ServiceNow (NYSE: NOW – Get a Rating) its price target was lowered by analysts at Barclays from $ 652.00 to $ 613.00 in a research note released on Thursday, The Fly reports. Barclays ’price target would indicate a potential increase of 31.46% from the company’s previous closure.
Several other research analysts have also recently released reports on NOW. Credit Suisse Group lowered their price target on ServiceNow from $ 850.00 to $ 800.00 and set an “outperform” rating for the company in a research report on Thursday, January 27th. BNP Paribas downgraded ServiceNow from a “neutral” rating to an “underperform” rating and set a $ 460.00 target price for the company. in a report on Tuesday, March 29th. StockNews.com began coverage on ServiceNow in a report on Thursday, March 31st. They issued a “hold” rating for the company. Canaccord Genuity Group reduced their price target on ServiceNow from $ 715.00 to $ 615.00 in a report on Thursday, January 27th. Finally, Morgan Stanley boosted their price target on ServiceNow from $ 807.00 to $ 810.00 and gave the company an “overweight” rating in a report on Thursday, January 27th. Two analysts rated the stock with a sell rating, three issued a hold rating and twenty-seven gave the stock a buy rating. Based on data from MarketBeat, the stock has an average “Buy” rating and a consensus target price of $ 676.23.
NYSE: NOW opened at $ 466.29 on Thursday. The stock has a 50-day simple moving average of $ 539.66 and a 200-day simple moving average of $ 594.68. The stock has a market cap of $ 93.26 billion, a P/E ratio of 409.03, a P/E/G ratio of 9.42 and a beta of 1.04. ServiceNow has a 1 year low of $ 448.27 and a 1 year high of $ 707.60. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.05 and a current ratio of 1.05.
ServiceNow (NYSE: NOW-Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 1.73 earnings per share (EPS) for the quarter, ahead of Thomson Reuters ’consensus estimate of $ 1.70 of $ 0.03. The business had revenue of $ 1.72 billion in the quarter, compared to analysts ’expectations of $ 1.70 billion. ServiceNow had a return on equity of 9.43% and a net margin of 3.90%. Business quarterly revenue rose 26.6% compared to the same quarter last year. At the same time last year, the company posted $ 0.50 EPS. On average, equities research analysts predict that ServiceNow will post 1.85 EPS for the current year.
In related news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 8th. The stock was sold at an average price of $ 582.16, for a total value of $ 3,842,256.00. The transaction was disclosed in a legal filing with the SEC, available at this link. Also, General Counsel Russell S. Elmer sold 2,092 shares of the company’s stock in a transaction that occurred on Monday, February 7th. The stock was sold at an average price of $ 577.99, for a total value of $ 1,209,155.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,141 shares of the company’s stock worth $ 18,355,758. Insiders own 0.35% of the company’s stock.
Large investors have recently made changes to their business positions. CLARET ASSET MANAGEMENT Corp. acquired a new stake in ServiceNow in the 3rd quarter worth $ 204,000. The Public Sector Pension Investment Board raised its position on shares of ServiceNow by 7.9% in the 3rd 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 purchasing an additional 2,460 shares during the period. DNB Asset Management AS raised its position in ServiceNow shares by 6.7% in the 4th quarter. DNB Asset Management AS now owns 32,989 shares of the information technology services provider’s stock worth $ 21,413,000 after purchasing an additional 2,085 shares during the period. Lloyd Advisory Services LLC. raised its position in ServiceNow shares by 22.5% in the 4th quarter. Lloyd Advisory Services LLC. now owns 125 shares of the information technology services provider’s stock worth $ 81,000 after buying an additional 23 shares during the period. Finally, Zacks Investment Management raised its position in ServiceNow shares by 1,453.0% in the 3rd quarter. Zacks Investment Management now owns 13,511 shares of the information technology services provider’s stock worth $ 8,408,000 after purchasing an additional 12,641 shares during the period. Hedge funds and other institutional investors own 86.63% of the company’s stock.
About ServiceNow (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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