ServiceNow (NYSE:NOW) Earns Buy Rating from Analysts at BTIG Research

by · The Cerbat Gem

Research analysts at BTIG Research started coverage on shares of ServiceNow (NYSE:NOW – Get Free Report) in a research report issued on Tuesday, MarketBeat.com reports. The firm set a “buy” rating on the information technology services provider’s stock.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets reduced their target price on ServiceNow from $232.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Morgan Stanley set a $263.00 price objective on ServiceNow and gave the stock an “overweight” rating in a report on Thursday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $240.00 target price on shares of ServiceNow in a research note on Monday, October 27th. TD Cowen lifted their target price on shares of ServiceNow from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Guggenheim raised shares of ServiceNow from a “sell” rating to a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $225.09.

Read Our Latest Stock Report on ServiceNow

ServiceNow Stock Performance

Shares of ServiceNow stock traded down $3.74 during trading hours on Tuesday, reaching $152.74. The company had a trading volume of 1,434,891 shares, compared to its average volume of 8,235,396. ServiceNow has a one year low of $135.73 and a one year high of $239.62. The firm has a market cap of $31.72 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 3.26 and a beta of 0.97. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 1.06. The business has a fifty day simple moving average of $865.53 and a 200 day simple moving average of $920.25.

ServiceNow (NYSE:NOW – Get Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The information technology services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.84 by $0.12. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.35 billion. ServiceNow had a net margin of 13.66% and a return on equity of 18.74%. ServiceNow’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 earnings per share. On average, analysts anticipate that ServiceNow will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 2,085 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $161.60, for a total value of $336,936.00. Following the completion of the sale, the chief financial officer owned 63,215 shares in the company, valued at approximately $10,215,544. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 1,525 shares of ServiceNow stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $163.51, for a total transaction of $249,352.75. Following the completion of the transaction, the insider directly owned 2,705 shares in the company, valued at approximately $442,294.55. The trade was a 36.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 15,310 shares of company stock valued at $2,533,585. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of ServiceNow

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kilter Group LLC purchased a new stake in shares of ServiceNow in the 2nd quarter worth about $25,000. IAG Wealth Partners LLC raised its stake in ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after buying an additional 18 shares in the last quarter. Bogart Wealth LLC lifted its holdings in ServiceNow by 93.8% in the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock worth $29,000 after buying an additional 15 shares during the period. Wealth Watch Advisors INC bought a new stake in ServiceNow during the 3rd quarter valued at approximately $29,000. Finally, Global X Japan Co. Ltd. purchased a new position in shares of ServiceNow during the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Company Profile

(Get Free Report)

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.

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