UBS AG Boosts ServiceNow, Inc. (NOW) Price Target to $168.00

ServiceNow, Inc. (NYSE:NOW) had its price target upped by UBS AG from $128.00 to $168.00 in a research report report published on Thursday, www.benzinga.com reports. They currently have a buy rating on the information technology services provider’s stock.

Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded ServiceNow from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Citigroup Inc. reissued a buy rating and issued a $135.00 price target (up from $109.00) on shares of ServiceNow in a report on Saturday, July 22nd. Canaccord Genuity reissued a buy rating and issued a $130.00 price target (up from $110.00) on shares of ServiceNow in a report on Thursday, July 27th. Guggenheim reissued a buy rating and issued a $120.00 price target (up from $108.00) on shares of ServiceNow in a report on Thursday, July 27th. Finally, Robert W. Baird reissued a buy rating and issued a $120.00 price target on shares of ServiceNow in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have assigned a buy rating and three have given a strong buy rating to the company’s stock. ServiceNow has an average rating of Buy and a consensus price target of $130.50.

ServiceNow (NYSE:NOW) traded up $0.43 on Thursday, reaching $125.98. The company’s stock had a trading volume of 958,400 shares, compared to its average volume of 1,542,959. ServiceNow has a 52 week low of $72.80 and a 52 week high of $129.56. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.73 and a current ratio of 1.66.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.06. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The company had revenue of $498.20 million for the quarter, compared to analyst estimates of $491.62 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 39.3% compared to the same quarter last year. sell-side analysts predict that ServiceNow will post -0.35 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece of content was published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of US & international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.chaffeybreeze.com/2017/11/12/ubs-ag-boosts-servicenow-inc-now-price-target-to-168-00.html.

In related news, Director Frederic B. Luddy sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $120.51, for a total transaction of $12,051,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $125.96, for a total value of $18,894,000.00. Following the transaction, the director now owns 216,535 shares in the company, valued at approximately $27,274,748.60. The disclosure for this sale can be found here. Insiders have sold a total of 1,038,849 shares of company stock worth $121,440,605 in the last 90 days. 3.30% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of NOW. Cornerstone Advisors Inc. lifted its position in ServiceNow by 29.2% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock worth $115,000 after acquiring an additional 245 shares during the period. Barrett Asset Management LLC acquired a new stake in ServiceNow during the 2nd quarter worth approximately $117,000. SeaBridge Investment Advisors LLC acquired a new stake in ServiceNow during the 3rd quarter worth approximately $118,000. Rockefeller Financial Services Inc. acquired a new stake in ServiceNow during the 3rd quarter worth approximately $138,000. Finally, Crow Point Partners LLC lifted its position in ServiceNow by 8.8% during the 2nd quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock worth $140,000 after acquiring an additional 107 shares during the period.

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.

Analyst Recommendations for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply