ServiceNow (NYSE: NOW – Get a Rating) equities researchers reduced its target price at Jefferies Financial Group from $ 700.00 to $ 550.00 in a research note released Monday, The Fly reports. Jefferies Financial Group’s price target points to a potential increase of 26.72% from the current stock price.
Other analysts have also released research reports about the stock. Deutsche Bank Aktiengesellschaft reduced their target price on ServiceNow shares from $ 700.00 to $ 680.00 in a research report on Thursday, April 28th. Mizuho boosted their price target on ServiceNow shares from $ 615.00 to $ 650.00 and gave the stock a “buy” rating in a research report on Thursday, January 27th. Citigroup boosted their price target on ServiceNow shares from $ 623.00 to $ 656.00 in a research report on Thursday, April 28th. Morgan Stanley reduced their target price on ServiceNow shares to $ 594.00 and set an “already” rating for the company in a research report on Wednesday, May 18th. Finally, Canaccord Genuity Group reduced their target price on ServiceNow shares from $ 715.00 to $ 615.00 in a research note on Thursday, January 27th. Two analysts rated the stock with a sell rating, three issued a hold rating and twenty-seven gave a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has an average “Buy” rating and a consensus target price of $ 653.31.
NYSE: NOW opened at $ 434.04 on Monday. The company has a fifty-day simple moving average of $ 506.64 and a two-hundred-day simple moving average of $ 567.14. The company has a market cap of $ 87.01 billion, a price-to-earnings ratio of 394.58, a price-to-earnings-growth ratio of 8.35 and a beta of 1.09. The company has a fast ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37. ServiceNow has a 52 week low of $ 406.47 and a 52 week high of $ 707.60.
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, beating the consensus estimate of $ 1.70 by $ 0.03. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The company had revenue of $ 1.72 billion in the quarter, compared to the consolidated $ 1.70 billion. In the same quarter last year, the company posted $ 0.50 earnings per share. ServiceNow’s revenue for the quarter rose 26.6% on a year-over-year basis. On average, analysts expect ServiceNow to post 1.8 EPS for the current year.
In related news, COO Chirantan Jitendra Desai sold 5,000 shares of ServiceNow stock in a transaction that took place on Monday, February 28th. The shares were sold at an average price of $ 575.44, for a total transaction of $ 2,877,200.00. The transaction is disclosed in a document filed with the SEC, which is accessible via this hyperlink. Also, insider Lara Caimi sold 3,058 shares of ServiceNow stock in a transaction that took place on Thursday, February 24th. The stock was sold at an average price of $ 575.00, for a total transaction of $ 1,758,350.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,428 shares of the company’s stock worth $ 10,195,278. 0.35% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their business positions. CLARET ASSET MANAGEMENT Corp. acquired a new stake in shares of ServiceNow in the third quarter worth approximately $ 204,000. DNB Asset Management AS increased 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 buying an additional 2,085 shares last quarter. Lloyd Advisory Services LLC. increased 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 buying an additional 23 shares last quarter. Zacks Investment Management increased its holdings in ServiceNow by 1,453.0% in the third quarter. Zacks Investment Management now owns 13,511 shares of the information technology services provider’s stock worth $ 8,408,000 after buying an additional 12,641 shares last quarter. Finally, the New York State Teachers Retirement System increased its holdings in ServiceNow by 0.3% in the fourth quarter. The New York State Teachers Retirement System now owns 225,098 shares of the information technology services provider’s stock worth $ 146,113,000 after buying an additional 767 shares last quarter. 87.20% of the stock is currently owned by hedge funds and other institutional investors.
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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