ServiceNow Inc. (NOW) Sees Large Volume Increase
Shares of ServiceNow Inc. (NYSE:NOW) saw an uptick in trading volume on Monday . 1,989,200 shares traded hands during trading, an increase of 90% from the previous session’s volume of 1,048,161 shares.The stock last traded at $76.24 and had previously closed at $74.00.
Several research firms have commented on NOW. Pacific Crest reiterated a “buy” rating on shares of ServiceNow in a research report on Sunday, May 22nd. Mizuho upgraded shares of ServiceNow from a “neutral” rating to a “buy” rating and increased their price objective for the company from $70.00 to $85.00 in a research report on Friday, July 15th. MKM Partners raised their target price on shares of ServiceNow from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, July 28th. Piper Jaffray Cos. restated an “overweight” rating and issued a $90.00 target price on shares of ServiceNow in a report on Friday, July 15th. Finally, Vetr upgraded shares of ServiceNow from a “buy” rating to a “strong-buy” rating and set a $83.80 target price for the company in a report on Monday, June 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $84.22.
The firm’s market capitalization is $12.54 billion. The company’s 50 day moving average is $73.69 and its 200 day moving average is $67.98.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.05. The business had revenue of $341.30 million for the quarter, compared to analyst estimates of $334.07 million. During the same period in the prior year, the company posted $0.05 EPS. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. On average, equities analysts predict that ServiceNow Inc. will post $0.65 earnings per share for the current year.
In other news, CRO David Schneider sold 12,500 shares of the stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $74.35, for a total transaction of $929,375.00. Following the sale, the executive now owns 20,652 shares of the company’s stock, valued at $1,535,476.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Daniel Mcgee sold 27,814 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $74.72, for a total transaction of $2,078,262.08. The disclosure for this sale can be found here.
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.