ServiceNow (NYSE:NOW) Hits New 52-Week High at $295.60

Shares of ServiceNow Inc (NYSE:NOW) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $295.60 and last traded at $294.32, with a volume of 7307 shares. The stock had previously closed at $293.00.

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada set a €86.00 ($100.00) price target on Henkel AG & Co KGaA and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Mizuho assumed coverage on LogMeIn in a research note on Wednesday, March 13th. They issued a “neutral” rating and a $88.00 price target on the stock. UBS Group restated a “buy” rating and issued a $124.00 price target on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research note on Thursday, April 25th. Needham & Company LLC raised their price target on Lam Research from $180.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Bank of America upgraded Air Products & Chemicals from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $170.00 to $215.00 in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. ServiceNow has a consensus rating of “Buy” and an average price target of $270.68.

The company has a market cap of $55.84 billion, a P/E ratio of 1,511.55, a PEG ratio of 21.72 and a beta of 1.33. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s 50-day simple moving average is $276.82.

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

In other ServiceNow news, Director Frederic B. Luddy sold 21,103 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $263.72, for a total transaction of $5,565,283.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David Schneider sold 3,414 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $291.33, for a total value of $994,600.62. Following the sale, the insider now directly owns 44,351 shares in the company, valued at $12,920,776.83. The disclosure for this sale can be found here. Insiders have sold 119,018 shares of company stock worth $32,681,043 over the last quarter. 1.00% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of NOW. Norges Bank bought a new stake in ServiceNow during the fourth quarter valued at about $297,403,000. GQG Partners LLC raised its holdings in ServiceNow by 444.8% during the first quarter. GQG Partners LLC now owns 985,385 shares of the information technology services provider’s stock valued at $242,370,000 after acquiring an additional 804,514 shares during the period. Jennison Associates LLC raised its holdings in ServiceNow by 26.2% during the first quarter. Jennison Associates LLC now owns 3,036,568 shares of the information technology services provider’s stock valued at $748,484,000 after acquiring an additional 630,491 shares during the period. Coatue Management LLC raised its holdings in ServiceNow by 38.6% during the fourth quarter. Coatue Management LLC now owns 2,129,852 shares of the information technology services provider’s stock valued at $379,220,000 after acquiring an additional 592,759 shares during the period. Finally, Carillon Tower Advisers Inc. raised its holdings in ServiceNow by 60.2% during the first quarter. Carillon Tower Advisers Inc. now owns 701,244 shares of the information technology services provider’s stock valued at $172,849,000 after acquiring an additional 263,615 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Company Profile (NYSE:NOW)

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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