BidaskClub cut shares of ServiceNow Inc (NYSE:NOW) from a strong-buy rating to a buy rating in a report issued on Tuesday, July 25th.
A number of other analysts have also recently issued reports on NOW. Stifel Nicolaus initiated coverage on ServiceNow in a research report on Tuesday, April 11th. They issued a hold rating and a $90.00 price objective for the company. Canaccord Genuity reaffirmed a buy rating and issued a $105.00 price objective on shares of ServiceNow in a research report on Friday, April 21st. MKM Partners reaffirmed a neutral rating on shares of ServiceNow in a research report on Friday, April 21st. BTIG Research reaffirmed a buy rating on shares of ServiceNow in a research report on Monday, April 24th. Finally, BMO Capital Markets raised their price objective on ServiceNow from $104.00 to $110.00 and gave the company an outperform rating in a research report on Thursday, April 27th. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the stock. ServiceNow has an average rating of Buy and an average price target of $115.96.
Shares of ServiceNow (NYSE NOW) traded up 1.56% on Tuesday, hitting $106.05. The stock had a trading volume of 957,047 shares. ServiceNow has a 52 week low of $71.25 and a 52 week high of $115.85. The stock’s 50-day moving average price is $108.29 and its 200 day moving average price is $97.03. The company’s market cap is $18.10 billion.
ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. ServiceNow had a negative return on equity of 49.80% and a negative net margin of 11.97%. The company had revenue of $471.70 million during the quarter, compared to analysts’ expectations of $462.11 million. During the same period last year, the firm posted $0.15 earnings per share. The business’s revenue was up 38.2% on a year-over-year basis. On average, analysts predict that ServiceNow will post $1.17 EPS for the current year.
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In other ServiceNow news, CRO David Schneider sold 2,243 shares of ServiceNow stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $97.04, for a total transaction of $217,660.72. Following the transaction, the executive now directly owns 47,654 shares of the company’s stock, valued at approximately $4,624,344.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 150,000 shares of ServiceNow stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $104.09, for a total value of $15,613,500.00. Following the transaction, the director now directly owns 356,287 shares in the company, valued at $37,085,913.83. The disclosure for this sale can be found here. Insiders have sold a total of 763,177 shares of company stock worth $82,424,382 over the last ninety days. Company insiders own 3.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Advisors Inc. increased its position 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 worth $115,000 after buying an additional 245 shares during the period. Barrett Asset Management LLC purchased a new position in ServiceNow during the second quarter worth $117,000. Global X Management Co. LLC increased its position 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 worth $123,000 after buying an additional 330 shares during the period. Hartford Financial Management Inc. purchased a new position in ServiceNow during the first quarter worth $125,000. Finally, TLP Group LLC purchased a new position in ServiceNow during the first quarter worth $131,000. 97.53% of the stock is currently owned by institutional investors and hedge funds.
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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