ServiceNow (NOW) Coverage Initiated by Analysts at Atlantic Securities

Atlantic Securities began coverage on shares of ServiceNow (NYSE:NOW) in a report published on Wednesday morning, MarketBeat reports. The brokerage issued a neutral rating and a $199.00 price objective on the information technology services provider’s stock.

A number of other brokerages have also recently commented on NOW. Jefferies Financial Group assumed coverage on ServiceNow in a research note on Monday, October 1st. They issued a buy rating and a $240.00 price target on the stock. ValuEngine raised ServiceNow from a buy rating to a strong-buy rating in a research note on Saturday, December 1st. Macquarie set a $210.00 price target on ServiceNow and gave the stock a buy rating in a research note on Friday, October 12th. Morgan Stanley decreased their price target on ServiceNow from $198.00 to $188.00 and set an overweight rating on the stock in a research note on Tuesday, October 23rd. Finally, Needham & Company LLC started coverage on ServiceNow in a research note on Monday, October 22nd. They issued a buy rating and a $224.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $204.89.

Shares of ServiceNow stock opened at $191.69 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $34.15 billion, a price-to-earnings ratio of -182.56, a P/E/G ratio of 11.45 and a beta of 1.17. ServiceNow has a one year low of $137.08 and a one year high of $206.29.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 24th. The information technology services provider reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.61. The business had revenue of $673.10 million for the quarter, compared to analysts’ expectations of $659.41 million. ServiceNow had a negative return on equity of 2.93% and a negative net margin of 2.52%. As a group, equities analysts expect that ServiceNow will post 0.17 EPS for the current fiscal year.

In other ServiceNow news, insider Chirantan Jitendra Desai sold 2,031 shares of ServiceNow stock in a transaction on Monday, November 12th. The stock was sold at an average price of $175.20, for a total transaction of $355,831.20. Following the completion of the transaction, the insider now owns 7,174 shares in the company, valued at $1,256,884.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald E. F. Codd sold 12,030 shares of ServiceNow stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $170.90, for a total value of $2,055,927.00. Following the transaction, the director now owns 35,458 shares of the company’s stock, valued at approximately $6,059,772.20. The disclosure for this sale can be found here. Insiders have sold 178,187 shares of company stock worth $30,520,157 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. First Hawaiian Bank raised its stake in ServiceNow by 4.4% during the fourth quarter. First Hawaiian Bank now owns 2,140 shares of the information technology services provider’s stock valued at $381,000 after buying an additional 90 shares during the last quarter. First American Trust FSB raised its stake in ServiceNow by 1.2% during the fourth quarter. First American Trust FSB now owns 11,047 shares of the information technology services provider’s stock valued at $1,967,000 after buying an additional 126 shares during the last quarter. North Star Investment Management Corp. purchased a new position in ServiceNow during the fourth quarter valued at $31,000. Oregon Public Employees Retirement Fund raised its stake in ServiceNow by 1.0% during the third quarter. Oregon Public Employees Retirement Fund now owns 32,040 shares of the information technology services provider’s stock valued at $6,268,000 after buying an additional 320 shares during the last quarter. Finally, Capital Bank & Trust Co raised its stake in ServiceNow by 1.0% during the third quarter. Capital Bank & Trust Co now owns 32,643 shares of the information technology services provider’s stock valued at $6,386,000 after buying an additional 321 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.

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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