ServiceNow (NYSE:NOW) Given “Buy” Rating at BTIG Research

ServiceNow (NYSE:NOW)‘s stock had its “buy” rating reaffirmed by investment analysts at BTIG Research in a research note issued to investors on Monday,Benzinga reports. They currently have a $150.00 price target on the information technology services provider’s stock. BTIG Research’s price target indicates a potential upside of 52.06% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on NOW. Evercore raised their target price on ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Weiss Ratings cut shares of ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, April 21st. Cantor Fitzgerald set a $130.00 price objective on shares of ServiceNow in a research report on Monday, June 15th. Barclays reissued an “overweight” rating and set a $134.00 target price (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $157.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.17.

ServiceNow Stock Up 0.3%

Shares of ServiceNow stock opened at $98.64 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The business’s 50 day simple moving average is $100.10 and its 200-day simple moving average is $114.88. The stock has a market capitalization of $101.70 billion, a price-to-earnings ratio of 58.79, a PEG ratio of 1.64 and a beta of 0.94. ServiceNow has a twelve month low of $81.24 and a twelve month high of $211.48.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. Equities research analysts forecast that ServiceNow will post 2.34 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Basecamp Wealth Advisors LLC lifted its position in ServiceNow by 4.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 2,909 shares of the information technology services provider’s stock worth $304,000 after purchasing an additional 121 shares during the period. Western Wealth Management LLC increased its position in shares of ServiceNow by 35.7% during the 1st quarter. Western Wealth Management LLC now owns 19,660 shares of the information technology services provider’s stock valued at $2,055,000 after purchasing an additional 5,167 shares during the period. Wealth High Governance Capital Ltda bought a new stake in shares of ServiceNow in the 1st quarter worth $732,000. Wealth High Governance Asset Management Ltda. acquired a new stake in shares of ServiceNow in the first quarter valued at $627,000. Finally, Lombard Odier Asset Management Europe Ltd lifted its holdings in shares of ServiceNow by 104.9% in the first quarter. Lombard Odier Asset Management Europe Ltd now owns 99,813 shares of the information technology services provider’s stock valued at $10,435,000 after buying an additional 51,108 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.