ServiceNow (NYSE:NOW) had its target price raised by Barclays from $235.00 to $270.00 in a report published on Friday morning, Stock Target Advisor reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.
A number of other equities research analysts also recently weighed in on NOW. Atlantic Securities started coverage on shares of ServiceNow in a research note on Wednesday, January 9th. They issued a neutral rating and a $199.00 target price on the stock. BMO Capital Markets reaffirmed an outperform rating and issued a $235.00 target price (up from $205.00) on shares of ServiceNow in a research note on Thursday, January 31st. Stifel Nicolaus reaffirmed a hold rating and issued a $210.00 target price (up from $180.00) on shares of ServiceNow in a research note on Thursday, January 31st. They noted that the move was a valuation call. UBS Group reaffirmed a buy rating and issued a $230.00 target price (up from $214.00) on shares of ServiceNow in a research note on Thursday, January 31st. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $240.00 target price (up from $210.00) on shares of ServiceNow in a research note on Thursday, January 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the stock. ServiceNow has a consensus rating of Buy and a consensus target price of $233.04.
Shares of NOW opened at $243.79 on Friday. The company has a market capitalization of $44.10 billion, a P/E ratio of 1,218.95, a P/E/G ratio of 25.18 and a beta of 1.44. The company has a current ratio of 1.16, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. ServiceNow has a 1-year low of $147.63 and a 1-year high of $251.65.
ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 30th. The information technology services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $715.44 million for the quarter, compared to the consensus estimate of $717.73 million. ServiceNow had a negative net margin of 1.02% and a positive return on equity of 3.95%. ServiceNow’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period last year, the firm posted $0.37 earnings per share. On average, analysts anticipate that ServiceNow will post 0.35 EPS for the current fiscal year.
In other ServiceNow news, insider David Schneider sold 3,414 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $243.00, for a total transaction of $829,602.00. Following the transaction, the insider now directly owns 50,932 shares in the company, valued at $12,376,476. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederic B. Luddy sold 32,500 shares of the stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $189.76, for a total transaction of $6,167,200.00. Following the transaction, the director now owns 282,383 shares in the company, valued at $53,584,998.08. The disclosure for this sale can be found here. Insiders have sold 258,898 shares of company stock worth $57,822,234 over the last quarter. Company insiders own 1.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. We Are One Seven LLC bought a new position in shares of ServiceNow in the fourth quarter worth approximately $27,000. Claybrook Capital LLC bought a new position in shares of ServiceNow in the fourth quarter worth approximately $28,000. Financial Management Professionals Inc. bought a new position in shares of ServiceNow in the fourth quarter worth approximately $30,000. Shine Investment Advisory Services Inc. grew its holdings in shares of ServiceNow by 50.5% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 167 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 56 shares during the last quarter. Finally, North Star Investment Management Corp. bought a new position in shares of ServiceNow in the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 97.30% 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.
Further Reading: Limitations of the P/E Growth ratio
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