ServiceNow, Inc. (NYSE:NOW)‘s stock had its “hold” rating reaffirmed by Piper Jaffray Companies in a research note issued on Friday, July 28th.
Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of ServiceNow from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. 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. Zacks Investment Research upgraded shares of ServiceNow from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research report on Friday, April 28th. BTIG Research reaffirmed a “buy” rating on shares of ServiceNow in a report on Monday, April 24th. Finally, ValuEngine raised shares of ServiceNow from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $115.96.
ServiceNow (NYSE:NOW) traded down 0.87% during midday trading on Friday, hitting $108.76. 1,009,614 shares of the company traded hands. The stock’s 50-day moving average price is $107.37 and its 200 day moving average price is $95.91. ServiceNow has a 12-month low of $71.25 and a 12-month high of $115.85. The company’s market capitalization is $18.53 billion.
ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 30.72%. The business had revenue of $471.70 million for the quarter, compared to analyst estimates of $462.11 million. During the same quarter in the prior year, the business earned $0.15 EPS. ServiceNow’s quarterly revenue was up 38.2% on a year-over-year basis. On average, equities analysts forecast that ServiceNow will post $1.17 EPS for the current year.
In related news, Director Frank Slootman sold 252,211 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $109.19, for a total transaction of $27,538,919.09. Following the transaction, the director now directly owns 356,287 shares of the company’s stock, valued at $38,902,977.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John J. Donahoe purchased 11,236 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were purchased at an average cost of $98.05 per share, for a total transaction of $1,101,689.80. Following the completion of the transaction, the insider now directly owns 5,618 shares of the company’s stock, valued at $550,844.90. The disclosure for this purchase can be found here. Insiders sold 731,884 shares of company stock worth $79,049,745 over the last ninety days. Insiders own 3.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DnB Asset Management AS raised its stake in ServiceNow by 41.1% in the first quarter. DnB Asset Management AS now owns 18,542 shares of the information technology services provider’s stock worth $1,622,000 after buying an additional 5,400 shares in the last quarter. Nippon Life Insurance Co. acquired a new stake in shares of ServiceNow during the first quarter valued at $700,000. Cullen Frost Bankers Inc. raised its stake in shares of ServiceNow by 2,041.4% in the first quarter. Cullen Frost Bankers Inc. now owns 67,990 shares of the information technology services provider’s stock valued at $5,947,000 after buying an additional 64,815 shares during the period. Strs Ohio raised its stake in shares of ServiceNow by 4.2% in the first quarter. Strs Ohio now owns 748,982 shares of the information technology services provider’s stock valued at $65,513,000 after buying an additional 30,286 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of ServiceNow by 65.2% in the first quarter. Bank of Montreal Can now owns 153,219 shares of the information technology services provider’s stock valued at $13,401,000 after buying an additional 60,487 shares during the period. 97.53% of the stock is currently owned by institutional investors.
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.
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