ServiceNow, Inc. (NYSE:NOW) has been assigned a $120.00 price objective by stock analysts at Robert W. Baird in a research report issued on Friday, October 6th. The firm presently has a “buy” rating on the information technology services provider’s stock. Robert W. Baird’s price objective indicates a potential downside of 0.64% from the stock’s current price.
Other research analysts also recently issued research reports about the company. Canaccord Genuity restated a “buy” rating and issued a $130.00 price objective (up previously from $110.00) on shares of ServiceNow in a research note on Thursday, July 27th. BidaskClub cut ServiceNow from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Citigroup Inc. reissued a “buy” rating and set a $135.00 price objective (up previously from $109.00) on shares of ServiceNow in a report on Saturday, July 22nd. Guggenheim reissued a “buy” rating and set a $120.00 price objective (up previously from $108.00) on shares of ServiceNow in a report on Thursday, July 27th. Finally, Moffett Nathanson assumed coverage on ServiceNow in a report on Wednesday, September 6th. They set a “buy” rating on the stock. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $119.76.
ServiceNow (NYSE:NOW) opened at 120.77 on Friday. ServiceNow has a 1-year low of $72.80 and a 1-year high of $123.58. The firm has a 50 day moving average of $117.48 and a 200 day moving average of $106.09. The firm’s market cap is $20.62 billion.
ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The firm had revenue of $471.70 million during the quarter, compared to the consensus estimate of $462.11 million. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The company’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 earnings per share. On average, equities research analysts expect that ServiceNow will post $1.17 EPS for the current year.
In other ServiceNow news, CRO David Schneider sold 16,349 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $107.25, for a total transaction of $1,753,430.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederic B. Luddy sold 50,000 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $120.82, for a total transaction of $6,041,000.00. Following the transaction, the director now directly owns 29,990 shares of the company’s stock, valued at $3,623,391.80. The disclosure for this sale can be found here. Insiders sold a total of 1,172,353 shares of company stock valued at $133,460,161 in the last quarter. 3.30% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the stock. Ardsley Advisory Partners lifted its position in ServiceNow by 28.0% in the 2nd quarter. Ardsley Advisory Partners now owns 80,000 shares of the information technology services provider’s stock valued at $8,478,000 after purchasing an additional 17,500 shares during the last quarter. Toronto Dominion Bank lifted its position in ServiceNow by 12.3% in the 2nd quarter. Toronto Dominion Bank now owns 2,040 shares of the information technology services provider’s stock valued at $216,000 after purchasing an additional 224 shares during the last quarter. WINTON GROUP Ltd bought a new stake in ServiceNow in the 2nd quarter valued at about $262,000. Castleark Management LLC bought a new stake in ServiceNow in the 2nd quarter valued at about $446,000. Finally, Raymond James Financial Services Advisors Inc. lifted its position in ServiceNow by 7.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 44,307 shares of the information technology services provider’s stock valued at $4,697,000 after purchasing an additional 3,129 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.
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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