ServiceNow Inc. (NOW) Shares Down 1.7%
ServiceNow Inc. (NYSE:NOW) shares fell 1.7% during mid-day trading on Monday . The stock 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 analysts recently weighed in on NOW shares. Piper Jaffray Cos. started coverage on shares of ServiceNow in a research note on Saturday, April 2nd. They set a “buy” rating for the company. Canaccord Genuity restated a “buy” rating on shares of ServiceNow in a research report on Tuesday, May 31st. Pacific Crest restated a “buy” rating on shares of ServiceNow in a research report on Sunday, May 22nd. SunTrust Banks Inc. reiterated a “hold” rating on shares of ServiceNow in a report on Saturday, April 23rd. Finally, MKM Partners restated a “hold” rating on shares of ServiceNow in a report on Saturday, April 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. ServiceNow has an average rating of “Buy” and a consensus target price of $82.72.
The stock’s 50 day moving average price is $70.91 and its 200-day moving average price is $66.65. The stock’s market cap is $11.40 billion.
ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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 quarter in the previous year, the firm posted $0.02 EPS. The company had revenue of $305.90 million for the quarter, compared to analyst estimates of $300.87 million. ServiceNow’s quarterly revenue was up 44.3% on a year-over-year basis. Equities research analysts forecast that ServiceNow Inc. will post $0.63 EPS for the current fiscal year.
In other ServiceNow news, insider Frederic B. Luddy sold 195,000 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $76.01, for a total transaction of $14,821,950.00. Following the sale, the insider now owns 155,249 shares in the company, valued at approximately $11,800,476.49. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Daniel Mcgee sold 18,829 shares of the business’s stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $75.00, for a total value of $1,412,175.00. Following the sale, the chief operating officer now owns 35,711 shares in the company, valued at approximately $2,678,325. The disclosure for this sale can be found here.
A number of institutional investors have added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new position in ServiceNow during the fourth quarter valued at $1,408,000. Suntrust Banks Inc. acquired a new position in ServiceNow during the fourth quarter valued at $1,486,000. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in ServiceNow by 8.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 18,585 shares of the company’s stock valued at $1,609,000 after buying an additional 1,483 shares during the period. Financial Counselors Inc. boosted its position in 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 period. Finally, Henderson Group PLC boosted its position in ServiceNow by 55.3% in the fourth quarter. Henderson Group PLC now owns 21,425 shares of the company’s stock valued at $1,855,000 after buying an additional 7,632 shares during the period.
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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