ServiceNow (NYSE:NOW – Get Free Report)‘s stock had its “sell” rating restated by research analysts at Guggenheim in a research report issued on Wednesday,Benzinga reports. They presently have a $716.00 target price on the information technology services provider’s stock. Guggenheim’s price target indicates a potential downside of 36.77% from the company’s previous close.
A number of other brokerages also recently commented on NOW. Sanford C. Bernstein raised their price objective on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. JMP Securities lifted their price target on shares of ServiceNow from $1,000.00 to $1,300.00 and gave the stock a “market outperform” rating in a research note on Tuesday. Citigroup increased their price objective on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Canaccord Genuity Group lifted their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,093.34.
ServiceNow Price Performance
ServiceNow (NYSE:NOW – Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The business’s revenue was up 22.2% compared to the same quarter last year. Research analysts predict that ServiceNow will post 7.04 earnings per share for the current year.
Insider Activity
In other news, Director Anita M. Sands sold 2,229 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at $11,710,600. This represents a 16.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock valued at $21,016,751 over the last 90 days. 0.25% of the stock is owned by company insiders.
Hedge Funds Weigh In On ServiceNow
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the 3rd quarter valued at approximately $30,000. DT Investment Partners LLC raised its stake in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth about $37,000. Semmax Financial Advisors Inc. bought a new position in ServiceNow in the second quarter valued at approximately $39,000. Finally, Oakworth Capital Inc. increased its position in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 14 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.
About ServiceNow
ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.
Read More
- Five stocks we like better than ServiceNow
- Unveiling The Power Of VWAP: A Key Indicator For Traders
- Market Momentum: 3 Stocks Poised for Significant Breakouts
- The Basics of Support and Resistance
- Kinder Morgan’s Uptrend is Only Half Over: New Highs Are Coming
- Best Stocks Under $10.00
- Momentum Builders: 3 Stocks Positioned to Shine This Quarter
Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.