ServiceNow (NOW) Rating Reiterated by Credit Suisse Group

Credit Suisse Group reissued their outperform rating on shares of ServiceNow (NYSE:NOW) in a report published on Tuesday morning, The Fly reports. The firm currently has a $160.00 price target on the information technology services provider’s stock, up from their previous price target of $138.00.

Several other research analysts have also recently commented on the stock. UBS Group increased their target price on shares of ServiceNow from $128.00 to $168.00 and gave the stock a buy rating in a report on Thursday, November 9th. Zacks Investment Research cut shares of ServiceNow from a hold rating to a sell rating in a report on Monday, October 30th. Cowen restated a buy rating and set a $160.00 target price on shares of ServiceNow in a report on Monday, December 11th. JPMorgan Chase & Co. cut shares of ServiceNow from an overweight rating to a neutral rating and set a $138.00 target price for the company. in a report on Tuesday, December 12th. Finally, Mizuho restated a buy rating on shares of ServiceNow in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-eight have given a buy rating and three have given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $133.73.

Shares of ServiceNow (NOW) traded up $1.14 on Tuesday, reaching $142.27. 1,594,513 shares of the company traded hands, compared to its average volume of 1,576,454. ServiceNow has a fifty-two week low of $82.14 and a fifty-two week high of $142.52. The firm has a market capitalization of $24,290.00, a PE ratio of -156.34 and a beta of 1.06. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.66 and a quick ratio of 1.66.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.06. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. The business had revenue of $498.20 million during the quarter, compared to analysts’ expectations of $491.62 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The firm’s revenue was up 39.3% on a year-over-year basis. equities research analysts predict that ServiceNow will post -0.35 EPS for the current year.

In other news, CRO David Schneider sold 16,349 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $124.21, for a total value of $2,030,709.29. Following the transaction, the executive now directly owns 67,185 shares of the company’s stock, valued at $8,345,048.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederic B. Luddy sold 48,790 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $124.37, for a total transaction of $6,068,012.30. Following the completion of the transaction, the director now directly owns 400 shares in the company, valued at $49,748. The disclosure for this sale can be found here. Insiders sold 630,174 shares of company stock worth $80,823,650 over the last three months. Insiders own 3.30% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in ServiceNow by 149.7% during the fourth quarter. State of Alaska Department of Revenue now owns 21,803 shares of the information technology services provider’s stock worth $2,841,000 after acquiring an additional 13,070 shares during the period. Schwab Charles Investment Management Inc. increased its position in ServiceNow by 5.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 320,719 shares of the information technology services provider’s stock worth $41,819,000 after acquiring an additional 15,138 shares during the period. Bank of Montreal Can increased its position in ServiceNow by 29.6% during the fourth quarter. Bank of Montreal Can now owns 160,344 shares of the information technology services provider’s stock worth $20,907,000 after acquiring an additional 36,632 shares during the period. Glynn Capital Management LLC increased its position in ServiceNow by 23.1% during the fourth quarter. Glynn Capital Management LLC now owns 158,733 shares of the information technology services provider’s stock worth $20,697,000 after acquiring an additional 29,835 shares during the period. Finally, DnB Asset Management AS increased its position in ServiceNow by 2.8% during the fourth quarter. DnB Asset Management AS now owns 18,442 shares of the information technology services provider’s stock worth $2,405,000 after acquiring an additional 500 shares during the period.

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ServiceNow Company Profile

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.

The Fly

Analyst Recommendations for ServiceNow (NYSE:NOW)

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