st. The information technology services provider reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $546.37 million during the quarter, compared to the consensus estimate of $532.74 million. ServiceNow had a negative return on equity of 23.78% and a negative net margin of 7.71%. The firm’s quarterly revenue was up 41.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. analysts predict that ServiceNow will post 0.1 EPS for the current year.
In other ServiceNow news, insider Chirantan Jitendra Desai sold 19,742 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $156.39, for a total value of $3,087,451.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 170,000 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $129.43, for a total value of $22,003,100.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 660,308 shares of company stock valued at $95,837,498. 3.30% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sands Capital Management LLC grew its holdings in shares of ServiceNow by 5.6% during the 4th quarter. Sands Capital Management LLC now owns 8,070,993 shares of the information technology services provider’s stock worth $1,052,377,000 after purchasing an additional 426,311 shares during the period. American Century Companies Inc. grew its holdings in shares of ServiceNow by 162.5% during 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 purchasing an additional 1,096,491 shares during the period. Fred Alger Management Inc. grew its holdings in shares of ServiceNow by 1.0% during the 4th quarter. Fred Alger Management Inc. now owns 1,123,832 shares of the information technology services provider’s stock worth $146,536,000 after purchasing an additional 11,397 shares during the period. Westfield Capital Management Co. LP grew its holdings in shares of ServiceNow by 3.7% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,085,501 shares of the information technology services provider’s stock worth $127,579,000 after purchasing an additional 38,301 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in shares of ServiceNow by 34.7% during the 4th quarter. Two Sigma Advisers LP now owns 973,243 shares of the information technology services provider’s stock worth $126,901,000 after purchasing an additional 250,748 shares during the period.
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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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