ServiceNow (NYSE:NOW) Raised to “Buy” at Stifel Nicolaus

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Stifel Nicolaus upgraded shares of ServiceNow (NYSE:NOW) from a hold rating to a buy rating in a research report report published on Wednesday morning, BenzingaRatingsTable reports. The firm currently has $320.00 target price on the information technology services provider’s stock, up from their prior target price of $290.00.

Several other equities research analysts have also commented on NOW. Deutsche Bank upped their price target on ServiceNow from $285.00 to $305.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. Needham & Company LLC upped their price target on ServiceNow from $276.00 to $320.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Raymond James upped their price target on ServiceNow from $340.00 to $342.00 and gave the stock a strong-buy rating in a research note on Thursday, July 25th. William Blair restated an outperform rating on shares of ServiceNow in a research note on Thursday, July 25th. Finally, Piper Jaffray Companies upped their price target on ServiceNow from $260.00 to $270.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. ServiceNow presently has an average rating of Buy and an average target price of $291.66.

ServiceNow stock opened at $263.07 on Wednesday. The firm has a market capitalization of $49.62 billion, a P/E ratio of 1,315.35, a PEG ratio of 22.68 and a beta of 1.30. The stock has a fifty day moving average price of $278.78 and a 200 day moving average price of $260.31. ServiceNow has a 52 week low of $147.63 and a 52 week high of $303.17. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.54.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The firm had revenue of $833.90 million during the quarter, compared to analyst estimates of $831.50 million. ServiceNow had a return on equity of 4.29% and a net margin of 0.09%. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. As a group, equities analysts predict that ServiceNow will post 0.43 EPS for the current year.

In other news, insider David Schneider sold 3,559 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $269.08, for a total value of $957,655.72. Following the completion of the sale, the insider now owns 47,765 shares of the company’s stock, valued at $12,852,606.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Fay Sien Goon sold 408 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $258.36, for a total value of $105,410.88. Following the completion of the sale, the insider now directly owns 41,777 shares of the company’s stock, valued at approximately $10,793,505.72. The disclosure for this sale can be found here. Insiders sold 117,767 shares of company stock valued at $32,107,343 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Treasurer of the State of North Carolina boosted its holdings in ServiceNow by 62.0% in the second quarter. Treasurer of the State of North Carolina now owns 114,879 shares of the information technology services provider’s stock valued at $31,542,000 after purchasing an additional 43,980 shares during the last quarter. Cresset Asset Management LLC boosted its holdings in ServiceNow by 28.3% in the second quarter. Cresset Asset Management LLC now owns 893 shares of the information technology services provider’s stock valued at $245,000 after purchasing an additional 197 shares during the last quarter. Barings LLC boosted its holdings in ServiceNow by 22.3% in the second quarter. Barings LLC now owns 2,910 shares of the information technology services provider’s stock valued at $799,000 after purchasing an additional 531 shares during the last quarter. Marvin & Palmer Associates Inc. boosted its holdings in ServiceNow by 7.0% in the second quarter. Marvin & Palmer Associates Inc. now owns 22,516 shares of the information technology services provider’s stock valued at $6,182,000 after purchasing an additional 1,471 shares during the last quarter. Finally, Chartwell Investment Partners LLC boosted its holdings in ServiceNow by 8.3% in the second quarter. Chartwell Investment Partners LLC now owns 19,607 shares of the information technology services provider’s stock valued at $5,383,000 after purchasing an additional 1,497 shares during the last quarter. 92.80% of the stock is owned by institutional investors.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Analyst Recommendations for ServiceNow (NYSE:NOW)

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