ServiceNow (NYSE:NOW) Now Covered by Analysts at Scotiabank

Scotiabank assumed coverage on shares of ServiceNow (NYSE:NOW) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a “sector outperform” rating and a $1,230.00 price target on the information technology services provider’s stock. Scotiabank’s price objective suggests a potential upside of 22.45% from the company’s current price.

NOW has been the subject of a number of other research reports. Needham & Company LLC lifted their price objective on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Mizuho raised their price objective on shares of ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. UBS Group boosted their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $983.18.

ServiceNow Trading Down 0.7 %

Shares of NOW opened at $1,004.53 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $206.93 billion, a price-to-earnings ratio of 156.23, a PEG ratio of 5.80 and a beta of 0.98. The company has a 50-day moving average of $935.45 and a 200 day moving average of $827.30. ServiceNow has a 1-year low of $637.99 and a 1-year high of $1,061.66.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. On average, research analysts expect that ServiceNow will post 7.07 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,231 shares of company stock valued at $4,947,292 in the last 90 days. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors have recently modified their holdings of the stock. World Investment Advisors LLC increased its holdings in shares of ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after purchasing an additional 4,771,830 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after acquiring an additional 1,183,739 shares during the last quarter. Swedbank AB bought a new stake in ServiceNow during the 1st quarter worth about $897,908,000. Bank of Montreal Can lifted its position in ServiceNow by 216.6% during the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after purchasing an additional 935,848 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.