BMO Capital Markets reissued their outperform rating on shares of ServiceNow (NYSE:NOW) in a research report released on Thursday morning, Briefing.com Automated Import reports. The brokerage currently has a $315.00 price target on the information technology services provider’s stock, up from their prior price target of $295.00.
NOW has been the subject of several other research reports. Deutsche Bank set a €230.00 ($267.44) target price on shares of adidas and gave the company a neutral rating in a report on Tuesday, May 7th. ValuEngine cut shares of Intersect ENT from a buy rating to a hold rating in a report on Monday, June 3rd. Royal Bank of Canada lowered their target price on shares of West Fraser Timber from C$77.00 to C$75.00 and set an outperform rating for the company in a report on Monday. Wells Fargo & Co upgraded shares of California Water Service Group to a market perform rating in a report on Thursday, April 25th. Finally, Barclays upped their target price on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the company an underweight rating in a report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $287.86.
Shares of NYSE:NOW traded up $4.01 during trading hours on Thursday, reaching $289.75. The stock had a trading volume of 1,359,127 shares, compared to its average volume of 1,434,482. ServiceNow has a 1 year low of $147.63 and a 1 year high of $303.17. The business’s 50 day moving average is $285.56. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.88. The stock has a market cap of $53.35 billion, a PE ratio of 1,448.73, a price-to-earnings-growth ratio of 21.92 and a beta of 1.32.
ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02. ServiceNow had a net margin of 0.09% and a return on equity of 4.44%. The company had revenue of $833.90 million for the quarter, compared to the consensus estimate of $831.50 million. During the same period in the prior year, the firm posted $0.49 EPS. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. Equities research analysts anticipate that ServiceNow will post 0.48 earnings per share for the current fiscal year.
In related news, Director Anita M. Sands sold 1,770 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $268.60, for a total transaction of $475,422.00. Following the completion of the sale, the director now owns 10,784 shares in the company, valued at approximately $2,896,582.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Schneider sold 2,446 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $268.50, for a total transaction of $656,751.00. Following the sale, the insider now owns 44,259 shares of the company’s stock, valued at approximately $11,883,541.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 117,322 shares of company stock valued at $32,554,009. 1.00% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Wetherby Asset Management Inc. raised its position in ServiceNow by 10.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 2,734 shares of the information technology services provider’s stock worth $751,000 after buying an additional 257 shares during the last quarter. Trustcore Financial Services LLC raised its position in ServiceNow by 5,742.9% during the 2nd quarter. Trustcore Financial Services LLC now owns 409 shares of the information technology services provider’s stock worth $112,000 after buying an additional 402 shares during the last quarter. Manning & Napier Group LLC raised its position in ServiceNow by 34.2% during the 2nd quarter. Manning & Napier Group LLC now owns 620,290 shares of the information technology services provider’s stock worth $170,311,000 after buying an additional 157,939 shares during the last quarter. Quadrant Capital Group LLC raised its position in ServiceNow by 48.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 935 shares of the information technology services provider’s stock worth $246,000 after buying an additional 306 shares during the last quarter. Finally, BB&T Corp purchased a new position in ServiceNow during the 2nd quarter worth $231,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.
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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