ServiceNow's (NOW) "Buy" Rating Reiterated at BTIG Research

ServiceNow (NYSE:NOW - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at BTIG Research in a research report issued on Monday, Benzinga reports. They currently have a $170.00 target price on the information technology services provider's stock. BTIG Research's target price would indicate a potential upside of 20.87% from the company's current price.

Other analysts have also issued research reports about the stock. Benchmark reiterated a "buy" rating on shares of ServiceNow in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ServiceNow from $135.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, September 21st. Citigroup reaffirmed a "market outperform" rating on shares of ServiceNow in a research report on Tuesday, October 6th. Wells Fargo & Company reiterated an "overweight" rating and set a $175.00 price objective (up from $160.00) on shares of ServiceNow in a research note on Wednesday, August 12th. Finally, DA Davidson set a $170.00 price objective on ServiceNow and gave the company a "buy" rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and an average price target of $146.46.

ServiceNow Trading Down 0.2%

Shares of NYSE:NOW opened at $140.64 on Monday. ServiceNow has a 52-week low of $81.24 and a 52-week high of $192.97. The stock has a market cap of $145.42 billion, a price-to-earnings ratio of 87.90, a PEG ratio of 2.59 and a beta of 0.99. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $132.86 and a 200-day moving average price of $112.36.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. ServiceNow's revenue for the quarter was up 24.0% on a year-over-year basis. Equities analysts predict that ServiceNow will post 2.22 EPS for the current year.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 7,847 shares of the company's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the transaction, the insider owned 30,042 shares of the company's stock, valued at approximately $4,145,796. This represents a 20.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total value of $365,850.00. Following the transaction, the director owned 43,990 shares in the company, valued at $5,960,645. This represents a 5.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,081 shares of company stock valued at $1,937,904 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of ServiceNow

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Nova Scotia lifted its holdings in ServiceNow by 53.3% during the first quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider's stock valued at $106,436,000 after purchasing an additional 353,749 shares in the last quarter. Sapient Capital LLC grew its position in shares of ServiceNow by 266.0% in the second quarter. Sapient Capital LLC now owns 77,661 shares of the information technology services provider's stock valued at $7,710,000 after purchasing an additional 56,444 shares during the period. Meeder Advisory Services Inc. purchased a new stake in shares of ServiceNow during the second quarter worth about $2,881,000. Vestor Capital LLC increased its stake in shares of ServiceNow by 38,987.2% during the first quarter. Vestor Capital LLC now owns 122,343 shares of the information technology services provider's stock worth $12,791,000 after purchasing an additional 122,030 shares in the last quarter. Finally, Cardano Risk Management B.V. raised its position in shares of ServiceNow by 6.9% during the 2nd quarter. Cardano Risk Management B.V. now owns 484,785 shares of the information technology services provider's stock worth $48,129,000 after purchasing an additional 31,119 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

About ServiceNow

ServiceNow, Inc is a cloud-based enterprise software company that helps organizations digitize, automate and manage workflows. Its platform connects people, processes and systems across departments, enabling businesses to replace manual, disconnected activities with standardized digital workflows.

The company's products and services support a range of functions, including information technology service management, IT operations management, customer service, human resources, risk and security operations, and software development.