ServiceNow (NYSE: NOW) Oppenheimer reduced its price target from $ 775.00 to $ 660.00 in a research report released Thursday morning, The Fly reports. Oppenheimer currently has an outperform rating on the information technology service provider’s stock.
Several other brokerages have also recently released reports on NOW. FBN Securities raised their target price on shares of ServiceNow from $ 650.00 to $ 700.00 and gave the stock an outperform rating in a research note on Thursday, October 28th. Barclays reduced their target price on ServiceNow shares from $ 680.00 to $ 652.00 and set an overweight rating for the company in a research note on Thursday. JMP Securities raised their price target on shares of ServiceNow from $ 639.00 to $ 705.00 and gave the stock market an outperform rating in a report on Monday, October 11th. Credit Suisse Group cut their price target on ServiceNow shares from $ 850.00 to $ 800.00 and set an outperform rating on the stock in a report on Thursday. Finally, Mizuho raised their price target on shares of ServiceNow from $ 615.00 to $ 650.00 and gave the stock a buy rating in a report on Thursday. Two investment analysts rated the stock with a hold rating and twenty-eight gave a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has an average Buy rating and an average target price of $ 694.07.
The NYSE NOW opened at $ 561.08 on Thursday. ServiceNow has a one -year low of $ 448.27 and a one -year high of $ 707.60. The firm has a 50-day simple moving average of $ 603.09 and a 200-day simple moving average of $ 623.72. 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 company has a market cap of $ 111.65 billion, a price-to-earnings ratio of 514.75, a PEG ratio of 9.60 and a beta of 1.01.
ServiceNow (NYSE: NOW) last released its quarterly earnings results on Wednesday, January 26th. The information technology service provider reported $ 1.46 earnings per share (EPS) for the quarter, ahead of analysts ’consensus estimates of $ 1.43 of $ 0.03. ServiceNow has a net margin of 3.99% and a return on equity of 9.31%. In the same period last year, the company earned $ 0.16 profit per share. Equities analysts predict that ServiceNow will post 1.39 EPS for the current financial year.
In related news, Director Dennis Woodside bought 2,861 shares of the company’s stock in a transaction on Monday, Nov. 8th. The shares were purchased at an average value of $ 694.58 per share, for a total transaction of $ 1,987,193.38. The purchase was disclosed in a legal filing with the SEC, accessible via this link. Also, CFO Gina Mastantuono sold 66 shares of the business’s stock in a transaction on Tuesday, November 9th. The stock was sold at an average price of $ 695.31, for a total transaction of $ 45,890.46. The disclosure for this sale can be found here. Insiders have sold a total of 19,655 shares of the company’s stock worth $ 11,696,731 over the past three months. 0.35% of the stock is currently owned by corporate insiders.
Some hedge funds and other institutional investors have recently changed their holdings in the business. Halbert Hargrove Global Advisors LLC strengthened its position in the ServiceNow shares by 3.9% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 431 shares of the information technology services provider’s stock worth $ 268,000 after buying an additional 16 shares in the last quarter. Newfound Research LLC strengthened its position in ServiceNow shares by 22.7% in the 3rd quarter. Newfound Research LLC now owns 92 shares of the information technology services provider’s stock worth $ 57,000 after buying an additional 17 shares in the last quarter. Powered by Farmers & Merchants Investments Inc. its position in ServiceNow shares of 15.7% in the 3rd quarter. Farmers & Merchants Investments Pvt. now owns 133 shares of the information technology services provider’s stock worth $ 83,000 after buying an additional 18 shares in the last quarter. Spearhead Capital Advisors LLC strengthened its position on shares of ServiceNow by 2.1% in the 3rd quarter. Spearhead Capital Advisors LLC now owns 861 shares of the information technology services provider’s stock worth $ 536,000 after buying an additional 18 shares in the last quarter. Finally, Nwam LLC strengthened its position in ServiceNow shares by 4.5% in the 3rd quarter. Nwam LLC now owns 415 shares of the information technology services provider’s stock worth $ 258,000 after buying an additional 18 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.
About ServiceNow
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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