ServiceNow (NYSE:NOW) Sees Coverage Initiated By Jefferies with a $240 Price

October 2, 2018 - By Marguerite Chambers

ServiceNow, Inc. (NYSE:NOW) Logo

Investors sentiment increased to 1.28 in Q2 2018. Its up 0.25, from 1.03 in 2018Q1. It increased, as 37 investors sold ServiceNow, Inc. shares while 140 reduced holdings. 73 funds opened positions while 154 raised stakes. 167.12 million shares or 0.19% more from 166.80 million shares in 2018Q1 were reported.

Moreover, Voloridge Investment Management Limited has 0.09% invested in ServiceNow, Inc. (NYSE:NOW). British Columbia Invest Mgmt holds 62,759 shares. Connor Clark And Lunn Investment Limited holds 3,800 shares. Ww Asset Mngmt invested in 0.05% or 6,225 shares. Howe & Rusling invested in 255 shares or 0.01% of the stock. Hanseatic Services holds 0.98% or 6,639 shares. Lombard Odier Asset (Europe) Ltd has invested 0.02% in ServiceNow, Inc. (NYSE:NOW). Employees Retirement Of Texas has 24,000 shares for 0.06% of their portfolio. Old Mutual Customised Solutions (Proprietary) Limited, a South Africa-based fund reported 2,006 shares. Tower Rech Capital Limited Com (Trc) has 0.01% invested in ServiceNow, Inc. (NYSE:NOW). Panagora Asset Mngmt invested in 16,915 shares. Mariner Limited Liability Company accumulated 7,624 shares. Mathes has invested 2.2% in ServiceNow, Inc. (NYSE:NOW). Moreover, Natl Pension Ser has 0.15% invested in ServiceNow, Inc. (NYSE:NOW) for 191,105 shares. Westfield Lp has invested 1.1% in ServiceNow, Inc. (NYSE:NOW).

Since April 2, 2018, it had 0 insider purchases, and 26 insider sales for $103.22 million activity. 100,000 ServiceNow, Inc. (NYSE:NOW) shares with value of $16.45 million were sold by Slootman Frank. $5.93M worth of ServiceNow, Inc. (NYSE:NOW) was sold by LUDDY FREDERIC B on Wednesday, August 22. The insider Scarpelli Michael sold $5.49 million. Shares for $400,156 were sold by Schneider David on Wednesday, May 23. $663,525 worth of ServiceNow, Inc. (NYSE:NOW) was sold by WADORS PATRICIA L. On Thursday, June 14 Sands Anita M sold $581,344 worth of ServiceNow, Inc. (NYSE:NOW) or 3,179 shares.

Why Has Jefferies Given ServiceNow (NYSE:NOW) a $240 Price Target

Jefferies began its coverage for ServiceNow (NYSE:NOW), this morning Tuesday, 2 October. The firm found the stock of NOW quite attractive and now has a price target of $240 with a key Buy rating.

ServiceNow, Inc. (NYSE:NOW) Ratings Coverage

Among 15 analysts covering ServiceNow (NYSE:NOW), 13 have Buy rating, 0 Sell and 2 Hold. Therefore 87% are positive. ServiceNow has $235 highest and $15 lowest target. $184.33’s average target is -5.28% below currents $194.61 stock price. ServiceNow had 22 analyst reports since April 23, 2018 according to SRatingsIntel. As per Thursday, July 26, the company rating was maintained by Stifel Nicolaus. The firm has “Buy” rating by UBS given on Tuesday, May 8. The stock has “Overweight” rating by Barclays Capital on Thursday, July 12. The firm earned “Neutral” rating on Thursday, April 26 by JP Morgan. Piper Jaffray maintained ServiceNow, Inc. (NYSE:NOW) rating on Monday, April 30. Piper Jaffray has “Buy” rating and $19000 target. The company was maintained on Thursday, July 26 by Credit Suisse. Raymond James maintained the stock with “Strong Buy” rating in Thursday, April 26 report. Bank of America maintained ServiceNow, Inc. (NYSE:NOW) on Wednesday, July 25 with “Buy” rating. On Thursday, April 26 the stock rating was maintained by Macquarie Research with “Outperform”. The company was maintained on Tuesday, May 8 by FBN Securities.

The stock decreased 0.52% or $1.02 during the last trading session, reaching $194.61. About 1.34 million shares traded. ServiceNow, Inc. (NYSE:NOW) has risen 74.41% since October 2, 2017 and is uptrending. It has outperformed by 58.79% the S&P500.

Analysts await ServiceNow, Inc. (NYSE:NOW) to report earnings on October, 24. They expect $0.07 earnings per share, up 216.67 % or $0.13 from last year’s $-0.06 per share. NOW’s profit will be $12.46 million for 695.04 P/E if the $0.07 EPS becomes a reality. After $-0.19 actual earnings per share reported by ServiceNow, Inc. for the previous quarter, Wall Street now forecasts -136.84 % EPS growth.

ServiceNow, Inc. provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company has market cap of $34.63 billion. The firm offers service management solutions for customer support, human resources, security operations, and other enterprise departments. It currently has negative earnings. It operates ServiceNow platform that provides workflow, configuration management database, service catalog, service portal, knowledge management, reporting and analytics, data benchmarking, visual task boards, built-in and optional encryption capabilities, and collaboration and developer tools.

More important recent ServiceNow, Inc. (NYSE:NOW) news were published by: Twst.com which released: “ServiceNow Inc.: ServiceNow to Announce Third Quarter 2018 Financial Results on October 24” on October 02, 2018, also Seekingalpha.com published article titled: “An Explosive Large-Cap Growth Story!”, Streetinsider.com published: “Jefferies Starts ServiceNow (NOW) at Buy, Top Large Cap Pick” on October 02, 2018. More interesting news about ServiceNow, Inc. (NYSE:NOW) was released by: Streetinsider.com and their article: “US tech sector getting by without Facebook and Alphabet” with publication date: October 02, 2018.

ServiceNow, Inc. (NYSE:NOW) Institutional Positions Chart

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