ServiceNow (NOW) PT Raised to $270.00

ServiceNow (NYSE:NOW) had its price target increased by Royal Bank of Canada to $270.00 in a research report sent to investors on Thursday, The Fly reports. Royal Bank of Canada currently has a top pick rating on the information technology services provider’s stock.

Other equities analysts have also recently issued research reports about the company. Piper Jaffray Companies raised their price target on ServiceNow from $230.00 to $260.00 and gave the company an overweight rating in a report on Thursday, April 18th. Canaccord Genuity raised their price target on ServiceNow from $240.00 to $285.00 and gave the company a buy rating in a report on Thursday. UBS Group raised their price target on ServiceNow from $271.00 to $290.00 and gave the company a buy rating in a report on Thursday. JMP Securities raised their price target on ServiceNow from $225.00 to $280.00 and gave the company a market outperform rating in a report on Thursday. Finally, Morgan Stanley raised their price target on ServiceNow from $250.00 to $267.00 and gave the company an overweight rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and three have assigned a strong buy rating to the company. ServiceNow currently has an average rating of Buy and an average target price of $259.32.

Shares of NOW opened at $267.08 on Thursday. The company has a market cap of $48.21 billion, a P/E ratio of 1,335.40, a price-to-earnings-growth ratio of 30.12 and a beta of 1.44. ServiceNow has a 12-month low of $147.63 and a 12-month high of $269.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.16.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share (EPS) for the quarter, beating the 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 1.71% and a negative net margin of 1.38%. The firm’s quarterly revenue was up 33.9% on a year-over-year basis. During the same quarter last year, the company earned $0.56 EPS. On average, equities analysts expect that ServiceNow will post 0.32 EPS for the current year.

In other ServiceNow news, Director Ronald E. F. Codd sold 100,000 shares of ServiceNow stock in a transaction on Friday, February 1st. The stock was sold at an average price of $220.08, for a total transaction of $22,008,000.00. Following the completion of the sale, the director now directly owns 78,428 shares of the company’s stock, valued at approximately $17,260,434.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 1,304 shares of ServiceNow stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $235.00, for a total value of $306,440.00. Following the sale, the director now directly owns 9,571 shares of the company’s stock, valued at $2,249,185. The disclosure for this sale can be found here. Insiders have sold a total of 233,071 shares of company stock valued at $53,256,230 over the last three months. 1.60% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Berkshire Capital Holdings Inc. raised its position in shares of ServiceNow by 889.5% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 41,460 shares of the information technology services provider’s stock worth $7,382,000 after acquiring an additional 37,270 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of ServiceNow by 17.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 22,134 shares of the information technology services provider’s stock worth $3,941,000 after acquiring an additional 3,259 shares in the last quarter. Next Capital Management LLC bought a new position in shares of ServiceNow in the 4th quarter worth $32,000. Advisors Asset Management Inc. raised its position in shares of ServiceNow by 26.6% in the 4th quarter. Advisors Asset Management Inc. now owns 20,609 shares of the information technology services provider’s stock worth $3,669,000 after acquiring an additional 4,325 shares in the last quarter. Finally, Roman Butler Fullerton & Co. bought a new position in shares of ServiceNow in the 4th quarter worth $518,000. 97.41% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for ServiceNow (NYSE:NOW)

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