Shares of ServiceNow, Inc. (NYSE: NOW – Get Rating) received an average “Buy” rating from thirty -two brokerages covering the company, Marketbeat reports. One analyst rated the stock with a hold rating and twenty-six assigned a buy rating to the company. The average 1-year price target among brokers that released a stock report last year was $ 694.07.
Several equities analysts commented on NOW shares. Robert W. Baird reduced their target price on ServiceNow shares from $ 650.00 to $ 600.00 in a research report on Thursday, January 27th. Royal Bank of Canada reduced their target price on ServiceNow shares from $ 785.00 to $ 700.00 in a research report on Monday, January 24th. Credit Suisse Group reduced their target price on ServiceNow shares from $ 850.00 to $ 800.00 and set an “outperform” rating for the company in a research report on Thursday, January 27th. Oppenheimer reduced their target price on ServiceNow shares from $ 775.00 to $ 660.00 and set an “outperform” rating for the company in a research report on Thursday, January 27th. Finally, BMO Capital Markets raised their target price on ServiceNow shares from $ 600.00 to $ 635.00 and gave the company an “outperform” rating in a research report on Thursday, January 27th.
NYSE NOW shares opened at $ 547.40 on Thursday. The company has a 50-day simple moving average of $ 554.30 and a 200-day simple moving average of $ 618.80. The company has a market capitalization of $ 109.48 billion, a P/E ratio of 480.18, a P/E/G ratio of 10.43 and a beta of 1.06. The company has a debt-to-equity ratio of 0.40, current ratio of 1.05 and quick ratio of 1.05. ServiceNow has a 1 year low of $ 448.27 and a 1 year high of $ 707.60.
ServiceNow (NYSE: NOW-Get Rating) last posted its earnings results on Wednesday, January 26th. The information technology service provider reported $ 1.46 revenue per share for the quarter, beating Thomson Reuters ’consensus estimate of $ 1.43 by $ 0.03. ServiceNow has a net margin of 3.90% and a return on equity of 9.43%. At the same time last year, the company posted $ 0.16 earnings per share. As a group, research analysts expect ServiceNow to post 1.87 EPS for the current year.
In related news, General Counsel Russell S. Elmer sold 2,092 shares of business stock in a transaction dated Monday, Feb. 7th. The shares were sold at an average price of $ 577.99, for a total transaction of $ 1,209,155.08. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. Also, CFO Gina Mastantuono sold 738 shares of the business’s stock in a transaction dated Monday, January 10th. The stock was sold at an average price of $ 550.10, for a total transaction of $ 405,973.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,386 shares of the company’s stock worth $ 23,239,132. Company insiders own 0.35% of the company’s stock.
Some hedge funds and other institutional investors have recently made changes to their business positions. Halbert Hargrove Global Advisors LLC lifted its holdings on shares of ServiceNow by 3.9% in the third 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 raised its position on shares of ServiceNow by 22.7% in the third 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 last quarter. Raised by Farmers & Merchants Investments Inc. its position in ServiceNow shares of 15.7% in the third 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 last quarter. Spearhead Capital Advisors LLC raised its position on shares of ServiceNow by 2.1% in the third 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 raised its position in the ServiceNow shares by 4.5% in the third 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. 86.63% of the stock is currently owned by institutional investors.
About ServiceNow (Get a Rating)
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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