ServiceNow, Inc. (NYSE:NOW) was downgraded by stock analysts at OTR Global to a “positive” rating in a report issued on Friday, July 14th, The Fly reports.
A number of other analysts also recently weighed in on the company. Zacks Investment Research upgraded ServiceNow from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Sanford C. Bernstein restated an “outperform” rating and issued a $141.00 target price on shares of ServiceNow in a research report on Wednesday, June 28th. BidaskClub raised ServiceNow from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. J P Morgan Chase & Co began coverage on ServiceNow in a research note on Friday, June 23rd. They issued an “overweight” rating and a $125.00 price target on the stock. Finally, Seaport Global Securities cut ServiceNow from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 21st. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company. ServiceNow currently has an average rating of “Buy” and an average target price of $115.96.
ServiceNow (NOW) opened at 106.05 on Friday. ServiceNow has a 52 week low of $71.25 and a 52 week high of $115.85. The firm’s market cap is $18.10 billion. The stock’s 50 day moving average is $108.29 and its 200 day moving average is $97.03.
ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. The company had revenue of $471.70 million during the quarter, compared to the consensus estimate of $462.11 million. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. ServiceNow’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS. Equities research analysts expect that ServiceNow will post $1.17 EPS for the current year.
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In related news, Director Frederic B. Luddy sold 102,000 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $110.09, for a total transaction of $11,229,180.00. Following the completion of the sale, the director now owns 11,190 shares in the company, valued at $1,231,907.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO David Schneider sold 6,430 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $99.50, for a total value of $639,785.00. Following the sale, the executive now owns 33,466 shares of the company’s stock, valued at approximately $3,329,867. The disclosure for this sale can be found here. In the last 90 days, insiders sold 763,177 shares of company stock valued at $82,424,382. Company insiders own 3.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in NOW. Evercore Wealth Management LLC raised its position in shares of ServiceNow by 6,946.9% in the second quarter. Evercore Wealth Management LLC now owns 2,255 shares of the information technology services provider’s stock worth $239,000 after buying an additional 2,223 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of ServiceNow by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 158,144 shares of the information technology services provider’s stock worth $16,764,000 after buying an additional 4,803 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of ServiceNow by 59.2% in the second quarter. Renaissance Technologies LLC now owns 1,708,100 shares of the information technology services provider’s stock worth $181,059,000 after buying an additional 635,500 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of ServiceNow by 2.8% in the second quarter. Parametric Portfolio Associates LLC now owns 136,932 shares of the information technology services provider’s stock worth $14,515,000 after buying an additional 3,689 shares during the last quarter. Finally, Suntrust Banks Inc. raised its position in shares of ServiceNow by 10.0% in the second quarter. Suntrust Banks Inc. now owns 20,097 shares of the information technology services provider’s stock worth $2,129,000 after buying an additional 1,820 shares during the last quarter. 97.53% of the stock is owned by institutional investors.
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.
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