Investors purchased shares of ServiceNow Inc (NYSE:NOW) on weakness during trading on Wednesday. $87.07 million flowed into the stock on the tick-up and $57.92 million flowed out of the stock on the tick-down, for a money net flow of $29.15 million into the stock. Of all equities tracked, ServiceNow had the 17th highest net in-flow for the day. ServiceNow traded down ($1.90) for the day and closed at $195.71

NOW has been the topic of several recent research reports. Barclays lifted their target price on shares of ServiceNow from $198.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, September 7th. Deutsche Bank boosted their price target on shares of ServiceNow to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 31st. Argus boosted their price target on shares of ServiceNow to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, August 15th. They noted that the move was a valuation call. Deutsche Bank boosted their price target on shares of ServiceNow from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 31st. Finally, Zacks Investment Research downgraded shares of ServiceNow from a “hold” rating to a “strong sell” rating in a research report on Monday, July 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. ServiceNow currently has a consensus rating of “Buy” and an average target price of $200.04.

The company has a market cap of $34.36 billion, a price-to-earnings ratio of -188.09, a price-to-earnings-growth ratio of 45.85 and a beta of 1.25. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.72.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.06. The company had revenue of $631.05 million during the quarter, compared to analyst estimates of $616.68 million. ServiceNow had a negative net margin of 4.16% and a negative return on equity of 7.48%. ServiceNow’s revenue for the quarter was up 40.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. equities analysts expect that ServiceNow Inc will post 0.16 earnings per share for the current year.

In other news, Director Ronald E. F. Codd sold 39,506 shares of ServiceNow stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $185.88, for a total value of $7,343,375.28. Following the completion of the sale, the director now owns 53,428 shares in the company, valued at approximately $9,931,196.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chirantan Jitendra Desai sold 2,031 shares of ServiceNow stock in a transaction on Thursday, July 12th. The shares were sold at an average price of $188.83, for a total transaction of $383,513.73. Following the completion of the sale, the insider now owns 2,534 shares of the company’s stock, valued at approximately $478,495.22. The disclosure for this sale can be found here. Insiders sold a total of 190,350 shares of company stock valued at $35,612,720 in the last quarter. 1.60% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its stake in ServiceNow by 44.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,652,619 shares of the information technology services provider’s stock valued at $285,058,000 after purchasing an additional 507,435 shares in the last quarter. OppenheimerFunds Inc. increased its stake in ServiceNow by 401.7% during the 1st quarter. OppenheimerFunds Inc. now owns 1,439,564 shares of the information technology services provider’s stock valued at $238,176,000 after purchasing an additional 1,152,623 shares in the last quarter. Northern Trust Corp increased its stake in ServiceNow by 1.0% during the 2nd quarter. Northern Trust Corp now owns 990,521 shares of the information technology services provider’s stock valued at $170,835,000 after purchasing an additional 9,950 shares in the last quarter. Bessemer Group Inc. increased its stake in ServiceNow by 49.5% during the 2nd quarter. Bessemer Group Inc. now owns 827,954 shares of the information technology services provider’s stock valued at $142,796,000 after purchasing an additional 274,242 shares in the last quarter. Finally, Millennium Management LLC increased its stake in ServiceNow by 355.8% during the 1st quarter. Millennium Management LLC now owns 696,135 shares of the information technology services provider’s stock valued at $115,176,000 after purchasing an additional 543,392 shares in the last quarter. Institutional investors own 95.79% of the company’s stock.

ServiceNow Company Profile (NYSE:NOW)

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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