ServiceNow (NYSE: NOW – Get a Rating) analysts at Citigroup reduced its target price from $ 675.00 to $ 623.00 in a research report provided to clients and investors on Tuesday, The Fly reports. Citigroup’s target price points to a potential increase of 25.22% from the company’s current price.
NOW has been the subject of several other reports. Canaccord Genuity Group cut their target price on ServiceNow shares from $ 715.00 to $ 615.00 in a research report on Thursday, January 27th. Credit Suisse Group cut 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. Bank of America cut their target price on ServiceNow shares from $ 725.00 to $ 680.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. Deutsche Bank Aktiengesellschaft reduced their price target on ServiceNow from $ 820.00 to $ 700.00 and set a “buy” rating on the stock in a research note on Friday, January 21st. Finally, Exane BNP Paribas downgraded ServiceNow from a “neutral” rating to an “underperform” rating in a research note on Tuesday, March 29th. Two analysts rated the stock with a sell rating, three gave a hold rating and twenty-seven gave a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has a consensus rating of “Buy” and a consensus target price of $ 684.84.
NOW opened at $ 497.53 on Tuesday. The company has a fifty-day moving average price of $ 554.83 and a 200-day moving average price of $ 601.35. The company has a market capitalization of $ 99.51 billion, a P/E ratio of 436.43, a price-to-earnings-growth ratio of 9.72 and a beta of 1.04. 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 one -year low of $ 448.27 and a one -year high of $ 707.60.
ServiceNow (NYSE: NOW-Get Rating) last announced its earnings results on Wednesday, January 26th. The information technology service provider reported $ 0.29 earnings per share (EPS) for the quarter, ahead of the consensus estimate of $ 0.22 of $ 0.07. ServiceNow has a net margin of 3.90% and a return on equity of 9.43%. The company had revenue of $ 1.61 billion in the quarter, compared to analyst estimates of $ 1.60 billion. In the same period last year, the business earned $ 0.16 revenue per share. On average, analysts expect ServiceNow to post 1.86 revenue per share for the current year.
In related news, Director Frederic B. Luddy sold 333 shares of ServiceNow stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $ 587.50, for a total transaction of $ 195,637.50. The transaction was disclosed in a document filed with the SEC, which can be accessed via this link. Also, COO Chirantan Jitendra Desai sold 3,000 shares of ServiceNow stock in a transaction that took place on Monday, February 14th. The shares were sold at an average price of $ 578.48, for a total value of $ 1,735,440.00. The disclosure for this sale can be found here. Insiders have sold 32,141 shares of the company’s stock worth $ 18,355,758 over the past three months. Insiders own 0.35% of the company’s stock.
Several hedge funds and other institutional investors have recently increased or decreased their stakes in NOW. CLARET ASSET MANAGEMENT Corp. bought a new stake in ServiceNow in the third quarter worth $ 204,000. The Public Sector Pension Investment Board boosted its holdings in ServiceNow by 7.9% in the third quarter. The Public Sector Pension Investment Board now owns 33,410 shares of the information technology services provider’s stock worth $ 20,790,000 after acquiring an additional 2,460 shares in the last quarter. DNB Asset Management AS boosted its holdings in ServiceNow by 6.7% in the fourth quarter. DNB Asset Management AS now owns 32,989 shares of the information technology services provider’s stock worth $ 21,413,000 after acquiring an additional 2,085 shares in the last quarter. ING Groep NV strengthened its holdings in ServiceNow by 3.7% in the third quarter. ING Groep NV now owns 16,822 shares of the information technology services provider’s stock worth $ 10,468,000 after acquiring an additional 605 shares in the last quarter. Finally, Lloyd Advisory Services LLC. strengthened its holdings in ServiceNow by 22.5% in the fourth quarter. Lloyd Advisory Services LLC. now owns 125 shares of the information technology services provider’s stock worth $ 81,000 after acquiring an additional 23 shares in the last quarter. Institutional investors own 86.63% of the company’s stock.
ServiceNow Company Profile (Get a Rating)
ServiceNow, Inc. provides enterprise cloud computing solutions that define, develop, integrate, manage, and automate services for businesses around the world. It runs the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
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