ServiceNow Inc. (NYSE:NOW) Receives $85.19 Consensus Target Price from Analysts
ServiceNow Inc. (NYSE:NOW) has been assigned an average recommendation of “Buy” from the thirty-three brokerages that are currently covering the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $85.19.
Several equities research analysts recently weighed in on the company. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $90.00 price target on shares of ServiceNow in a report on Thursday, July 28th. Zacks Investment Research raised ServiceNow from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a report on Wednesday, August 3rd. OTR Global raised ServiceNow to a “positive” rating in a report on Wednesday, July 13th. Citigroup Inc. increased their price target on ServiceNow from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, July 20th. Finally, MKM Partners raised their target price on ServiceNow from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, July 28th.
In related news, CRO David Schneider sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $69.26, for a total transaction of $346,300.00. Following the transaction, the executive now directly owns 25,652 shares of the company’s stock, valued at approximately $1,776,657.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Daniel Mcgee sold 14,191 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $80.00, for a total value of $1,135,280.00. Following the transaction, the chief operating officer now directly owns 5,321 shares in the company, valued at $425,680. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Mizuho Asset Management Co. Ltd. raised its position in shares of ServiceNow by 162.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock worth $151,000 after buying an additional 1,406 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of ServiceNow by 343.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,379 shares of the company’s stock worth $158,000 after buying an additional 1,843 shares during the last quarter. BlueMountain Capital Management LLC acquired a new position in shares of ServiceNow during the second quarter worth about $177,000. Parametrica Management Ltd acquired a new position in shares of ServiceNow during the first quarter worth about $201,000. Finally, Capstone Asset Management Co. acquired a new position in shares of ServiceNow during the second quarter worth about $231,000. 95.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ServiceNow (NYSE:NOW) opened at 79.15 on Thursday. ServiceNow has a 12-month low of $46.00 and a 12-month high of $91.28. The stock’s market cap is $13.02 billion. The stock’s 50 day moving average is $75.28 and its 200-day moving average is $70.72.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm earned $341.30 million during the quarter, compared to the consensus estimate of $334.07 million. During the same period last year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was up 38.3% on a year-over-year basis. Equities analysts anticipate that ServiceNow will post $0.66 EPS for the current fiscal year.
ServiceNow Company Profile
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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