Shares of ServiceNow Inc (NYSE:NOW) have earned an average recommendation of “Buy” from the thirty-one ratings firms that are covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $433.85.

Several research firms have recently issued reports on NOW. Stifel Nicolaus raised their price target on ServiceNow from $450.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. SunTrust Banks raised their price objective on ServiceNow from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Canaccord Genuity lifted their target price on ServiceNow from $375.00 to $475.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. TheStreet upgraded ServiceNow from a “c+” rating to a “b” rating in a report on Thursday, June 11th. Finally, Wells Fargo & Company lifted their price target on ServiceNow from $405.00 to $525.00 in a report on Thursday, July 30th.

In other news, CRO Kevin Haverty sold 6,601 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $440.43, for a total transaction of $2,907,278.43. Following the transaction, the executive now owns 16,337 shares of the company’s stock, valued at approximately $7,195,304.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chirantan Jitendra Desai sold 1,562 shares of the company’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $425.00, for a total transaction of $663,850.00. Following the completion of the sale, the insider now owns 26,378 shares in the company, valued at approximately $11,210,650. The disclosure for this sale can be found here. Insiders have sold 101,529 shares of company stock worth $42,652,776 in the last ninety days. Insiders own 0.72% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of NOW. Hodges Capital Management Inc. purchased a new stake in ServiceNow in the 2nd quarter valued at about $763,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in ServiceNow by 43.9% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 82 shares of the information technology services provider’s stock valued at $33,000 after buying an additional 25 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new stake in ServiceNow in the 2nd quarter valued at about $41,000. WASHINGTON TRUST Co purchased a new stake in ServiceNow in the 2nd quarter valued at about $39,000. Finally, Rockbridge Investment Management LCC purchased a new stake in shares of ServiceNow during the 2nd quarter worth approximately $41,000. Institutional investors own 90.05% of the company’s stock.

ServiceNow stock opened at $473.96 on Friday. ServiceNow has a 12 month low of $213.99 and a 12 month high of $501.82. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $449.47 and a two-hundred day moving average price of $375.97. The stock has a market cap of $90.91 billion, a price-to-earnings ratio of 128.79, a price-to-earnings-growth ratio of 15.60 and a beta of 1.29.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 29th. The information technology services provider reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $1.03. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. ServiceNow had a return on equity of 11.09% and a net margin of 18.42%. The business’s revenue was up 28.4% on a year-over-year basis. During the same period last year, the firm posted $0.71 EPS. On average, analysts expect that ServiceNow will post 0.99 earnings per share for the current fiscal year.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Analyst Recommendations for ServiceNow (NYSE:NOW)

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