ServiceNow (NYSE:NOW) Stock Rating Reaffirmed by BTIG Research

BTIG Research reaffirmed their buy rating on shares of ServiceNow (NYSE:NOW) in a research report sent to investors on Thursday, The Fly reports. BTIG Research currently has a $320.00 price target on the information technology services provider’s stock.

NOW has been the topic of a number of other research reports. Bank of America cut shares of TAL Education Group from a buy rating to a neutral rating in a research report on Thursday. JMP Securities decreased their target price on shares of Tesla from $374.00 to $369.00 and set a market outperform rating on the stock in a research report on Thursday, April 25th. BMO Capital Markets decreased their target price on shares of Lundin Mining from C$8.25 to C$8.00 in a research report on Thursday. Credit Suisse Group reiterated a buy rating and issued a $425.00 target price on shares of Boeing in a research report on Thursday. Finally, Canaccord Genuity lifted their target price on shares of Marathon Gold from C$1.80 to C$2.00 in a research report on Thursday. Four analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $287.86.

Shares of NYSE:NOW opened at $289.33 on Thursday. The stock has a market cap of $53.68 billion, a PE ratio of 1,446.65, a PEG ratio of 21.68 and a beta of 1.32. The stock has a fifty day simple moving average of $285.99. ServiceNow has a 52 week low of $147.63 and a 52 week high of $303.17. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $833.90 million for the quarter, compared to analysts’ expectations of $831.50 million. ServiceNow had a net margin of 0.09% and a return on equity of 4.44%. The firm’s revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 EPS. On average, equities research analysts predict that ServiceNow will post 0.47 EPS for the current fiscal year.

In other news, insider David Schneider sold 3,414 shares of ServiceNow stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $293.40, for a total transaction of $1,001,667.60. Following the sale, the insider now owns 40,937 shares of the company’s stock, valued at approximately $12,010,915.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita M. Sands sold 1,770 shares of ServiceNow stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $268.60, for a total transaction of $475,422.00. Following the sale, the director now directly owns 10,784 shares in the company, valued at approximately $2,896,582.40. The disclosure for this sale can be found here. In the last three months, insiders sold 117,322 shares of company stock worth $32,554,009. Insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Advisors Inc. boosted its stake in shares of ServiceNow by 3.6% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,212 shares of the information technology services provider’s stock valued at $333,000 after purchasing an additional 42 shares in the last quarter. Cigna Investments Inc. New boosted its stake in ServiceNow by 2.0% during the first quarter. Cigna Investments Inc. New now owns 2,652 shares of the information technology services provider’s stock worth $654,000 after acquiring an additional 53 shares in the last quarter. Sandy Spring Bank boosted its stake in ServiceNow by 118.0% during the first quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Allred Capital Management LLC boosted its stake in ServiceNow by 3.5% during the second quarter. Allred Capital Management LLC now owns 1,888 shares of the information technology services provider’s stock worth $543,000 after acquiring an additional 63 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in ServiceNow by 6.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,129 shares of the information technology services provider’s stock worth $278,000 after acquiring an additional 64 shares in the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

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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The Fly

Analyst Recommendations for ServiceNow (NYSE:NOW)

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