ServiceNow, Inc. (NYSE:NOW) has been assigned an average rating of “Buy” from the forty analysts that are covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation, twenty-nine have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $127.83.
A number of equities research analysts recently weighed in on NOW shares. Zacks Investment Research upgraded shares of ServiceNow from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. OTR Global lowered shares of ServiceNow to a “positive” rating in a report on Friday, July 14th. Morgan Stanley reiterated an “overweight” rating and set a $134.00 price objective (up previously from $124.00) on shares of ServiceNow in a report on Thursday, July 20th. Citigroup Inc. reiterated a “buy” rating and set a $135.00 price objective (up previously from $109.00) on shares of ServiceNow in a report on Saturday, July 22nd. Finally, Royal Bank Of Canada lifted their price objective on shares of ServiceNow from $110.00 to $126.00 and gave the company a “top pick” rating in a report on Monday, July 24th.
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In other ServiceNow news, CRO David Schneider sold 16,349 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $107.25, for a total transaction of $1,753,430.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Frederic B. Luddy sold 50,000 shares of the business’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 transaction of $6,041,000.00. Following the sale, the director now directly owns 29,990 shares in the company, valued at approximately $3,623,391.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,172,353 shares of company stock worth $133,460,161. 3.30% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of ServiceNow by 5.6% in the 2nd quarter. Vanguard Group Inc. now owns 13,985,997 shares of the information technology services provider’s stock valued at $1,482,516,000 after acquiring an additional 741,341 shares during the last quarter. FMR LLC boosted its holdings in shares of ServiceNow by 3.2% in the 2nd quarter. FMR LLC now owns 3,383,647 shares of the information technology services provider’s stock valued at $358,666,000 after acquiring an additional 103,578 shares during the last quarter. Capital World Investors purchased a new stake in shares of ServiceNow in the 2nd quarter valued at $259,594,000. Coatue Management LLC purchased a new stake in shares of ServiceNow in the 2nd quarter valued at $184,317,000. Finally, Federated Investors Inc. PA boosted its holdings in shares of ServiceNow by 29.4% in the 2nd quarter. Federated Investors Inc. PA now owns 1,723,732 shares of the information technology services provider’s stock valued at $182,716,000 after acquiring an additional 391,932 shares during the last quarter.
Shares of ServiceNow (NYSE NOW) traded down 0.33% during trading on Friday, hitting $125.73. 2,629,704 shares of the company traded hands. The company has a 50 day moving average price of $119.14 and a 200 day moving average price of $107.89. ServiceNow has a 52 week low of $72.80 and a 52 week high of $129.56. The company’s market capitalization is $21.36 billion.
ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 23.64%. The company had revenue of $498.20 million during the quarter, compared to analyst estimates of $491.62 million. During the same quarter last year, the business posted $0.23 EPS. The firm’s revenue for the quarter was up 39.3% on a year-over-year basis. On average, analysts expect that ServiceNow will post $1.19 earnings per share for the current year.
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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