ServiceNow (NYSE:NOW) Hits New 52-Week High at $295.60

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ServiceNow Inc (NYSE:NOW) hit a new 52-week high on Tuesday . The company traded as high as $295.60 and last traded at $294.32, with a volume of 7307 shares. The stock had previously closed at $293.00.

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada set a €86.00 ($100.00) price objective on Henkel AG & Co KGaA and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $760.00 price objective (up from $755.00) on shares of Chipotle Mexican Grill in a report on Thursday, April 25th. Zacks Investment Research cut German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Raymond James cut Consolidated Communications to a “market perform” rating in a report on Thursday, April 25th. Finally, Wells Fargo & Co upgraded California Water Service Group to a “market perform” rating in a report on Thursday, April 25th. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. ServiceNow has a consensus rating of “Buy” and an average price target of $270.68.

The company has a market cap of $55.84 billion, a P/E ratio of 1,511.55, a PEG ratio of 21.72 and a beta of 1.33. The stock’s fifty day moving average price is $276.82. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.88.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.10. The business had revenue of $788.93 million during the quarter, compared to analyst estimates of $768.09 million. ServiceNow had a positive return on equity of 1.64% and a negative net margin of 1.38%. ServiceNow’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 EPS. On average, equities analysts anticipate that ServiceNow Inc will post 0.48 earnings per share for the current fiscal year.

In other ServiceNow news, insider David Schneider sold 3,414 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $291.33, for a total transaction of $994,600.62. Following the completion of the transaction, the insider now owns 44,351 shares of the company’s stock, valued at approximately $12,920,776.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederic B. Luddy sold 22,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $291.33, for a total value of $6,409,260.00. Following the transaction, the director now directly owns 2,983 shares of the company’s stock, valued at approximately $869,037.39. The disclosure for this sale can be found here. Insiders have sold a total of 119,018 shares of company stock valued at $32,681,043 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC raised its position in ServiceNow by 26.2% during the 1st quarter. Jennison Associates LLC now owns 3,036,568 shares of the information technology services provider’s stock valued at $748,484,000 after purchasing an additional 630,491 shares during the last quarter. Coatue Management LLC raised its position in ServiceNow by 38.6% during the 4th quarter. Coatue Management LLC now owns 2,129,852 shares of the information technology services provider’s stock valued at $379,220,000 after purchasing an additional 592,759 shares during the last quarter. American Century Companies Inc. raised its position in ServiceNow by 14.6% during the 4th quarter. American Century Companies Inc. now owns 1,772,188 shares of the information technology services provider’s stock valued at $315,538,000 after purchasing an additional 226,028 shares during the last quarter. Norges Bank bought a new position in shares of ServiceNow in the 4th quarter worth approximately $297,403,000. Finally, Geode Capital Management LLC raised its position in shares of ServiceNow by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 1,536,350 shares of the information technology services provider’s stock worth $273,336,000 after acquiring an additional 55,767 shares in the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

ServiceNow Company Profile (NYSE:NOW)

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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