ServiceNow, Inc. (NOW) Cut to “Positive” at OTR Global

OTR Global downgraded shares of ServiceNow, Inc. (NYSE:NOW) to a positive rating in a research report report published on Friday morning, The Fly reports.

A number of other equities analysts also recently issued reports on the company. Zacks Investment Research raised ServiceNow from a hold rating to a buy rating and set a $106.00 price target on the stock in a research report on Friday, April 28th. Morgan Stanley upped their price target on ServiceNow from $108.00 to $114.00 and gave the stock an overweight rating in a research report on Friday, April 28th. BMO Capital Markets upped their price target on ServiceNow from $104.00 to $110.00 and gave the stock an outperform rating in a research report on Thursday, April 27th. Barclays PLC reaffirmed an overweight rating and set a $115.00 price target (up from $107.00) on shares of ServiceNow in a research report on Monday, June 5th. Finally, Royal Bank Of Canada upped their price target on ServiceNow from $108.00 to $110.00 and gave the stock a top pick rating in a research report on Thursday, April 27th. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $105.43.

Shares of ServiceNow (NOW) traded up 0.71% on Friday, hitting $110.78. The stock had a trading volume of 1,673,317 shares. ServiceNow has a 52-week low of $69.63 and a 52-week high of $113.01. The company has a 50-day moving average of $103.78 and a 200-day moving average of $90.97. The company’s market cap is $18.80 billion.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 26th. The information technology services provider reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.02. The business had revenue of $416.80 million during the quarter, compared to the consensus estimate of $409.26 million. ServiceNow had a negative return on equity of 31.34% and a negative net margin of 10.60%. The business’s quarterly revenue was up 36.3% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. On average, equities analysts anticipate that ServiceNow will post $1.17 EPS for the current fiscal year.

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In other news, CRO David Schneider sold 2,243 shares of ServiceNow stock in a transaction on Monday, May 15th. The shares were sold at an average price of $97.04, for a total transaction of $217,660.72. Following the completion of the sale, the executive now directly owns 47,654 shares of the company’s stock, valued at approximately $4,624,344.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frederic B. Luddy sold 102,000 shares of ServiceNow stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $94.96, for a total transaction of $9,685,920.00. Following the sale, the director now directly owns 6,232 shares of the company’s stock, valued at $591,790.72. The disclosure for this sale can be found here. Insiders sold a total of 427,673 shares of company stock valued at $44,249,646 in the last three months. 3.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in NOW. LS Investment Advisors LLC raised its stake in shares of ServiceNow by 3.6% in the second quarter. LS Investment Advisors LLC now owns 1,738 shares of the information technology services provider’s stock valued at $184,000 after buying an additional 61 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of ServiceNow by 2.5% in the first quarter. Nordea Investment Management AB now owns 3,567 shares of the information technology services provider’s stock valued at $312,000 after buying an additional 88 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of ServiceNow by 1.4% in the first quarter. Janney Montgomery Scott LLC now owns 6,794 shares of the information technology services provider’s stock valued at $594,000 after buying an additional 93 shares in the last quarter. Crow Point Partners LLC raised its stake in shares of ServiceNow by 8.8% in the second quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock valued at $140,000 after buying an additional 107 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of ServiceNow by 3.2% in the first quarter. Pacer Advisors Inc. now owns 3,501 shares of the information technology services provider’s stock valued at $306,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 97.59% of the company’s stock.

ServiceNow Company Profile

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.

The Fly

Analyst Recommendations for ServiceNow (NYSE:NOW)

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