ServiceNow (NOW) PT Set at $210.00 by Macquarie

ServiceNow (NYSE:NOW) has been given a $210.00 price objective by investment analysts at Macquarie in a research report issued on Friday. The firm currently has a “buy” rating on the information technology services provider’s stock. Macquarie’s price objective suggests a potential upside of 13.85% from the stock’s current price.

NOW has been the subject of several other reports. Northland Securities reaffirmed a “buy” rating and set a $200.00 price objective on shares of ServiceNow in a report on Thursday, July 26th. BMO Capital Markets raised their price target on ServiceNow from $177.00 to $205.00 and gave the stock an “outperform” rating in a research report on Thursday, July 26th. JMP Securities raised their price target on ServiceNow to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, July 26th. Royal Bank of Canada reissued a “buy” rating and set a $205.00 price target on shares of ServiceNow in a research report on Thursday, July 26th. Finally, Morgan Stanley raised their price target on ServiceNow from $172.00 to $198.00 and gave the stock an “overweight” rating in a research report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $203.04.

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Shares of NOW stock opened at $184.45 on Friday. The firm has a market cap of $34.81 billion, a P/E ratio of -175.67, a PEG ratio of 46.45 and a beta of 1.23. ServiceNow has a 1 year low of $112.84 and a 1 year high of $206.29. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. The firm had revenue of $631.05 million during the quarter, compared to analysts’ expectations of $616.68 million. ServiceNow had a negative return on equity of 7.48% and a negative net margin of 4.16%. ServiceNow’s revenue was up 40.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. As a group, research analysts predict that ServiceNow will post 0.16 earnings per share for the current year.

In other news, insider Chirantan Jitendra Desai sold 2,031 shares of ServiceNow stock in a transaction on Monday, August 13th. The stock was sold at an average price of $187.01, for a total value of $379,817.31. Following the completion of the sale, the insider now owns 2,534 shares of the company’s stock, valued at $473,883.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frederic B. Luddy sold 32,500 shares of ServiceNow stock in a transaction on Wednesday, October 10th. The shares were sold at an average price of $174.56, for a total value of $5,673,200.00. Following the completion of the sale, the director now directly owns 282,383 shares of the company’s stock, valued at approximately $49,292,776.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,819 shares of company stock valued at $40,902,407. Company insiders own 1.60% of the company’s stock.

Several large investors have recently made changes to their positions in NOW. Northern Trust Corp boosted its holdings in ServiceNow by 1.0% in the second quarter. Northern Trust Corp now owns 990,521 shares of the information technology services provider’s stock valued at $170,835,000 after acquiring an additional 9,950 shares during the last quarter. Zurich Insurance Group Ltd FI boosted its holdings in ServiceNow by 43.3% in the second quarter. Zurich Insurance Group Ltd FI now owns 37,929 shares of the information technology services provider’s stock valued at $6,542,000 after acquiring an additional 11,454 shares during the last quarter. CAPROCK Group Inc. acquired a new position in ServiceNow in the second quarter valued at $266,000. Centaurus Financial Inc. acquired a new position in ServiceNow in the second quarter valued at $685,000. Finally, Usca Ria LLC acquired a new position in ServiceNow in the second quarter valued at $345,000. 95.83% of the stock is owned by institutional investors and hedge funds.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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Analyst Recommendations for ServiceNow (NYSE:NOW)

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