ServiceNow, Inc. (NYSE:NOW) was upgraded by research analysts at TheStreet from a “d” rating to a “c-” rating in a research report issued on Wednesday, July 26th.
A number of other equities analysts also recently commented on NOW. UBS AG reissued a “buy” rating and set a $110.00 price objective (up from $101.00) on shares of ServiceNow in a research report on Friday, April 28th. Canaccord Genuity reaffirmed a “buy” rating and issued a $130.00 price target (up from $110.00) on shares of ServiceNow in a report on Thursday, July 27th. Barclays PLC upped their price target on ServiceNow from $120.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Raymond James Financial, Inc. upped their price target on ServiceNow from $110.00 to $126.00 and gave the company a “strong-buy” rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada upped their price target on ServiceNow from $110.00 to $126.00 and gave the company a “top pick” rating in a report on Monday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company’s stock. ServiceNow presently has a consensus rating of “Buy” and an average target price of $115.96.
Shares of ServiceNow (NOW) traded down 0.55% on Wednesday, reaching $107.31. 920,337 shares of the company’s stock traded hands. The firm’s market capitalization is $18.32 billion. The firm’s 50 day moving average is $108.30 and its 200 day moving average is $97.34. ServiceNow has a 52 week low of $71.25 and a 52 week high of $115.85.
ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The business had revenue of $471.70 million during the quarter, compared to the consensus estimate of $462.11 million. During the same period in the previous year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was up 38.2% on a year-over-year basis. Analysts expect that ServiceNow will post $1.17 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This article was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this article on another domain, it was copied illegally and reposted in violation of international copyright and trademark law. The correct version of this article can be accessed at https://stocknewstimes.com/2017/08/15/servicenow-inc-nysenow-raised-to-c-at-thestreet-updated-updated.html.
In related news, Director Frank Slootman sold 31,293 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $107.84, for a total transaction of $3,374,637.12. Following the sale, the director now directly owns 36,664 shares in the company, valued at approximately $3,953,845.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frederic B. Luddy sold 167,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $108.34, for a total value of $18,092,780.00. Following the sale, the director now owns 11,190 shares in the company, valued at $1,212,324.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 760,934 shares of company stock worth $82,206,721. Company insiders own 3.30% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Cornerstone Advisors Inc. increased its stake in ServiceNow by 29.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock valued at $115,000 after buying an additional 245 shares in the last quarter. Barrett Asset Management LLC acquired a new stake in ServiceNow during the second quarter valued at about $117,000. Global X Management Co. LLC increased its stake in ServiceNow by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 330 shares in the last quarter. Hartford Financial Management Inc. acquired a new stake in ServiceNow during the first quarter valued at about $125,000. Finally, TLP Group LLC acquired a new stake in ServiceNow during the first quarter valued at about $131,000. Institutional investors own 98.25% 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.
