ServiceNow (NOW) Stock Rating Reaffirmed by Barclays

ServiceNow (NYSE:NOW)‘s stock had its “buy” rating reissued by investment analysts at Barclays in a research report issued on Monday. They currently have a $150.00 target price on the information technology services provider’s stock. Barclays’ price target points to a potential upside of 7.30% from the stock’s current price.

A number of other equities research analysts also recently issued reports on NOW. Summit Redstone reissued a “buy” rating and set a $135.00 price objective on shares of ServiceNow in a research report on Monday, September 18th. Robert W. Baird set a $120.00 price objective on shares of ServiceNow and gave the company a “buy” rating in a research report on Friday, October 6th. BMO Capital Markets reissued a “buy” rating and set a $127.00 price objective on shares of ServiceNow in a research report on Friday, October 13th. Mizuho reissued a “buy” rating on shares of ServiceNow in a research report on Monday, October 16th. Finally, OTR Global raised shares of ServiceNow to a “positive” rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-eight have issued a buy rating and three have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $133.73.

ServiceNow (NYSE NOW) traded up $1.60 during trading hours on Monday, reaching $139.79. 3,150,200 shares of the company’s stock were exchanged, compared to its average volume of 1,582,070. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.66 and a current ratio of 1.66. ServiceNow has a fifty-two week low of $81.29 and a fifty-two week high of $141.66. The company has a market cap of $23,860.00, a P/E ratio of -153.62 and a beta of 1.06.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $491.62 million. During the same quarter in the previous year, the firm posted $0.23 EPS. The firm’s revenue was up 39.3% on a year-over-year basis. equities analysts predict that ServiceNow will post -0.35 earnings per share for the current year.

In related 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 sale, the executive now directly owns 67,185 shares of the company’s stock, valued at approximately $8,345,048.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 150,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $125.96, for a total transaction of $18,894,000.00. Following the completion of the sale, the director now directly owns 216,535 shares in the company, valued at $27,274,748.60. The disclosure for this sale can be found here. Insiders have sold a total of 630,174 shares of company stock worth $80,823,650 over the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its position in ServiceNow by 6.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 305,581 shares of the information technology services provider’s stock worth $35,915,000 after purchasing an additional 18,537 shares during the period. Investec Asset Management LTD raised its position in ServiceNow by 42.9% in the 3rd quarter. Investec Asset Management LTD now owns 66,635 shares of the information technology services provider’s stock worth $7,832,000 after purchasing an additional 20,014 shares during the period. Jasper Ridge Partners L.P. purchased a new stake in ServiceNow in the 3rd quarter worth about $1,525,000. Rockefeller Financial Services Inc. purchased a new stake in ServiceNow in the 3rd quarter worth about $138,000. Finally, British Airways Pensions Investment Management Ltd raised its position in ServiceNow by 84.5% in the 3rd quarter. British Airways Pensions Investment Management Ltd now owns 218,243 shares of the information technology services provider’s stock worth $25,643,000 after purchasing an additional 99,938 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.

Analyst Recommendations for ServiceNow (NYSE:NOW)

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