BTIG Research Reiterates Buy Rating for ServiceNow (NYSE:NOW)

ServiceNow (NYSE:NOW)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a research report issued on Monday,Benzinga reports. They presently have a $185.00 target price on the information technology services provider’s stock. BTIG Research’s target price suggests a potential upside of 91.44% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. Benchmark assumed coverage on ServiceNow in a research note on Wednesday, April 1st. They set a “buy” rating and a $125.00 price objective for the company. Arete Research set a $200.00 price target on ServiceNow in a research note on Tuesday, January 6th. Mizuho set a $150.00 price target on ServiceNow and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of ServiceNow in a research note on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.46.

ServiceNow Price Performance

NYSE:NOW opened at $96.64 on Monday. The firm has a market capitalization of $100.13 billion, a price-to-earnings ratio of 57.94, a P/E/G ratio of 1.62 and a beta of 1.01. ServiceNow has a 52-week low of $81.24 and a 52-week high of $211.48. The stock has a fifty day moving average of $105.72 and a 200 day moving average of $140.24. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.53 billion. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The firm’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the company earned $0.73 earnings per share. On average, research analysts expect that ServiceNow will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kevin Thomas Mcbride sold 1,400 shares of ServiceNow stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the transaction, the insider owned 26,314 shares in the company, valued at approximately $2,781,652.94. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $101.17, for a total value of $151,755.00. Following the completion of the transaction, the director owned 46,430 shares in the company, valued at approximately $4,697,323.10. This represents a 3.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,237 shares of company stock valued at $1,697,162 over the last 90 days. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. IAG Wealth Partners LLC increased its holdings in shares of ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after buying an additional 18 shares during the period. Bogart Wealth LLC increased its holdings in shares of ServiceNow by 93.8% in the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock worth $29,000 after buying an additional 15 shares during the period. Wealth Watch Advisors INC purchased a new position in shares of ServiceNow in the third quarter worth about $29,000. Albion Financial Group UT increased its holdings in shares of ServiceNow by 78.9% in the third quarter. Albion Financial Group UT now owns 34 shares of the information technology services provider’s stock worth $31,000 after buying an additional 15 shares during the period. Finally, True Wealth Design LLC increased its holdings in shares of ServiceNow by 52.0% in the third quarter. True Wealth Design LLC now owns 38 shares of the information technology services provider’s stock worth $35,000 after buying an additional 13 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.