ServiceNow Inc. (NOW) Trading 3.3% Higher
Shares of ServiceNow Inc. (NYSE:NOW) traded up 3.3% during mid-day trading on Friday . The stock traded as high as $76.86 and last traded at $76.44, with a volume of 965,329 shares traded. The stock had previously closed at $74.00.
Several analysts have recently issued reports on the stock. Pacific Crest reissued a “buy” rating on shares of ServiceNow in a research report on Sunday, May 22nd. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $90.00 target price on shares of ServiceNow in a report on Thursday, July 28th. Zacks Investment Research raised shares of ServiceNow from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Wednesday, August 3rd. OTR Global raised shares of ServiceNow to a “positive” rating in a report on Wednesday, July 13th. Finally, Citigroup Inc. raised their target price on shares of ServiceNow from $77.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $84.22.
The stock’s market capitalization is $12.54 billion. The stock has a 50-day moving average of $73.69 and a 200-day moving average of $67.98.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.05. During the same period in the prior year, the company posted $0.05 earnings per share. The firm had revenue of $341.30 million for the quarter, compared to analyst estimates of $334.07 million. The business’s revenue was up 38.3% on a year-over-year basis. On average, analysts forecast that ServiceNow Inc. will post $0.65 earnings per share for the current fiscal year.
In related news, Director William L. Strauss sold 5,000 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $74.54, for a total transaction of $372,700.00. Following the completion of the transaction, the director now directly owns 10,061 shares in the company, valued at approximately $749,946.94. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Daniel Mcgee sold 27,814 shares of the company’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $74.72, for a total value 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.
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