ServiceNow (NYSE: NOW – Get a Rating) its price target was lowered by analysts at Piper Sandler from $ 650.00 to $ 600.00 in a report released Wednesday, The Fly reports. Piper Sandler’s price target points to a potential increase of 42.98% from the stock’s previous closing.
Several other research analysts have also weighed in recently on NOW. Truist Financial reduced their target price on ServiceNow shares from $ 700.00 to $ 600.00 in a research report on Tuesday, May 10th. Canaccord Genuity Group lowered their target price on ServiceNow from $ 715.00 to $ 615.00 and set a “buy” rating on the stock in a research report on Thursday, January 27th. Royal Bank of Canada reduced their price target on ServiceNow from $ 700.00 to $ 660.00 and set an “outperform” rating for the company in a research report on Monday, April 25th. Cowen lowered their price target on ServiceNow from $ 725.00 to $ 695.00 in a research report on Thursday, April 28th. Finally, StockNews.com began coverage on ServiceNow in a research note on Thursday, March 31st. They set a “hold” rating for the company. Two analysts rated the stock with a sell rating, three gave a hold rating and twenty-seven gave a buy rating to the stock. According to data from MarketBeat, the stock currently has an average “Buy” rating and an average price target of $ 651.75.
NOW shares opened at $ 419.65 on Wednesday. The company has a market cap of $ 84.12 billion, a PE ratio of 381.50, a P/E/G ratio of 8.35 and a beta of 1.09. ServiceNow has a 1-year low of $ 406.47 and a 1-year high of $ 707.60. 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 company has a fifty-day simple moving average of $ 502.40 and a two-hundred-day simple moving average of $ 564.28.
ServiceNow (NYSE: NOW-Get Rating) last announced its earnings results on Wednesday, April 27th. The information technology service provider reported $ 1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 1.70 of $ 0.03. ServiceNow has a return on equity of 8.66% and a net margin of 3.56%. The business had revenue of $ 1.72 billion for the quarter, compared to analysts ’expectations of $ 1.70 billion. In the same period last year, the company posted $ 0.50 profit per share. Business revenue for the quarter rose 26.6% on a year-over-year basis. As a group, research analysts predict that ServiceNow will post 1.8 EPS for the current financial year.
In other ServiceNow news, insider Paul John Smith sold 412 shares of the company’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $ 427.17, for a total value of $ 175,994.04. Following the completion of the sale, the insider now owns 1,755 shares of the company’s stock, valued at $ 749,683.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 580 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $ 431.51, for a total value of $ 250,275.80. Following the transaction, the insider now directly owns 189 shares in the company, valued at approximately $ 81,555.39. 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 currently owned by company insiders.
Some institutional investors and hedge funds have recently made changes to their positions NOW. Chilton Capital Management LLC bought a new position in ServiceNow in the 4th quarter worth approximately $ 25,000. Eagle Bay Advisors LLC boosted its holdings in ServiceNow shares by 75.0% in the third quarter. Eagle Bay Advisors LLC now owns 42 shares of the information technology services provider’s stock worth $ 27,000 after purchasing an additional 18 shares during the period. OLD Second National Bank of Aurora bought a new position in ServiceNow in the first quarter worth approximately $ 28,000. High Net Worth Advisory Group LLC bought a new position in ServiceNow in the 1st quarter worth $ 29,000. Finally, AHL Investment Management Inc. bought a new position. in shares of ServiceNow in the 4th quarter worth $ 35,000. Institutional investors own 87.20% 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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