ServiceNow Inc. (NOW) Shares Down 1.7%
ServiceNow Inc. (NYSE:NOW) shares fell 1.7% on Monday . The company traded as low as $69.68 and last traded at $69.78, with a volume of 642,331 shares changing hands. The stock had previously closed at $71.02.
A number of brokerages recently weighed in on NOW. Vetr upgraded ServiceNow from a “buy” rating to a “strong-buy” rating and set a $90.24 target price on the stock in a report on Monday. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $90.00 target price on shares of ServiceNow in a research report on Friday. Mizuho raised ServiceNow from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $70.00 to $85.00 in a research report on Friday. OTR Global raised ServiceNow to a “positive” rating in a research report on Wednesday, July 13th. Finally, Cowen and Company started coverage on ServiceNow in a research report on Friday, June 24th. They set an “outperform” rating and a $95.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. ServiceNow has a consensus rating of “Buy” and an average price target of $82.72.
The company has a 50 day moving average of $70.94 and a 200 day moving average of $66.62. The stock’s market cap is $11.37 billion.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 20th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. During the same period last year, the company earned $0.02 EPS. The business earned $305.90 million during the quarter, compared to analyst estimates of $300.87 million. The business’s revenue for the quarter was up 44.3% on a year-over-year basis. Equities analysts expect that ServiceNow Inc. will post $0.63 EPS for the current year.
In other ServiceNow news, CRO David Schneider sold 5,000 shares of the company’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $69.26, for a total transaction of $346,300.00. Following the sale, the executive now directly owns 25,652 shares of the company’s stock, valued at $1,776,657.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Daniel Mcgee sold 18,829 shares of the company’s stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $75.00, for a total transaction of $1,412,175.00. Following the sale, the chief operating officer now directly owns 35,711 shares in the company, valued at $2,678,325. The disclosure for this sale can be found here.
Other hedge funds recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in ServiceNow by 7.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 123,308 shares of the company’s stock valued at $10,675,000 after buying an additional 8,900 shares during the period. Advisors Asset Management Inc. raised its stake in shares of ServiceNow by 963.6% in the fourth quarter. Advisors Asset Management Inc. now owns 31,109 shares of the company’s stock valued at $2,693,000 after buying an additional 28,184 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of ServiceNow by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 10,429,936 shares of the company’s stock valued at $902,815,000 after buying an additional 556,803 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of ServiceNow by 53.7% in the fourth quarter. California Public Employees Retirement System now owns 105,900 shares of the company’s stock valued at $9,167,000 after buying an additional 37,000 shares during the last quarter. Finally, Financial Counselors Inc. raised its stake in shares of ServiceNow by 1.4% in the fourth quarter. Financial Counselors Inc. now owns 20,906 shares of the company’s stock valued at $1,810,000 after buying an additional 287 shares during the last quarter.
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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