ServiceNow, Inc. (NYSE:NOW) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of ServiceNow, Inc. (NYSE:NOWGet Rating) have received a consensus recommendation of “Moderate Buy” from the thirty-five ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and twenty-two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $598.84.

NOW has been the topic of a number of recent research reports. Guggenheim initiated coverage on shares of ServiceNow in a report on Friday, August 12th. They issued a “neutral” rating and a $510.00 target price on the stock. Jefferies Financial Group cut their target price on shares of ServiceNow from $700.00 to $550.00 in a report on Monday, May 23rd. Stifel Nicolaus cut their price target on ServiceNow from $650.00 to $550.00 in a report on Wednesday, May 25th. Citigroup cut their price target on ServiceNow from $600.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Finally, Sanford C. Bernstein began coverage on ServiceNow in a report on Tuesday, July 19th. They set an “outperform” rating and a $646.00 price target on the stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $444.16 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow has a one year low of $406.47 and a one year high of $707.60. The company’s 50-day simple moving average is $462.81 and its 200-day simple moving average is $488.75. The stock has a market capitalization of $89.72 billion, a price-to-earnings ratio of 488.09, a PEG ratio of 8.84 and a beta of 0.94.

ServiceNow (NYSE:NOWGet Rating) last issued its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. ServiceNow had a net margin of 2.79% and a return on equity of 7.22%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the company posted $0.38 earnings per share. ServiceNow’s revenue was up 24.3% on a year-over-year basis. Equities analysts anticipate that ServiceNow will post 1.72 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of the sale, the director now owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $497.01, for a total value of $3,280,266.00. Following the completion of the sale, the director now owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 4,812 shares of ServiceNow stock in a transaction on Monday, August 1st. The stock was sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the completion of the transaction, the general counsel now owns 9,293 shares in the company, valued at approximately $4,079,534.07. The disclosure for this sale can be found here. Insiders sold 30,256 shares of company stock valued at $14,019,372 in the last quarter. Company insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NOW. HighTower Advisors LLC increased its holdings in shares of ServiceNow by 10.7% during the 4th quarter. HighTower Advisors LLC now owns 56,481 shares of the information technology services provider’s stock worth $36,639,000 after purchasing an additional 5,438 shares during the period. Dowling & Yahnke LLC increased its holdings in shares of ServiceNow by 18.3% during the 4th quarter. Dowling & Yahnke LLC now owns 2,297 shares of the information technology services provider’s stock worth $1,491,000 after purchasing an additional 356 shares during the period. Paradigm Financial Partners LLC increased its stake in ServiceNow by 616.9% in the fourth quarter. Paradigm Financial Partners LLC now owns 6,545 shares of the information technology services provider’s stock valued at $3,786,000 after acquiring an additional 5,632 shares during the period. Acadian Asset Management LLC increased its stake in ServiceNow by 114.5% in the fourth quarter. Acadian Asset Management LLC now owns 8,490 shares of the information technology services provider’s stock valued at $5,508,000 after acquiring an additional 4,532 shares during the period. Finally, Rafferty Asset Management LLC increased its stake in ServiceNow by 14.8% in the fourth quarter. Rafferty Asset Management LLC now owns 43,544 shares of the information technology services provider’s stock valued at $28,265,000 after acquiring an additional 5,611 shares during the period. Institutional investors own 87.49% of the company’s stock.

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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