ServiceNow Inc. (NOW) Now Covered by BMO Capital Markets
Research analysts at BMO Capital Markets initiated coverage on shares of ServiceNow Inc. (NYSE:NOW) in a report released on Monday. The brokerage set a “market perform” rating on the stock.
Other research analysts also recently issued reports about the company. Pacific Crest reiterated a “buy” rating on shares of ServiceNow in a research note on Sunday, May 22nd. Mizuho upgraded ServiceNow from a “neutral” rating to a “buy” rating and lifted their target price for the company from $70.00 to $85.00 in a research note on Friday, July 15th. MKM Partners lifted their target price on ServiceNow from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, July 28th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $90.00 target price on shares of ServiceNow in a research note on Friday, July 15th. Finally, Guggenheim initiated coverage on ServiceNow in a research note on Wednesday, September 14th. They issued a “buy” rating and a $90.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $84.45.
ServiceNow (NYSE:NOW) traded down 1.68% during midday trading on Monday, reaching $75.99. 923,852 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $74.52 and its 200 day moving average is $69.74. The firm’s market capitalization is $12.50 billion. ServiceNow has a 52 week low of $46.00 and a 52 week high of $91.28.
ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $341.30 million for the quarter, compared to analyst estimates of $334.07 million. ServiceNow had a negative return on equity of 36.56% and a negative net margin of 38.64%. The firm’s revenue was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 earnings per share. On average, equities analysts anticipate that ServiceNow will post $0.65 earnings per share for the current year.
In other news, CRO David Schneider sold 5,000 shares of the company’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $69.26, for a total value of $346,300.00. Following the completion of the sale, the executive now owns 25,652 shares of the company’s stock, valued at $1,776,657.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Daniel Mcgee sold 27,814 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $74.72, for a total value of $2,078,262.08. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.
Large investors have recently modified their holdings of the company. Mizuho Asset Management Co. Ltd. increased its stake in shares of ServiceNow by 162.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock valued at $151,000 after buying an additional 1,406 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of ServiceNow by 343.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,379 shares of the company’s stock valued at $158,000 after buying an additional 1,843 shares during the last quarter. BlueMountain Capital Management LLC bought a new stake in shares of ServiceNow during the second quarter valued at $177,000. Parametrica Management Ltd bought a new stake in shares of ServiceNow during the first quarter valued at $201,000. Finally, Capstone Asset Management Co. bought a new stake in shares of ServiceNow during the second quarter valued at $231,000. 95.82% of the stock is owned by institutional investors.
ServiceNow Company Profile
ServiceNow, Inc is a provider of cloud-based solutions that define, structure, manage and automate services across the global enterprise. The Company provides cloud-based service management and business management solutions that address the needs of various departments within an enterprise, including information technology (IT), human resources (HR), facilities, field service, marketing, customer service, security, legal and finance.
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