ServiceNow, Inc. (NYSE:NOW) Receives Average Rating of “Buy” from Analysts

ServiceNow, Inc. (NYSE:NOW – Get Rating) has been assigned a consensus recommendation of “Buy” from the thirty-five research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and eighteen have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $667.97.

Several equities research analysts have recently issued reports on NOW shares. Cowen lowered their price objective on ServiceNow from $725.00 to $695.00 in a research note on Thursday, April 28th. KeyCorp lowered their price objective on ServiceNow from $692.00 to $613.00 and set an “overweight” rating for the company in a research note on Monday, April 25th. Barclays lowered their price objective on ServiceNow from $652.00 to $613.00 in a research note on Thursday, April 28th. Oppenheimer lowered their price objective on ServiceNow from $660.00 to $600.00 in a research note on Thursday, April 28th. Finally, Jefferies Financial Group lowered their price objective on ServiceNow from $765.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, January 27th.

In other news, General Counsel Russell S. Elmer sold 2,092 shares of ServiceNow stock in a transaction on Monday, February 7th. The stock was sold at an average price of $577.99, for a total value of $1,209,155.08. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Teresa Briggs sold 932 shares of ServiceNow stock in a transaction on Friday, April 29th. The shares were sold at an average price of $490.26, for a total value of $456,922.32. Following the completion of the transaction, the director now owns 707 shares in the company, valued at $346,613.82. The disclosure for this sale can be found here. Insiders sold a total of 32,868 shares of company stock worth $18,684,741 over the last quarter. Company insiders own 0.35% of the company’s stock.

Several institutional investors have recently bought and sold shares of NOW. Morgan Stanley boosted its position in shares of ServiceNow by 1.2% in the 2nd quarter. Morgan Stanley now owns 7,277,395 shares of the information technology services provider’s stock worth $3,999,292,000 after purchasing an additional 86,441 shares in the last quarter. New World Advisors LLC acquired a new stake in shares of ServiceNow in the 3rd quarter worth $350,000. PFG Advisors acquired a new stake in shares of ServiceNow in the 3rd quarter worth $210,000. Congress Asset Management Co. MA acquired a new stake in shares of ServiceNow in the 3rd quarter worth $1,696,000. Finally, Avalon Investment & Advisory lifted its position in ServiceNow by 14.4% during the 3rd quarter. Avalon Investment & Advisory now owns 4,150 shares of the information technology services provider’s stock worth $2,582,000 after acquiring an additional 522 shares during the period. 87.20% of the stock is owned by hedge funds and other institutional investors.

Shares of ServiceNow stock opened at $469.33 on Friday. The stock has a 50 day moving average of $531.18 and a 200 day moving average of $588.08. ServiceNow has a 12 month low of $448.27 and a 12 month high of $707.60. The firm has a market cap of $94.08 billion, a PE ratio of 426.66, a PEG ratio of 9.48 and a beta of 1.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37.

ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The information technology services provider reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. As a group, equities research analysts forecast that ServiceNow will post 1.8 earnings per share for the current fiscal year.

About ServiceNow (Get Rating)

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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