Canaccord Genuity Reiterates “Buy” Rating For ServiceNow Inc (NOW) | Allowed in order to my personal weblog, on this moment We'll provide you with in relation to keyword. And now, this can be the very first graphic:
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ServiceNow Inc (NYSE:NOW)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity in a research report issued on Friday. They currently have a $105.00 price target on the information technology services provider’s stock. Canaccord Genuity’s price objective indicates a potential upside of 18.97% from the stock’s previous close.
Several other research analysts also recently issued reports on NOW. MKM Partners restated a “neutral” rating and set a $95.00 price objective (up from $80.00) on shares of ServiceNow in a research report on Monday, January 30th. Citigroup Inc lifted their price objective on ServiceNow from $95.00 to $107.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. Goldman Sachs Group Inc lifted their price objective on ServiceNow from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, January 26th. Barclays PLC lifted their price objective on ServiceNow from $87.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, January 26th. Finally, Mizuho restated a “buy” rating and set a $100.00 price objective on shares of ServiceNow in a research report on Tuesday, February 28th. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $93.92.
ServiceNow (NYSE:NOW) opened at 88.26 on Friday. ServiceNow has a 12-month low of $62.55 and a 12-month high of $94.72. The firm’s market cap is $14.83 billion. The company has a 50-day moving average price of $86.58 and a 200-day moving average price of $84.13.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 25th. The information technology services provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. ServiceNow had a negative return on equity of 44.13% and a negative net margin of 32.49%. The firm earned $385.70 million during the quarter, compared to the consensus estimate of $379.51 million. During the same period in the previous year, the firm posted $0.19 EPS. The company’s quarterly revenue was up 35.0% compared to the same quarter last year. On average, equities analysts predict that ServiceNow will post $1.08 earnings per share for the current year.TRADEMARK VIOLATION NOTICE: This piece was first reported by Markets Daily and is the property of of Markets Daily. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece can be read at https://www.themarketsdaily.com/2017/04/21/canaccord-genuity-reiterates-buy-rating-for-servicenow-inc-now.html.
In other news, CRO David Schneider sold 2,243 shares of the business’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $91.78, for a total transaction of $205,862.54. Following the completion of the sale, the executive now directly owns 53,934 shares of the company’s stock, valued at approximately $4,950,062.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 150,000 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $86.56, for a total transaction of $12,984,000.00. Following the sale, the director now directly owns 343,390 shares of the company’s stock, valued at $29,723,838.40. The disclosure for this sale can be found here. Insiders have sold a total of 613,046 shares of company stock valued at $53,721,564 over the last three months. Corporate insiders own 5.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. BP PLC acquired a new stake in shares of ServiceNow during the fourth quarter worth $1,487,000. Glynn Capital Management LLC boosted its stake in shares of ServiceNow by 32.5% in the third quarter. Glynn Capital Management LLC now owns 247,079 shares of the information technology services provider’s stock worth $19,556,000 after buying an additional 60,586 shares during the period. Strs Ohio boosted its stake in shares of ServiceNow by 23.1% in the third quarter. Strs Ohio now owns 725,500 shares of the information technology services provider’s stock worth $57,423,000 after buying an additional 135,986 shares during the period. Commonwealth Bank of Australia boosted its stake in shares of ServiceNow by 18.1% in the third quarter. Commonwealth Bank of Australia now owns 1,306 shares of the information technology services provider’s stock worth $104,000 after buying an additional 200 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in shares of ServiceNow by 4.1% in the third quarter. Great West Life Assurance Co. Can now owns 81,590 shares of the information technology services provider’s stock worth $6,451,000 after buying an additional 3,204 shares during the period. 96.26% of the stock is owned by hedge funds and other institutional investors.
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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