ServiceNow (NOW) Earns “Outperform” Rating from Credit Suisse Group

Credit Suisse Group reiterated their outperform rating on shares of ServiceNow (NYSE:NOW) in a research report sent to investors on Tuesday, The Fly reports. They currently have a $160.00 price objective on the information technology services provider’s stock, up from their prior price objective of $138.00.

Other equities analysts have also issued reports about the stock. KeyCorp restated an overweight rating and issued a $150.00 price target (up from $125.00) on shares of ServiceNow in a research report on Thursday, October 26th. Argus restated a buy rating and issued a $150.00 price target (up from $125.00) on shares of ServiceNow in a research report on Friday, October 27th. Stifel Nicolaus boosted their price target on shares of ServiceNow from $110.00 to $120.00 and gave the company a hold rating in a research report on Thursday, October 26th. Mizuho restated a buy rating and issued a $140.00 price target on shares of ServiceNow in a research report on Wednesday, October 25th. Finally, Canaccord Genuity restated a buy rating and issued a $150.00 price target (up from $130.00) on shares of ServiceNow in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-eight have assigned a buy rating and three have given a strong buy rating to the stock. ServiceNow currently has an average rating of Buy and a consensus price target of $133.73.

ServiceNow (NOW) traded up $1.14 during trading hours on Tuesday, reaching $142.27. 1,594,513 shares of the company’s stock were exchanged, compared to its average volume of 1,576,454. The firm has a market capitalization of $24,290.00, a price-to-earnings ratio of -156.34 and a beta of 1.06. ServiceNow has a 52-week low of $82.14 and a 52-week high of $142.52. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.66 and a current ratio of 1.66.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.06. The firm had revenue of $498.20 million for the quarter, compared to analyst estimates of $491.62 million. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. The company’s revenue for the quarter was up 39.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share. analysts expect that ServiceNow will post -0.35 earnings per share for the current fiscal year.

In other ServiceNow news, Director Frederic B. Luddy sold 170,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $129.43, for a total value of $22,003,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Scarpelli sold 95,035 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $126.52, for a total transaction of $12,023,828.20. Following the completion of the sale, the insider now directly owns 194,664 shares of the company’s stock, valued at approximately $24,628,889.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 630,174 shares of company stock valued at $80,823,650. 3.30% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of NOW. Capital World Investors bought a new stake in ServiceNow in the second quarter valued at approximately $259,594,000. Coatue Management LLC bought a new stake in ServiceNow in the second quarter valued at approximately $184,317,000. Capital Research Global Investors bought a new stake in ServiceNow in the second quarter valued at approximately $93,763,000. Vanguard Group Inc. increased its stake in ServiceNow by 5.6% in the second 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 purchasing an additional 741,341 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in ServiceNow by 59.2% in the second quarter. Renaissance Technologies LLC now owns 1,708,100 shares of the information technology services provider’s stock valued at $181,059,000 after purchasing an additional 635,500 shares in the last quarter.

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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.

The Fly

Analyst Recommendations for ServiceNow (NYSE:NOW)

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