Shares of ServiceNow Inc. (NYSE:NOW) have been given an average recommendation of “Buy” by the thirty-three ratings firms that are presently covering the company. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, twenty-two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $85.19.
Several brokerages have recently issued reports on NOW. Piper Jaffray Cos. reissued an “overweight” rating and issued a $90.00 price target on shares of ServiceNow in a report on Thursday, July 28th. Zacks Investment Research raised shares of ServiceNow from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research report on Wednesday, August 3rd. OTR Global raised shares of ServiceNow to a “positive” rating in a research report on Wednesday, July 13th. Citigroup Inc. boosted their price objective on shares of ServiceNow from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday, July 20th. Finally, MKM Partners boosted their price objective on shares of ServiceNow from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, July 28th.
Shares of ServiceNow (NYSE:NOW) opened at 79.57 on Thursday. The stock has a 50 day moving average price of $75.39 and a 200 day moving average price of $70.98. The firm’s market capitalization is $13.09 billion. ServiceNow has a 12 month low of $46.00 and a 12 month high of $91.28.
ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. ServiceNow had a negative net margin of 38.64% and a negative return on equity of 36.56%. The company earned $341.30 million during the quarter, compared to analyst estimates of $334.07 million. During the same quarter in the previous year, the business earned $0.05 EPS. The firm’s revenue was up 38.3% on a year-over-year basis. On average, analysts expect that ServiceNow will post $0.66 earnings per share for the current year.
In related news, Director William L. Strauss sold 5,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $74.54, for a total transaction of $372,700.00. Following the sale, the director now owns 10,061 shares in the company, valued at approximately $749,946.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Daniel Mcgee sold 27,814 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $74.72, for a total transaction of $2,078,262.08. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of NOW. Nomura Asset Management Co. Ltd. increased its position in shares of ServiceNow by 3.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 14,900 shares of the company’s stock valued at $1,290,000 after buying an additional 460 shares during the last quarter. Norges Bank bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $33,008,000. Fisher Asset Management LLC increased its position in shares of ServiceNow by 10.6% in the first quarter. Fisher Asset Management LLC now owns 19,572 shares of the company’s stock valued at $1,239,000 after buying an additional 1,878 shares during the last quarter. Aperio Group LLC increased its position in shares of ServiceNow by 16.3% in the first quarter. Aperio Group LLC now owns 23,072 shares of the company’s stock valued at $1,412,000 after buying an additional 3,237 shares during the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of ServiceNow during the first quarter valued at approximately $201,000. 95.72% of the stock is owned by institutional investors and hedge funds.
ServiceNow, Inc is a provider of cloud-based solutions that define, structure, manage and automate services across the global enterprise. The Company provides cloud-based service management and business management solutions that address the needs of various departments within an enterprise, including information technology (IT), human resources (HR), facilities, field service, marketing, customer service, security, legal and finance.
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