ServiceNow, Inc. (NYSE: NOW)-Stock analysts at Truist Financial lowered their earnings estimates to FY2022 for ServiceNow in a research report released on Tuesday, January 18th. Truist Financial analyst J. Fishbein now forecasts that the information technology service provider will post earnings per share of $ 1.85 for the year, down from their previous forecast of $ 2.18. Truist Financial has a “Buy” rating and a $ 700.00 price target on the stock.
ServiceNow (NYSE: NOW) last announced its quarterly earnings results on Wednesday, October 27th. The information technology service provider reported $ 1.55 EPS for the quarter, beating Zacks ’consensus estimate of $ 1.39 by $ 0.16. ServiceNow had a return on equity of 9.31% and a net margin of 3.99%. The company had revenue of $ 1.51 billion in the quarter, compared to analysts ’expectations of $ 1.48 billion. In the same period last year, the company earned $ 0.30 EPS. ServiceNow’s revenue rose 31.3% compared to the same quarter last year.
A number of other research analysts have commented recently on NOW. Deutsche Bank Aktiengesellschaft lowered their target price on ServiceNow from $ 820.00 to $ 700.00 and set a “buy” rating for the company in a research note on Friday. JMP Securities raised their target price on ServiceNow from $ 639.00 to $ 705.00 and gave the stock a “market outperform” rating in a research report on Monday, October 11th. Morgan Stanley raised their target price on ServiceNow from $ 796.00 to $ 807.00 and gave the stock an “overweight” rating in a research report on Thursday, October 28th. raised their target price on ServiceNow from $ 650.00 to $ 715.00 and gave the stock a “buy” rating in a research report on Thursday, October 28th. Finally, Citigroup lowered their price target on ServiceNow from $ 770.00 to $ 657.00 in a research report on Thursday. Three investment analysts rated the stock with a hold rating, twenty-eight gave a buy rating and one assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $ 711.67.
NOW shares opened at $ 507.74 on Thursday. ServiceNow has a 52 week low of $ 448.27 and a 52 week high of $ 707.60. The stock has a market capitalization of $ 101.04 billion, a price-to-earnings ratio of 465.82, a PEG ratio of 9.60 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a fifty-day moving average of $ 619.42 and a 200-day moving average of $ 624.76.
In other ServiceNow news, CFO Gina Mastantuono sold 66 shares of ServiceNow stock in a transaction that took place on Tuesday, November 9th. The shares were sold at an average price of $ 695.31, for a total transaction of $ 45,890.46. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Also, Director Jeffrey A. Miller sold 5,000 shares of ServiceNow stock in a transaction that occurred on Friday, October 29th. The stock was sold at an average price of $ 692.87, for a total transaction of $ 3,464,350.00. The disclosure for this sale can be found here. Over the past 90 days, insiders have sold 24,655 shares of the company’s stock worth $ 15,161,081. 0.35% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of NOW. Sugarloaf Wealth Management LLC lifted its position in ServiceNow shares by 150.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the information technology services provider’s stock worth $ 25,000 after buying an additional 24 shares in the last quarter. Eagle Bay Advisors LLC raised its holdings in ServiceNow shares by 75.0% in the 3rd quarter. Eagle Bay Advisors LLC now owns 42 shares of the information technology services provider’s stock worth $ 27,000 after purchasing an additional 18 shares during the period. Baystate Wealth Management LLC raised its holdings in ServiceNow shares by 60.0% in the 3rd quarter. Baystate Wealth Management LLC now owns 48 shares of the information technology services provider’s stock worth $ 30,000 after purchasing an additional 18 shares during the period. PFG Private Wealth Management LLC bought a new stake in shares of ServiceNow in the 3rd quarter worth approximately $ 31,000. Finally, MV Capital Management Inc. its holdings in ServiceNow shares of 96.2% in the 3rd quarter. MV Capital Management Inc. now owns 51 shares of the information technology services provider’s stock worth $ 32,000 after purchasing an additional 25 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.
ServiceNow Company Profile
ServiceNow, Inc. is engaged in providing enterprise cloud computing solutions. The company delivers digital workflows on an enterprise cloud platform called Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products. .
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