BTIG Research Reiterates “Buy” Rating for ServiceNow (NYSE:NOW)

ServiceNow (NYSE:NOW)‘s stock had its “buy” rating reissued by investment analysts at BTIG Research in a research note issued to investors on Monday,Benzinga reports. They presently have a $150.00 price target on the information technology services provider’s stock. BTIG Research’s target price would suggest a potential upside of 52.06% from the company’s current price.

NOW has been the topic of a number of other reports. Morgan Stanley lowered their price target on shares of ServiceNow from $210.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Wolfe Research set a $125.00 price objective on shares of ServiceNow in a research note on Thursday, April 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $121.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Citic Securities dropped their target price on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Finally, Robert W. Baird reduced their price target on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.17.

ServiceNow Stock Performance

Shares of NOW stock opened at $98.64 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $100.10 and a 200-day simple moving average of $114.88. The company has a market cap of $101.70 billion, a price-to-earnings ratio of 58.79, a price-to-earnings-growth ratio of 1.64 and a beta of 0.94. ServiceNow has a 12-month low of $81.24 and a 12-month high of $211.48.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. On average, equities analysts forecast that ServiceNow will post 2.34 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of ServiceNow

Several institutional investors and hedge funds have recently bought and sold shares of NOW. JT Stratford LLC lifted its stake in ServiceNow by 3.5% during the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock worth $354,000 after purchasing an additional 13 shares during the last quarter. Florida Financial Advisors LLC increased its stake in ServiceNow by 5.4% during the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock valued at $280,000 after purchasing an additional 14 shares during the last quarter. First Affirmative Financial Network raised its holdings in shares of ServiceNow by 1.7% during the third quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider’s stock worth $821,000 after purchasing an additional 15 shares during the period. Nicolet Advisory Services LLC raised its holdings in shares of ServiceNow by 1.1% during the third quarter. Nicolet Advisory Services LLC now owns 1,462 shares of the information technology services provider’s stock worth $1,322,000 after purchasing an additional 16 shares during the period. Finally, Perennial Investment Advisors LLC lifted its position in shares of ServiceNow by 6.7% in the 3rd quarter. Perennial Investment Advisors LLC now owns 270 shares of the information technology services provider’s stock worth $248,000 after buying an additional 17 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.