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

ServiceNow Inc (NYSE:NOW) has been assigned a consensus rating of “Buy” from the thirty brokerages that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, twenty-five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $270.68.

Several research analysts recently weighed in on the stock. Needham & Company LLC upped their price objective on shares of Lam Research from $180.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Raymond James lowered Consolidated Communications to a “market perform” rating in a research note on Thursday, April 25th. Argus raised their price target on Thermo Fisher Scientific from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Canaccord Genuity increased their price objective on ServiceNow from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Barclays increased their price objective on T. Rowe Price Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a report on Thursday, April 25th.

Shares of NYSE:NOW traded down $4.94 during midday trading on Tuesday, reaching $289.74. The company had a trading volume of 1,394,835 shares, compared to its average volume of 1,352,127. The stock has a 50 day simple moving average of $281.81. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $53.75 billion, a PE ratio of 1,448.70, a P/E/G ratio of 21.37 and a beta of 1.32. ServiceNow has a 52-week low of $147.63 and a 52-week high of $303.17.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.10. ServiceNow had a negative net margin of 1.38% and a positive return on equity of 1.64%. The business had revenue of $788.93 million for the quarter, compared to the consensus estimate of $768.09 million. During the same period in the prior year, the firm earned $0.56 earnings per share. The company’s revenue was up 33.9% compared to the same quarter last year. On average, equities research analysts forecast that ServiceNow will post 0.48 earnings per share for the current fiscal year.

In other news, insider Michael Scarpelli sold 25,899 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $278.41, for a total value of $7,210,540.59. Following the completion of the sale, the insider now directly owns 37,071 shares of the company’s stock, valued at approximately $10,320,937.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patricia L. Wadors sold 1,559 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $263.61, for a total value of $410,967.99. Following the completion of the sale, the insider now directly owns 3,093 shares of the company’s stock, valued at $815,345.73. The disclosure for this sale can be found here. Insiders sold 117,322 shares of company stock valued at $32,358,114 over the last ninety days. Insiders own 1.00% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Jennison Associates LLC grew its holdings in shares of ServiceNow by 26.2% in the 1st quarter. Jennison Associates LLC now owns 3,036,568 shares of the information technology services provider’s stock worth $748,484,000 after acquiring an additional 630,491 shares during the period. Coatue Management LLC increased its holdings in shares of ServiceNow by 38.6% during the 4th quarter. Coatue Management LLC now owns 2,129,852 shares of the information technology services provider’s stock worth $379,220,000 after buying an additional 592,759 shares during the last quarter. American Century Companies Inc. increased its holdings in ServiceNow by 14.6% in the 4th quarter. American Century Companies Inc. now owns 1,772,188 shares of the information technology services provider’s stock valued at $315,538,000 after purchasing an additional 226,028 shares in the last quarter. Norges Bank acquired a new stake in ServiceNow in the 4th quarter valued at $297,403,000. Finally, Geode Capital Management LLC increased its holdings in ServiceNow by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 1,536,350 shares of the information technology services provider’s stock valued at $273,336,000 after purchasing an additional 55,767 shares in the last quarter. Hedge funds and other institutional investors own 93.17% 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 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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Analyst Recommendations for ServiceNow (NYSE:NOW)

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