ServiceNow, Inc. (NOW) Given a $120.00 Price Target by Robert W. Baird Analysts
ServiceNow, Inc. (NYSE:NOW) has been given a $120.00 price objective by stock analysts at Robert W. Baird in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the information technology services provider’s stock. Robert W. Baird’s target price suggests a potential downside of 1.44% from the stock’s previous close.
A number of other brokerages have also commented on NOW. Moffett Nathanson began coverage on ServiceNow in a research report on Wednesday, September 6th. They issued a “buy” rating for the company. Summit Redstone reaffirmed a “buy” rating and issued a $135.00 target price on shares of ServiceNow in a research report on Monday, September 18th. Credit Suisse Group began coverage on ServiceNow in a research report on Tuesday, September 5th. They issued an “outperform” rating and a $135.00 target price for the company. OTR Global lowered ServiceNow to a “positive” rating in a research report on Friday, July 14th. Finally, Barclays PLC boosted their target price on ServiceNow from $120.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $118.56.
ServiceNow (NYSE NOW) opened at 121.75 on Friday. ServiceNow has a 52-week low of $72.80 and a 52-week high of $121.76. The firm’s market capitalization is $20.78 billion. The stock’s 50 day moving average price is $114.88 and its 200 day moving average price is $103.90.
ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The business had revenue of $471.70 million during the quarter, compared to analyst estimates of $462.11 million. During the same period in the previous year, the company posted $0.15 EPS. The firm’s revenue was up 38.2% compared to the same quarter last year. On average, analysts predict that ServiceNow will post $1.17 EPS for the current fiscal year.
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In other ServiceNow news, Director Frederic B. Luddy sold 102,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $110.09, for a total transaction of $11,229,180.00. Following the sale, the director now owns 11,190 shares of the company’s stock, valued at approximately $1,231,907.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Slootman sold 150,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $117.17, for a total transaction of $17,575,500.00. Following the sale, the director now directly owns 216,535 shares in the company, valued at approximately $25,371,405.95. The disclosure for this sale can be found here. Insiders have sold a total of 1,176,353 shares of company stock worth $132,315,261 in the last three months. Insiders own 3.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in ServiceNow by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 13,985,997 shares of the information technology services provider’s stock valued at $1,482,516,000 after acquiring an additional 741,341 shares during the period. FMR LLC raised its holdings in ServiceNow by 3.2% during the 2nd quarter. FMR LLC now owns 3,383,647 shares of the information technology services provider’s stock valued at $358,666,000 after acquiring an additional 103,578 shares during the period. Capital World Investors bought a new stake in ServiceNow during the 2nd quarter valued at $259,594,000. Coatue Management LLC bought a new stake in ServiceNow during the 2nd quarter valued at $184,317,000. Finally, Federated Investors Inc. PA raised its holdings in ServiceNow by 29.4% during the 2nd quarter. Federated Investors Inc. PA now owns 1,723,732 shares of the information technology services provider’s stock valued at $182,716,000 after acquiring an additional 391,932 shares during the period.
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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