ServiceNow (NOW) PT Raised to $168.00 at UBS

ServiceNow (NYSE:NOW) had its target price upped by UBS from $128.00 to $168.00 in a research report report published on Thursday, November 9th, www.benzinga.com reports. They currently have a buy rating on the information technology services provider’s stock.

Several other research firms have also weighed in on NOW. Argus restated a buy rating and set a $150.00 price target (up from $125.00) on shares of ServiceNow in a research report on Friday, October 27th. Bank of America boosted their target price on ServiceNow from $136.00 to $140.00 and gave the stock a buy rating in a report on Wednesday, October 25th. Zacks Investment Research downgraded ServiceNow from a hold rating to a sell rating in a report on Monday, October 30th. Piper Jaffray Companies raised ServiceNow from a neutral rating to an overweight rating in a report on Monday, October 23rd. Finally, Mizuho reaffirmed a buy rating and set a $140.00 price target on shares of ServiceNow in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have issued a buy rating and three have issued a strong buy rating to the stock. ServiceNow has a consensus rating of Buy and a consensus price target of $130.50.

ServiceNow (NOW) opened at $126.63 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.10. ServiceNow has a 12 month low of $72.80 and a 12 month high of $130.05.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.06. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The company had revenue of $498.20 million for the quarter, compared to analyst estimates of $491.62 million. During the same period in the previous year, the company posted $0.23 earnings per share. The firm’s revenue was up 39.3% on a year-over-year basis. analysts predict that ServiceNow will post -0.35 earnings per share for the current year.

In other news, Director Frederic B. Luddy sold 165,000 shares of ServiceNow stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $116.03, for a total value of $19,144,950.00. Following the transaction, the director now directly owns 29,990 shares in the company, valued at approximately $3,479,739.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Slootman sold 150,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $115.38, for a total value of $17,307,000.00. Following the completion of the sale, the director now directly owns 216,535 shares of the company’s stock, valued at approximately $24,983,808.30. The disclosure for this sale can be found here. Insiders have sold a total of 962,639 shares of company stock worth $114,959,897 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Cornerstone Advisors Inc. boosted its holdings in shares of ServiceNow by 29.2% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock worth $115,000 after purchasing an additional 245 shares during the last quarter. Barrett Asset Management LLC acquired a new position in shares of ServiceNow during the 2nd quarter worth approximately $117,000. SeaBridge Investment Advisors LLC acquired a new position in shares of ServiceNow during the 3rd quarter worth approximately $118,000. Rockefeller Financial Services Inc. acquired a new position in shares of ServiceNow during the 3rd quarter worth approximately $138,000. Finally, Crow Point Partners LLC boosted its holdings in shares of ServiceNow by 8.8% during the 2nd quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock worth $140,000 after purchasing an additional 107 shares during the last quarter.

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About ServiceNow

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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