The Shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) has received a consensus recommendation of “Moderate Buy” from the thirty-five ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and twenty-two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $598.84.
NOW has been the subject of several recent research reports. Guggenheim initiated coverage on shares of ServiceNow in a report on Friday, August 12th. They issued a “neutral” rating and a $510.00 target price on the stock. Jefferies Financial Group cut their price target on shares of ServiceNow from $700.00 to $550.00 in a report on Monday, May 23rd. Stifel Nicolaus cut their price target on ServiceNow from $650.00 to $550.00 in a report on Wednesday, May 25th. Citigroup cut their price target on ServiceNow from $600.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Finally, Sanford C. Bernstein began coverage on ServiceNow in a report on Tuesday, July 19th. They set an “outperform” rating and a $646.00 target price on the stock.
ServiceNow Stock Performance
Shares of NOW stock opened at $444.16 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow has a one year low of $406.47 and a one year high of $707.60. The company’s 50-day simple moving average is $462.81 and its 200-day simple moving average is $488.75. The stock has a market capitalization of $89.72 billion, a price-to-earnings ratio of 488.09, a PEG ratio of 8.84 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. In the same quarter last year, the company posted $0.38 earnings per share. ServiceNow’s revenue increased 24.3% on a year-over-year basis. equities analysts anticipate that ServiceNow will post 1.72 earnings per share for the current fiscal year.
Insider Buying and Selling at ServiceNow
In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of the sale, the director now owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this link. In related news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $497.01, for a total value of $3,280,266.00. Following the completion of the sale, the director now owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC’s website. Also, General Counsel Russell S. Elmer sold 4,812 shares of ServiceNow stock in a transaction on Monday, August 1st. The stock was sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the completion of the transaction, the general counsel now owns 9,293 shares in the company, valued at approximately $4,079,534.07. The disclosure for this sale can be found here. Insiders sold 30,256 shares of company stock worth $14,019,372 in the last quarter. Company insiders own 0.28% of the company’s stock.
Institutional Entry and Exit
Several institutional investors and hedge funds have recently made changes to their positions in NOW. HighTower Advisors LLC raised its holdings in shares of ServiceNow by 10.7% during the 4th quarter. HighTower Advisors LLC now owns 56,481 shares of the information technology services provider’s stock valued at $36,639,000 after buying an additional 5,438 shares during the period. Dowling & Yahnke LLC raised its holdings in shares of ServiceNow by 18.3% during the 4th quarter. Dowling & Yahnke LLC now owns 2,297 shares of the information technology services provider’s stock valued at $1,491,000 after buying an additional 356 shares during the period. Paradigm Financial Partners LLC increased its stake in ServiceNow by 616.9% in the fourth quarter. Paradigm Financial Partners LLC now owns 6,545 shares of the information technology services provider’s stock valued at $3,786,000 after acquiring an additional 5,632 shares during the period. Acadian Asset Management LLC increased its stake in ServiceNow by 114.5% in the fourth quarter. Acadian Asset Management LLC now owns 8,490 shares of the information technology services provider’s stock valued at $5,508,000 after acquiring an additional 4,532 shares during the period. Finally, Rafferty Asset Management LLC raised its stake in ServiceNow by 14.8% in the fourth quarter. Rafferty Asset Management LLC now owns 43,544 shares of the information technology services provider’s stock valued at $28,265,000 after acquiring an additional 5,611 shares during the period. Institutional investors own 87.49% of the company’s stock.
About ServiceNow
(Get Rating)
ServiceNow, Inc provides enterprise cloud computing solutions that define, build, integrate, manage, and automate services for businesses worldwide. It powers the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
Recommended Stories
This instant news alert is generated through narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider ServiceNow, you’ll want to hear this.
MarketBeat tracks the highest-rated and best-performing Wall Street research analysts and the stocks they recommend to their clients every day. MarketBeat has identified five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches up… and ServiceNow isn’t on the list.
While ServiceNow currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Check Out The Five Stocks Here