ServiceNow, Inc. (NYSE:NOW)‘s stock had its “overweight” rating restated by equities research analysts at Morgan Stanley in a research report issued on Thursday, July 20th. They currently have a $134.00 target price on the information technology services provider’s stock, up from their prior target price of $124.00. Morgan Stanley’s price target indicates a potential upside of 23.21% from the stock’s current price.
Other analysts also recently issued research reports about the company. UBS AG reaffirmed a “buy” rating and set a $110.00 price objective (up previously from $101.00) on shares of ServiceNow in a research note on Friday, April 28th. BidaskClub downgraded ServiceNow from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. FBN Securities lifted their price target on ServiceNow from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. Deutsche Bank AG lifted their price target on ServiceNow from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Finally, Stifel Nicolaus lifted their price target on ServiceNow from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the stock. ServiceNow currently has a consensus rating of “Buy” and a consensus target price of $115.96.
ServiceNow (NYSE NOW) traded down 0.89% during midday trading on Thursday, hitting $107.79. The stock had a trading volume of 439,153 shares. The company’s market cap is $18.37 billion. The company has a 50-day moving average price of $107.37 and a 200-day moving average price of $95.91. ServiceNow has a 12-month low of $71.25 and a 12-month high of $115.85.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The business had revenue of $471.70 million for the quarter, compared to the consensus estimate of $462.11 million. ServiceNow had a negative return on equity of 30.72% and a negative net margin of 10.17%. The firm’s revenue was up 38.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. Equities analysts anticipate that ServiceNow will post $1.17 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “ServiceNow, Inc. (NYSE:NOW) Earns “Overweight” Rating from Morgan Stanley” was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://stocknewstimes.com/2017/08/08/servicenow-inc-nysenow-price-target-raised-to-134-00-at-morgan-stanley-updated-updated.html.
In other ServiceNow news, Director Frederic B. Luddy sold 167,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $108.34, for a total transaction of $18,092,780.00. Following the completion of the transaction, the director now directly owns 11,190 shares in the company, valued at $1,212,324.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 252,211 shares of the business’s stock in a transaction that occurred on 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 owns 356,287 shares of the company’s stock, valued at $38,902,977.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 731,884 shares of company stock valued at $79,049,745. 3.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in NOW. Gateway Investment Advisers LLC increased its position in shares of ServiceNow by 7.7% in the first quarter. Gateway Investment Advisers LLC now owns 85,226 shares of the information technology services provider’s stock valued at $7,455,000 after buying an additional 6,122 shares during the period. Inverness Counsel LLC NY increased its position in shares of ServiceNow by 28.4% in the first quarter. Inverness Counsel LLC NY now owns 119,639 shares of the information technology services provider’s stock valued at $10,108,000 after buying an additional 26,490 shares during the period. Capstone Asset Management Co. increased its position in shares of ServiceNow by 16.3% in the first quarter. Capstone Asset Management Co. now owns 3,782 shares of the information technology services provider’s stock valued at $331,000 after buying an additional 530 shares during the period. Bank of Montreal Can increased its position 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. Finally, National Pension Service increased its position in shares of ServiceNow by 5.1% in the first quarter. National Pension Service now owns 152,853 shares of the information technology services provider’s stock valued at $13,289,000 after buying an additional 7,415 shares during the period. Institutional investors own 97.53% 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.
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.
