Is Buying 52-Week Stock Like ServiceNow, Inc. (NOW) a Winning Strategy?

January 23, 2018 - By Jan Rainey

Investors sentiment increased to 1.38 in 2017 Q3. Its up 0.15, from 1.23 in 2017Q2. It increased, as 23 investors sold ServiceNow, Inc. shares while 115 reduced holdings. 61 funds opened positions while 130 raised stakes. 170.65 million shares or 1.96% more from 167.38 million shares in 2017Q2 were reported.
Zevenbergen Cap Investments Ltd Liability Co accumulated 469,975 shares. Glaxis Capital Management Ltd Co owns 5,200 shares. Commonwealth Equity Serv Inc has invested 0% in ServiceNow, Inc. (NYSE:NOW). Northern holds 965,272 shares. Winslow Management Llc has 2.34 million shares for 1.48% of their portfolio. Blackrock Incorporated holds 0.05% or 8.34M shares. American National Registered Invest Advisor accumulated 4,019 shares. Atalanta Sosnoff Capital Limited Com has invested 0.01% in ServiceNow, Inc. (NYSE:NOW). Janney Montgomery Scott Limited Com has 10,705 shares. Pub Employees Retirement Systems Of Ohio holds 0.04% of its portfolio in ServiceNow, Inc. (NYSE:NOW) for 70,476 shares. Winfield Associates holds 0.02% of its portfolio in ServiceNow, Inc. (NYSE:NOW) for 244 shares. Bamco New York owns 65,585 shares. Cornerstone Inc owns 0.11% invested in ServiceNow, Inc. (NYSE:NOW) for 1,405 shares. Alexandria Cap Limited Liability Com invested in 81 shares. Shearlink Ltd Liability stated it has 145,690 shares or 6.82% of all its holdings.

Since August 1, 2017, it had 0 insider buys, and 10 selling transactions for $131.38 million activity. Scarpelli Michael sold 75,000 shares worth $8.08 million. 150,000 shares valued at $17.31M were sold by Slootman Frank on Friday, September 1. Schneider David sold 16,349 shares worth $1.75M.

The stock of ServiceNow, Inc. (NYSE:NOW) hit a new 52-week high and has $157.55 target or 9.00 % above today’s $144.54 share price. The 8 months bullish chart indicates low risk for the $24.96 billion company. The 1-year high was reported on Jan, 23 by Barchart.com. If the $157.55 price target is reached, the company will be worth $2.25 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.44% or $0.64 during the last trading session, reaching $144.54. About 722,023 shares traded. ServiceNow, Inc. (NYSE:NOW) has risen 42.37% since January 23, 2017 and is uptrending. It has outperformed by 25.67% the S&P500.

Analysts await ServiceNow, Inc. (NYSE:NOW) to report earnings on January, 24. They expect $-0.06 earnings per share, up 60.00 % or $0.09 from last year’s $-0.15 per share. After $-0.06 actual earnings per share reported by ServiceNow, Inc. for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

ServiceNow, Inc. (NYSE:NOW) Ratings Coverage

Among 40 analysts covering ServiceNow Inc (NYSE:NOW), 33 have Buy rating, 0 Sell and 7 Hold. Therefore 83% are positive. ServiceNow Inc had 98 analyst reports since July 21, 2015 according to SRatingsIntel. The stock has “Buy” rating by Canaccord Genuity on Thursday, October 26. The firm earned “Overweight” rating on Friday, April 1 by Piper Jaffray. As per Thursday, July 27, the company rating was maintained by Oppenheimer. The firm has “Buy” rating given on Thursday, June 1 by Canaccord Genuity. The firm has “Buy” rating given on Sunday, October 1 by RBC Capital Markets. Robert W. Baird maintained ServiceNow, Inc. (NYSE:NOW) rating on Thursday, October 26. Robert W. Baird has “Buy” rating and $140.0 target. The firm earned “Outperform” rating on Thursday, April 21 by Robert W. Baird. The company was maintained on Thursday, October 12 by BMO Capital Markets. Mizuho initiated the stock with “Buy” rating in Monday, January 22 report. Piper Jaffray maintained ServiceNow, Inc. (NYSE:NOW) on Monday, October 16 with “Hold” rating.

ServiceNow, Inc. provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company has market cap of $24.96 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.

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