ServiceNow, Inc. (NYSE:NOW)‘s stock had its “buy” rating restated by stock analysts at Citigroup Inc. in a research note issued on Saturday, July 22nd. They presently have a $135.00 price objective on the information technology services provider’s stock, up from their previous price objective of $109.00. Citigroup Inc.’s target price points to a potential upside of 25.90% from the company’s current price.

Several other brokerages also recently weighed in on NOW. Sanford C. Bernstein started coverage on shares of ServiceNow in a report on Wednesday, May 24th. They issued an “outperform” rating and a $120.00 target price for the company. Zacks Investment Research raised shares of ServiceNow from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. BMO Capital Markets upped their target price on shares of ServiceNow from $104.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, April 27th. Royal Bank Of Canada reiterated a “buy” rating and issued a $110.00 price target on shares of ServiceNow in a research note on Monday, May 29th. Finally, ValuEngine upgraded shares of ServiceNow from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company. ServiceNow has an average rating of “Buy” and a consensus target price of $115.96.

Shares of ServiceNow (NYSE:NOW) traded up 0.35% during trading on Friday, reaching $107.23. The company’s stock had a trading volume of 979,784 shares. ServiceNow has a one year low of $71.25 and a one year high of $115.85. The firm’s 50-day moving average price is $108.33 and its 200-day moving average price is $97.74. The company’s market capitalization is $18.31 billion.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. ServiceNow had a negative net margin of 10.17% and a negative return on equity of 29.05%. The firm had revenue of $471.70 million during the quarter, compared to the consensus estimate of $462.11 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. On average, equities analysts anticipate that ServiceNow will post $1.17 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “ServiceNow’s (NYSE:NOW) “Buy” Rating Reaffirmed at Citigroup Inc.” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/08/19/servicenow-inc-nysenow-earns-buy-rating-from-citigroup-inc-updated-updated-updated.html.

In other ServiceNow news, Director Frank Slootman sold 150,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $104.09, for a total value of $15,613,500.00. Following the transaction, the director now directly owns 356,287 shares in the company, valued at approximately $37,085,913.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 167,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $108.34, for a total transaction of $18,092,780.00. Following the completion of the transaction, the director now owns 11,190 shares in the company, valued at $1,212,324.60. The disclosure for this sale can be found here. Insiders have sold a total of 845,853 shares of company stock worth $91,396,366 over the last quarter. 3.30% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Cornerstone Advisors Inc. increased its position in shares of ServiceNow by 29.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock worth $115,000 after buying an additional 245 shares in the last quarter. Barrett Asset Management LLC acquired a new position in ServiceNow during the second quarter worth about $117,000. Global X Management Co. LLC increased its position in ServiceNow by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock worth $123,000 after buying an additional 330 shares in the last quarter. Hartford Financial Management Inc. acquired a new position in ServiceNow during the first quarter worth about $125,000. Finally, TLP Group LLC acquired a new position in ServiceNow during the first quarter worth about $131,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

ServiceNow Company Profile

ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.

Analyst Recommendations for ServiceNow (NYSE:NOW)

Receive News & Stock Ratings for ServiceNow Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow Inc. and related stocks with our FREE daily email newsletter.