Analysts Set ServiceNow Inc (NOW) Price Target at $203.04

Shares of ServiceNow Inc (NYSE:NOW) have been given a consensus recommendation of “Buy” by the thirty research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, twenty-four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $203.04.

NOW has been the subject of a number of research reports. Citigroup raised their price objective on shares of ServiceNow to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 3rd. Barclays raised their price objective on shares of ServiceNow from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Thursday, July 12th. Piper Jaffray Companies reissued an “overweight” rating and set a $210.00 target price on shares of ServiceNow in a research report on Friday, July 20th. Bank of America increased their target price on shares of ServiceNow from $203.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Finally, BMO Capital Markets increased their target price on shares of ServiceNow from $177.00 to $205.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th.

In other news, insider Chirantan Jitendra Desai sold 2,031 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $187.01, for a total transaction of $379,817.31. Following the completion of the sale, the insider now owns 2,534 shares of the company’s stock, valued at approximately $473,883.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronald E. F. Codd sold 39,506 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $185.88, for a total transaction of $7,343,375.28. Following the sale, the director now directly owns 53,428 shares of the company’s stock, valued at approximately $9,931,196.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 190,350 shares of company stock valued at $35,102,979. Insiders own 1.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in NOW. Alpha Windward LLC bought a new position in shares of ServiceNow in the 2nd quarter worth $102,000. Chevy Chase Trust Holdings Inc. bought a new position in shares of ServiceNow in the 2nd quarter worth $204,000. Allianz Life Insurance Co. of North America bought a new position in shares of ServiceNow in the 2nd quarter worth $205,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ServiceNow by 33.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,228 shares of the information technology services provider’s stock worth $212,000 after purchasing an additional 305 shares in the last quarter. Finally, Strategic Advisors LLC bought a new position in shares of ServiceNow in the 3rd quarter worth $217,000. 95.58% of the stock is owned by institutional investors.

NYSE NOW traded down $5.78 during trading hours on Friday, reaching $179.40. The company’s stock had a trading volume of 39,359 shares, compared to its average volume of 2,237,456. The firm has a market cap of $33.86 billion, a PE ratio of -177.75, a price-to-earnings-growth ratio of 44.80 and a beta of 1.23. ServiceNow has a 52 week low of $112.84 and a 52 week high of $206.29. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.28.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $631.05 million during the quarter, compared to analyst estimates of $616.68 million. ServiceNow had a negative net margin of 4.16% and a negative return on equity of 7.48%. The firm’s quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter last year, the business earned $0.22 EPS. As a group, research analysts anticipate that ServiceNow will post 0.16 earnings per share for the current fiscal year.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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Analyst Recommendations for ServiceNow (NYSE:NOW)

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