ServiceNow’s (NOW) “Outperform” Rating Reiterated at Credit Suisse Group

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

NOW has been the topic of several other research reports. Robert W. Baird set a $120.00 price objective on ServiceNow and gave the company a buy rating in a research report on Friday, October 6th. Stifel Nicolaus upped their target price on ServiceNow from $110.00 to $120.00 and gave the stock a hold rating in a report on Thursday, October 26th. BMO Capital Markets reiterated a buy rating and issued a $127.00 target price on shares of ServiceNow in a report on Friday, October 13th. OTR Global upgraded ServiceNow to a positive rating in a report on Wednesday, October 18th. Finally, Deutsche Bank upped their target price on ServiceNow from $115.00 to $135.00 and gave the stock a buy rating in a report on Wednesday, October 18th. One research 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 assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $133.73.

Shares of ServiceNow (NYSE NOW) traded up $2.27 during trading on Tuesday, reaching $142.27. The company’s stock had a trading volume of 1,610,000 shares, compared to its average volume of 1,590,000. The company has a market cap of $24,290.00, a P/E ratio of -156.34 and a beta of 1.06. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 2.10. ServiceNow has a 12 month low of $82.14 and a 12 month high of $142.52.

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

In other ServiceNow news, CRO David Schneider sold 16,349 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $124.21, for a total value of $2,030,709.29. Following the completion of the sale, the executive now directly owns 67,185 shares in the company, valued at $8,345,048.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frederic B. Luddy sold 170,000 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $129.43, for a total value of $22,003,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 630,174 shares of company stock valued at $80,823,650 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue raised its stake in ServiceNow by 149.7% in the fourth quarter. State of Alaska Department of Revenue now owns 21,803 shares of the information technology services provider’s stock valued at $2,841,000 after buying an additional 13,070 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in ServiceNow by 5.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 320,719 shares of the information technology services provider’s stock valued at $41,819,000 after buying an additional 15,138 shares during the last quarter. Bank of Montreal Can raised its stake in ServiceNow by 29.6% in the fourth quarter. Bank of Montreal Can now owns 160,344 shares of the information technology services provider’s stock valued at $20,907,000 after buying an additional 36,632 shares during the last quarter. Glynn Capital Management LLC raised its stake in ServiceNow by 23.1% in the fourth quarter. Glynn Capital Management LLC now owns 158,733 shares of the information technology services provider’s stock valued at $20,697,000 after buying an additional 29,835 shares during the last quarter. Finally, DnB Asset Management AS raised its stake in ServiceNow by 2.8% in the fourth quarter. DnB Asset Management AS now owns 18,442 shares of the information technology services provider’s stock valued at $2,405,000 after buying an additional 500 shares during the last quarter.

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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

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