ServiceNow, Inc. (NOW) Lowered to Positive at OTR Global

OTR Global downgraded shares of ServiceNow, Inc. (NYSE:NOW) to a positive rating in a research report released on Friday morning, The Fly reports.

NOW has been the subject of several other research reports. Royal Bank Of Canada boosted their target price on ServiceNow from $108.00 to $110.00 and gave the company a top pick rating in a research report on Thursday, April 27th. Morgan Stanley boosted their target price on ServiceNow from $108.00 to $114.00 and gave the company an overweight rating in a research report on Friday, April 28th. Sanford C. Bernstein restated an outperform rating and set a $141.00 target price on shares of ServiceNow in a research report on Wednesday, June 28th. Canaccord Genuity restated a buy rating and set a $105.00 target price on shares of ServiceNow in a research report on Friday, April 21st. Finally, Stifel Nicolaus assumed coverage on ServiceNow in a research report on Tuesday, June 6th. They set a buy rating for the company. Seven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $105.43.

ServiceNow (NYSE:NOW) traded down 0.34% during midday trading on Friday, reaching $110.00. The company’s stock had a trading volume of 1,929,318 shares. The company’s 50-day moving average is $103.78 and its 200 day moving average is $90.97. The firm’s market cap is $18.67 billion. ServiceNow has a 12-month low of $69.63 and a 12-month high of $113.01.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 26th. The information technology services provider reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. ServiceNow had a negative net margin of 10.60% and a negative return on equity of 31.34%. The business had revenue of $416.80 million for the quarter, compared to analysts’ expectations of $409.26 million. During the same quarter last year, the firm earned $0.09 EPS. The firm’s quarterly revenue was up 36.3% on a year-over-year basis. Equities analysts forecast that ServiceNow will post $1.17 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This piece was originally reported by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this piece can be viewed at https://www.com-unik.info/2017/07/17/servicenow-inc-now-lowered-to-positive-at-otr-global.html.

In other news, Director Frederic B. Luddy sold 102,000 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $94.96, for a total transaction of $9,685,920.00. Following the transaction, the director now directly owns 6,232 shares of the company’s stock, valued at $591,790.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John J. Donahoe purchased 5,618 shares of ServiceNow stock in a transaction dated Monday, May 8th. The shares were acquired at an average cost of $97.93 per share, for a total transaction of $550,170.74. Following the completion of the transaction, the chief executive officer now owns 5,618 shares of the company’s stock, valued at approximately $550,170.74. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 427,673 shares of company stock worth $44,249,646. Insiders own 3.30% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of ServiceNow by 8.1% in the first quarter. Vanguard Group Inc. now owns 13,244,656 shares of the information technology services provider’s stock worth $1,158,511,000 after buying an additional 994,461 shares during the last quarter. FMR LLC increased its position in shares of ServiceNow by 91.1% in the first quarter. FMR LLC now owns 3,280,069 shares of the information technology services provider’s stock worth $286,908,000 after buying an additional 1,563,778 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of ServiceNow by 12.8% in the first quarter. TIAA CREF Investment Management LLC now owns 2,243,355 shares of the information technology services provider’s stock worth $196,226,000 after buying an additional 254,144 shares during the last quarter. Jennison Associates LLC increased its position in shares of ServiceNow by 2.7% in the first quarter. Jennison Associates LLC now owns 1,257,996 shares of the information technology services provider’s stock worth $110,037,000 after buying an additional 33,300 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of ServiceNow by 770.6% in the first quarter. Renaissance Technologies LLC now owns 1,072,600 shares of the information technology services provider’s stock worth $93,820,000 after buying an additional 949,400 shares during the last quarter. 97.59% of the stock is currently owned by institutional investors and hedge funds.

About ServiceNow

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)

What are top analysts saying about ServiceNow Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for ServiceNow Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit