Shares of ServiceNow Inc (NYSE:NOW) have been assigned a consensus recommendation of “Buy” from the thirty ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, twenty-four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $200.04.
A number of analysts have weighed in on NOW shares. Deutsche Bank increased their price target on shares of ServiceNow to $200.00 and gave the company a “buy” rating in a report on Thursday, May 31st. Deutsche Bank raised their price objective on shares of ServiceNow from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 31st. Citigroup raised their price objective on shares of ServiceNow to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 3rd. Barclays raised their price objective on shares of ServiceNow from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Thursday, July 12th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $210.00 price objective on shares of ServiceNow in a report on Friday, July 20th.
In related news, Director Ronald E. F. Codd sold 39,506 shares of the stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $185.88, for a total transaction of $7,343,375.28. Following the completion of the sale, the director now owns 53,428 shares in the company, valued at approximately $9,931,196.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chirantan Jitendra Desai sold 2,031 shares of the firm’s stock in a transaction dated Thursday, July 12th. The shares were sold at an average price of $188.83, for a total transaction of $383,513.73. Following the completion of the sale, the insider now owns 2,534 shares of the company’s stock, valued at approximately $478,495.22. The disclosure for this sale can be found here. Insiders have sold a total of 190,350 shares of company stock valued at $35,612,720 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of NOW. OppenheimerFunds Inc. boosted its stake in shares of ServiceNow by 401.7% in the 1st quarter. OppenheimerFunds Inc. now owns 1,439,564 shares of the information technology services provider’s stock valued at $238,176,000 after purchasing an additional 1,152,623 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in ServiceNow by 3,565.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 599,661 shares of the information technology services provider’s stock worth $3,051,000 after acquiring an additional 583,301 shares during the last quarter. Millennium Management LLC boosted its stake in ServiceNow by 355.8% during the 1st quarter. Millennium Management LLC now owns 696,135 shares of the information technology services provider’s stock worth $115,176,000 after acquiring an additional 543,392 shares during the last quarter. Janus Henderson Group PLC boosted its stake in ServiceNow by 44.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,652,619 shares of the information technology services provider’s stock worth $285,058,000 after acquiring an additional 507,435 shares during the last quarter. Finally, PointState Capital LP bought a new position in ServiceNow during the 2nd quarter worth approximately $71,482,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.
ServiceNow stock traded up $1.91 during mid-day trading on Wednesday, reaching $191.60. The company had a trading volume of 34,053 shares, compared to its average volume of 1,965,703. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.28. ServiceNow has a 52 week low of $110.17 and a 52 week high of $206.29. The company has a market cap of $33.75 billion, a PE ratio of -177.60, a price-to-earnings-growth ratio of 45.04 and a beta of 1.25.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. ServiceNow had a negative net margin of 4.16% and a negative return on equity of 7.48%. The firm had revenue of $631.05 million during the quarter, compared to the consensus estimate of $616.68 million. During the same period in the prior year, the firm earned $0.22 EPS. The business’s revenue was up 40.8% on a year-over-year basis. analysts expect that ServiceNow will post 0.16 earnings per share for the current fiscal year.
ServiceNow Company Profile
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.
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