ServiceNow (NYSE:NOW) had its price objective boosted by research analysts at Citigroup to $200.00 in a report issued on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Citigroup’s price objective would suggest a potential upside of 12.61% from the stock’s previous close.

Several other analysts have also commented on the stock. Deutsche Bank lifted their price target on shares of ServiceNow from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, May 31st. Deutsche Bank lifted their price target on shares of ServiceNow to $200.00 and gave the company a “buy” rating in a research report on Thursday, May 31st. Canaccord Genuity boosted their target price on ServiceNow from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, May 9th. Raymond James boosted their target price on ServiceNow from $190.00 to $202.00 and gave the company a “strong-buy” rating in a research report on Tuesday, May 8th. Finally, UBS Group set a $196.00 target price on ServiceNow and gave the company a “buy” rating in a research report on Tuesday, May 8th. Four research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company. ServiceNow has an average rating of “Buy” and an average target price of $176.85.

NOW stock opened at $177.60 on Tuesday. The company has a market cap of $30.47 billion, a PE ratio of -169.14, a PEG ratio of 51.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.19 and a current ratio of 1.19. ServiceNow has a one year low of $103.00 and a one year high of $188.59.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 25th. The information technology services provider reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.19. The firm had revenue of $589.20 million for the quarter, compared to analyst estimates of $570.63 million. ServiceNow had a negative net margin of 4.65% and a negative return on equity of 10.63%. The business’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. analysts forecast that ServiceNow will post 0.13 earnings per share for the current year.

In other ServiceNow news, Director Frederic B. Luddy sold 32,500 shares of the company’s stock in a transaction on Monday, June 18th. The shares were sold at an average price of $185.22, for a total value of $6,019,650.00. Following the completion of the transaction, the director now owns 282,383 shares in the company, valued at $52,302,979.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $164.48, for a total transaction of $16,448,000.00. Following the completion of the transaction, the director now owns 195,076 shares of the company’s stock, valued at approximately $32,086,100.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 413,156 shares of company stock valued at $72,042,087. Insiders own 1.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC raised its holdings in shares of ServiceNow by 66.7% in the first quarter. IHT Wealth Management LLC now owns 750 shares of the information technology services provider’s stock valued at $121,000 after buying an additional 300 shares during the last quarter. First Republic Investment Management Inc. raised its holdings in ServiceNow by 3.0% during the first quarter. First Republic Investment Management Inc. now owns 10,824 shares of the information technology services provider’s stock worth $1,791,000 after purchasing an additional 312 shares in the last quarter. Gulf International Bank UK Ltd raised its holdings in ServiceNow by 0.6% during the first quarter. Gulf International Bank UK Ltd now owns 53,875 shares of the information technology services provider’s stock worth $8,913,000 after purchasing an additional 320 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in ServiceNow by 7.1% during the first quarter. IFM Investors Pty Ltd now owns 5,358 shares of the information technology services provider’s stock worth $886,000 after purchasing an additional 355 shares in the last quarter. Finally, Kingfisher Capital LLC raised its holdings in ServiceNow by 8.9% during the first quarter. Kingfisher Capital LLC now owns 4,673 shares of the information technology services provider’s stock worth $773,000 after purchasing an additional 383 shares in the last quarter. Institutional investors own 97.12% 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 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.

The Fly

Analyst Recommendations for ServiceNow (NYSE:NOW)

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