ServiceNow (NYSE: NOW – Get a Rating) Truist Financial reduced its price target from $ 700.00 to $ 600.00 in a research note issued to investors on Tuesday, The Fly reports. Truist Financial’s price target suggests a potential increase of 40.89% from the current stock price.
Some other analysts have also weighed in recently on NOW. Canaccord Genuity Group lowered their price target on ServiceNow from $ 715.00 to $ 615.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. Credit Suisse Group lowered their price target on ServiceNow from $ 800.00 to $ 700.00 in a research report on Thursday, April 28th. KeyCorp lowered their price target on ServiceNow from $ 692.00 to $ 613.00 and set an “overweight” rating for the company in a research report on Monday, April 25th. TheStreet cut ServiceNow from a “b-” rating to a “c+” rating in a research report on Tuesday, April 26th. Finally, Robert W. Baird lowered their target price on ServiceNow from $ 650.00 to $ 600.00 in a research report on Thursday, January 27th. Two research analysts rated the stock with a sell rating, three gave a hold rating and twenty-seven assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average “Buy” rating and an average target price of $ 664.74.
NYSE NOW shares opened at $ 425.87 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $ 85.37 billion, a PE ratio of 387.15, a price-to-earnings-growth ratio of 8.94 and a beta of 1.09. The stock’s fifty-day simple moving average is $ 525.81 and its two-hundred-day simple moving average is $ 583.32. ServiceNow has a 12-month low of $ 422.61 and a 12-month high of $ 707.60.
ServiceNow (NYSE: NOW-Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 1.73 revenue per share for the quarter, ahead of analysts ’consensus estimates of $ 1.70 of $ 0.03. The company had revenue of $ 1.72 billion in the quarter, compared to analysts ’expectations of $ 1.70 billion. ServiceNow has a return on equity of 8.66% and a net margin of 3.56%. Business revenue in the quarterly rose 26.6% on a year-over-year basis. In the same quarter last year, the company earned $ 0.50 EPS. On average, equities analysts predict that ServiceNow will post 1.8 earnings per share for the current financial year.
In related news, COO Chirantan Jitendra Desai sold 3,000 shares of stock in a transaction on Monday, February 14th. The stock was sold at an average price of $ 578.48, for a total value of $ 1,735,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Also, Director Teresa Briggs sold 932 shares of the stock in a transaction on Friday, April 29th. The shares were sold at an average price of $ 490.26, for a total value of $ 456,922.32. Following the completion of the transaction, the director now directly owns 707 shares of the company’s stock, valued at $ 346,613.82. The disclosure for this sale can be found here. Insiders have sold 21,427 shares of the company’s stock worth $ 12,082,344 over the past ninety days. Corporate insiders own 0.35% of the company’s stock.
Some hedge funds and other institutional investors have recently bought and sold shares of the stock. Chilton Capital Management LLC acquired a new stake in shares of ServiceNow in the 4th quarter worth $ 25,000. Eagle Bay Advisors LLC raised its stake 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 acquiring an additional 18 shares in the last quarter. MV Capital Management Inc. raised its stake in ServiceNow shares by 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 acquiring an additional 25 shares last quarter. AHL Investment Management Inc. acquired a new stake in shares of ServiceNow in the 4th quarter worth approximately $ 35,000. Finally, Lee Financial Co increased its position in ServiceNow shares by 671.4% in the 4th quarter. Lee Financial Co. now owns 54 shares of the information technology services provider’s stock worth $ 35,000 after buying an additional 47 shares last quarter. 87.20% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
Receive News and Ratings for ServiceNow Daily -Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for ServiceNow and related companies with a FREE daily email newsletter of MarketBeat.com.
.