ServiceNow (NYSE:NOW) Raised to “Buy” at Stifel Nicolaus

Stifel Nicolaus upgraded shares of ServiceNow (NYSE:NOW) from a hold rating to a buy rating in a report published on Wednesday, BenzingaRatingsTable reports. They currently have $320.00 price target on the information technology services provider’s stock, up from their previous price target of $290.00.

A number of other research firms have also issued reports on NOW. Northland Securities reissued a buy rating and issued a $280.00 target price on shares of ServiceNow in a report on Thursday, May 2nd. Zacks Investment Research raised ServiceNow from a hold rating to a buy rating and set a $299.00 target price on the stock in a report on Tuesday, April 30th. Argus boosted their target price on ServiceNow from $260.00 to $304.00 and gave the company a buy rating in a report on Wednesday, May 1st. Morgan Stanley boosted their target price on ServiceNow from $250.00 to $267.00 and gave the company an overweight rating in a report on Thursday, April 25th. Finally, William Blair reissued an outperform rating on shares of ServiceNow in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company. ServiceNow has a consensus rating of Buy and a consensus target price of $291.66.

NOW opened at $263.07 on Wednesday. The firm has a market cap of $49.62 billion, a price-to-earnings ratio of 1,315.35, a price-to-earnings-growth ratio of 22.68 and a beta of 1.30. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $278.78 and its two-hundred day moving average is $260.31. ServiceNow has a 52 week low of $147.63 and a 52 week high of $303.17.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02. The business had revenue of $833.90 million for the quarter, compared to analyst estimates of $831.50 million. ServiceNow had a return on equity of 4.29% and a net margin of 0.09%. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. Equities analysts expect that ServiceNow will post 0.43 EPS for the current fiscal year.

In related news, CFO Michael Scarpelli sold 31,183 shares of ServiceNow stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $260.22, for a total value of $8,114,440.26. Following the sale, the chief financial officer now directly owns 36,200 shares in the company, valued at $9,419,964. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frederic B. Luddy sold 22,000 shares of ServiceNow stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $277.57, for a total value of $6,106,540.00. Following the completion of the sale, the director now owns 1,770 shares in the company, valued at $491,298.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,767 shares of company stock worth $32,107,343. Company insiders own 1.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Financial Gravity Wealth Inc. purchased a new stake in ServiceNow during the first quarter worth $25,000. Sandy Spring Bank boosted its position in ServiceNow by 118.0% during the first quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. San Francisco Sentry Investment Group CA boosted its position in ServiceNow by 650.0% during the second quarter. San Francisco Sentry Investment Group CA now owns 105 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 91 shares in the last quarter. Motco purchased a new stake in ServiceNow during the second quarter worth $33,000. Finally, Knuff & Co LLC purchased a new stake in ServiceNow during the first quarter worth $37,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

ServiceNow Company Profile

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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Analyst Recommendations for ServiceNow (NYSE:NOW)

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