ServiceNow, Inc. (NYSE:NOW) was downgraded by research analysts at OTR Global to a “positive” rating in a research note issued on Friday.
Several other analysts have also weighed in on the company. Zacks Investment Research raised ServiceNow from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research note on Friday, April 28th. Morgan Stanley raised their price objective on ServiceNow from $108.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, April 28th. BMO Capital Markets raised their price objective on ServiceNow from $104.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, April 27th. Barclays PLC reaffirmed an “overweight” rating and issued a $115.00 price objective (up from $107.00) on shares of ServiceNow in a research note on Monday, June 5th. Finally, Royal Bank Of Canada raised their price objective on ServiceNow from $108.00 to $110.00 and gave the company a “top pick” rating in a research note on Thursday, April 27th. Seven investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $105.25.
ServiceNow (NYSE:NOW) traded down 1.34% on Friday, hitting $109.74. The company had a trading volume of 1,345,301 shares. The firm has a 50-day moving average price of $103.78 and a 200-day moving average price of $90.97. ServiceNow has a 12-month low of $65.41 and a 12-month high of $110.66. The firm’s market capitalization is $18.63 billion.
ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 26th. The information technology services provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by $0.02. The business had revenue of $416.80 million during the quarter, compared to analyst estimates of $409.26 million. ServiceNow had a negative net margin of 10.60% and a negative return on equity of 31.34%. The business’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same period last year, the business earned $0.09 earnings per share. On average, equities research analysts anticipate that ServiceNow will post $1.17 earnings per share for the current fiscal year.
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In other ServiceNow news, Director Frederic B. Luddy sold 102,000 shares of ServiceNow stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $94.96, for a total value of $9,685,920.00. Following the completion of the sale, the director now directly owns 6,232 shares in the company, valued at $591,790.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John J. Donahoe bought 11,236 shares of the stock in a transaction on Tuesday, May 9th. The stock was acquired at an average price of $98.05 per share, with a total value of $1,101,689.80. Following the completion of the acquisition, the insider now owns 5,618 shares of the company’s stock, valued at approximately $550,844.90. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 427,673 shares of company stock valued at $44,249,646. 3.30% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of NOW. Global X Management Co. LLC boosted its stake in shares of ServiceNow by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock worth $123,000 after buying an additional 330 shares during the period. Hartford Financial Management Inc. purchased a new stake in shares of ServiceNow during the first quarter worth approximately $125,000. TLP Group LLC purchased a new stake in shares of ServiceNow during the first quarter worth approximately $131,000. First Personal Financial Services boosted its stake in shares of ServiceNow by 37.5% in the first quarter. First Personal Financial Services now owns 1,623 shares of the information technology services provider’s stock worth $142,000 after buying an additional 443 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of ServiceNow by 357.0% in the first quarter. IFP Advisors Inc now owns 1,773 shares of the information technology services provider’s stock worth $155,000 after buying an additional 1,385 shares during the period. Institutional investors and hedge funds own 97.60% of the company’s stock.
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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