Stock Analysis:ServiceNow Inc (NYSE:NOW) Target Increased
In a comprehensive report sent to investors and clients by JMP Securities on 11 December, ServiceNow Inc (NYSE:NOW) had its target hiked to $97.00. The firm now has a solid Market Outperform rating on shares.
From a total of 25 analysts covering ServiceNow Inc (NYSE:NOW) stock, 24 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 89% of the ratings are positive. The highest target price is $110 while the lowest target price is $70. The mean of all analyst targets is $89.28 with a 7.96% above today’s ($84.6) stock price. ServiceNow Inc was the topic of 8 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. UBS maintained shares on December 2 with “Buy” rating. William Blair maintained NOW stock in a recent report from August 25 with “Buy” rating.
Approximately 615,648 shares of stock traded hands. ServiceNow Inc (NYSE:NOW) has risen 17.63% since May 8, 2015 and is uptrending. It has outperformed by 20.65% the S&P500.
The overall sentiment of institutions has decreased to 1.08 in Q2 2015. Its down 0.10, from 1.18 in 2015Q2. The ratio is negative, as 41 institutions have sold all the shares of ServiceNow Inc that they owned while 102 funds have taken shares off the table. 38 funds have purchased shares for the first time while 117 added to their positions. These institutions now hold 137.66 million shares or 1.25% less than the 139.40 million shares they owned in 2015Q2.
The Fund Criterion Capital Management Llc currently is holding shares equating to 6.62% of its total portfolio in ServiceNow Inc representing a total of 2.80 million shares. Another fund,Avalon Global Asset Management Llc, is holding a total of 96,000 shares equating to 4.81% of their holdings. Additionally, Magee Thomson Investment Partners Llc has a 193,500 share stake in ServiceNow Inc which represents 4.14% of their total portfolio. The Fund, Bennett Lawrence Management L L C Ny, based out of New York, has also built up a stake in the stock, which represents a total of 3.58% of their total portfolio. Finally Afton Capital Management Llc, a fund which is based in the state of North Carolina reported a total holdings of 15,000 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 4, 2015, shareholders of ServiceNow Inc have witnessed 0 buys, and a total of 37 insider sales equating to a net activity of approximately $198.86 million . Scarpelli Michael sold 40,000 shares worth approximately $3.00M. Luddy Frederic B sold 203,600 shares worth approximately $14.98M. Schneider David sold 10,000 shares worth approximately $746,253. Slootman Frank sold 125,000 shares worth approximately $8.68M. The company insider Mcgee Daniel sold 25,000 shares worth $1.75 million.
ServiceNow, Inc. is a provider of cloud solutions that define, structure, manage and automate services across the global enterprise. The company has a market cap of $13.77 billion. The Firm provides cloud service management solutions that address the needs of a range of departments within an organization, including IT, human resources , facilities, field service, marketing, legal and finance. It currently has negative earnings. It also provides business management and IT activities management solutions that facilitate the delivery of services across the enterprise.
According to Zacks Investment Research, “ServiceNow, Inc. provides cloud-based services that automate enterprise IT operations. The Company’s service includes a suite of applications built on its platform that automates workflow and integrates related business processes. It focuses on transforming enterprise IT by automating and standardizing business processes and consolidating IT across the global enterprise. ServiceNow, Inc. is based in San Diego, California.” Get a free copy of the Zacks research report on ServiceNow Inc (NOW).