ServiceNow (NYSE:NOW) Now Covered by BTIG Research

by · The Cerbat Gem

Equities researchers at BTIG Research began coverage on shares of ServiceNow (NYSE:NOW – Get Free Report) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating on the information technology services provider’s stock.

Several other equities analysts have also recently issued reports on NOW. UBS Group boosted their price objective on shares of ServiceNow from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. BMO Capital Markets cut their price target on shares of ServiceNow from $232.00 to $230.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Zacks Research cut ServiceNow from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Royal Bank Of Canada restated an “outperform” rating and issued a $240.00 price target on shares of ServiceNow in a research note on Thursday, October 30th. Finally, Citigroup raised their target price on ServiceNow from $246.80 to $250.60 and gave the company a “buy” rating in a report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.09.

View Our Latest Report on NOW

ServiceNow Stock Down 0.6%

Shares of NYSE:NOW opened at $155.57 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $865.53 and a 200-day simple moving average of $920.25. The company has a market capitalization of $32.31 billion, a PE ratio of 18.85, a P/E/G ratio of 3.26 and a beta of 0.97. ServiceNow has a twelve month low of $135.73 and a twelve month high of $239.62.

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

Insider Activity at ServiceNow

In related news, CFO Gina Mastantuono sold 2,085 shares of ServiceNow stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $161.60, for a total transaction of $336,936.00. Following the completion of the transaction, the chief financial officer directly owned 63,215 shares in the company, valued at $10,215,544. The trade was a 3.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $168.50, for a total value of $235,894.40. Following the transaction, the insider directly owned 25,270 shares of the company’s stock, valued at $4,257,893.92. The trade was a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,310 shares of company stock valued at $2,533,585 in the last quarter. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors have recently modified their holdings of the company. Brighton Jones LLC increased its stake in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of ServiceNow during the 1st quarter worth about $370,000. Dorsey & Whitney Trust CO LLC grew its holdings in ServiceNow by 28.2% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,888 shares of the information technology services provider’s stock valued at $2,299,000 after purchasing an additional 636 shares during the period. Partners Capital Investment Group LLP increased its position in ServiceNow by 142.1% during the first quarter. Partners Capital Investment Group LLP now owns 6,337 shares of the information technology services provider’s stock worth $5,045,000 after purchasing an additional 3,719 shares during the last quarter. Finally, Kaufman Rossin Wealth LLC acquired a new position in shares of ServiceNow in the 1st quarter valued at $467,000. Institutional investors and hedge funds 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.

Recommended Stories