OTR Global Lowers ServiceNow Inc. (NOW) to Positive
Other analysts also recently issued reports about the stock. Cowen and Company assumed coverage on shares of ServiceNow in a research note on Friday, June 24th. They set an outperform rating and a $95.00 target price on the stock. Vetr raised shares of ServiceNow from a buy rating to a strong-buy rating and set a $90.24 target price on the stock in a research note on Monday, July 18th. Oppenheimer Holdings Inc. assumed coverage on shares of ServiceNow in a research note on Thursday, June 16th. They set a market perform rating on the stock. Morgan Stanley boosted their target price on shares of ServiceNow from $76.00 to $82.00 and gave the company an overweight rating in a research note on Thursday, July 28th. Finally, Piper Jaffray Cos. reissued an overweight rating and set a $90.00 target price on shares of ServiceNow in a research note on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company’s stock. ServiceNow currently has an average rating of Buy and an average price target of $84.47.
ServiceNow (NYSE:NOW) opened at 75.6842 on Wednesday. The firm’s market cap is $12.45 billion. ServiceNow has a 52 week low of $46.00 and a 52 week high of $91.28. The firm’s 50 day moving average price is $76.51 and its 200-day moving average price is $71.83.
ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. ServiceNow had a negative return on equity of 36.56% and a negative net margin of 38.64%. The company earned $341.30 million during the quarter, compared to the consensus estimate of $334.07 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The company’s quarterly revenue was up 38.3% compared to the same quarter last year. On average, analysts forecast that ServiceNow will post $0.66 EPS for the current year.
In other news, insider Frederic B. Luddy sold 199,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $76.68, for a total transaction of $15,259,320.00. Following the completion of the sale, the insider now owns 1,587 shares of the company’s stock, valued at $121,691.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO David Schneider sold 3,627 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $75.00, for a total transaction of $272,025.00. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Aperio Group LLC raised its stake in ServiceNow by 16.3% in the first quarter. Aperio Group LLC now owns 23,072 shares of the company’s stock valued at $1,412,000 after buying an additional 3,237 shares during the last quarter. Ngam Advisors L.P. raised its stake in ServiceNow by 10.2% in the first quarter. Ngam Advisors L.P. now owns 14,129 shares of the company’s stock valued at $864,000 after buying an additional 1,306 shares during the last quarter. BlackRock Inc. raised its stake in ServiceNow by 8.5% in the first quarter. BlackRock Inc. now owns 122,189 shares of the company’s stock valued at $7,475,000 after buying an additional 9,526 shares during the last quarter. BlackRock Group LTD raised its stake in ServiceNow by 0.5% in the first quarter. BlackRock Group LTD now owns 922,881 shares of the company’s stock valued at $56,461,000 after buying an additional 4,842 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new stake in ServiceNow during the first quarter valued at $1,667,000. 95.70% of the stock is owned by institutional investors.
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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