ServiceNow’s (NOW) “Hold” Rating Reaffirmed at Stifel Nicolaus
Stifel Nicolaus reissued their hold rating on shares of ServiceNow, Inc. (NYSE:NOW) in a research note published on Thursday morning. Stifel Nicolaus currently has a $110.00 price target on the information technology services provider’s stock, up from their prior price target of $93.00.
Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded ServiceNow from a hold rating to a buy rating and set a $106.00 price objective for the company in a research report on Friday, April 28th. Morgan Stanley upped their price objective 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 objective on ServiceNow from $104.00 to $110.00 and gave the stock an outperform rating in a research report on Thursday, April 27th. BidaskClub upgraded ServiceNow from a buy rating to a strong-buy rating in a research report on Tuesday, June 27th. Finally, Barclays PLC reiterated an overweight rating and issued a $115.00 target price (up from $107.00) on shares of ServiceNow in a research report on Monday, June 5th. Eight research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. ServiceNow presently has a consensus rating of Buy and an average price target of $114.76.
Shares of ServiceNow (NOW) traded down 1.33% on Thursday, hitting $110.17. The company’s stock had a trading volume of 1,312,380 shares. The stock’s 50-day moving average price is $106.94 and its 200-day moving average price is $95.33. ServiceNow has a 52 week low of $71.25 and a 52 week high of $115.85. The firm’s market cap is $18.78 billion.
ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $471.70 million for the quarter, compared to analyst estimates of $462.11 million. ServiceNow had a negative return on equity of 30.72% and a negative net margin of 10.17%. ServiceNow’s quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS. Equities analysts expect that ServiceNow will post $1.17 earnings per share for the current fiscal year.
In other ServiceNow news, Director Frederic B. Luddy sold 102,000 shares of the business’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $94.96, for a total value of $9,685,920.00. Following the sale, the director now directly owns 6,232 shares in the company, valued at $591,790.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO David Schneider sold 2,243 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $97.04, for a total value of $217,660.72. Following the completion of the sale, the executive now owns 47,654 shares in the company, valued at $4,624,344.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 581,673 shares of company stock worth $61,196,746. Corporate insiders own 3.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of ServiceNow by 8.1% in the first quarter. Vanguard Group Inc. now owns 13,244,656 shares of the information technology services provider’s stock valued at $1,158,511,000 after buying an additional 994,461 shares during the period. FMR LLC boosted its position in shares of ServiceNow by 91.1% in the first quarter. FMR LLC now owns 3,280,069 shares of the information technology services provider’s stock valued at $286,908,000 after buying an additional 1,563,778 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of ServiceNow by 12.8% in the first quarter. TIAA CREF Investment Management LLC now owns 2,243,355 shares of the information technology services provider’s stock valued at $196,226,000 after buying an additional 254,144 shares during the period. Jennison Associates LLC boosted its position in shares of ServiceNow by 2.7% in the first quarter. Jennison Associates LLC now owns 1,257,996 shares of the information technology services provider’s stock valued at $110,037,000 after buying an additional 33,300 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of ServiceNow by 770.6% in the first quarter. Renaissance Technologies LLC now owns 1,072,600 shares of the information technology services provider’s stock valued at $93,820,000 after buying an additional 949,400 shares during the period. Institutional investors own 97.50% 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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