ServiceNow (NYSE: NOW – Get a Rating) equities researchers at Mizuho lowered its target price from $ 650.00 to $ 550.00 in a research report released Wednesday, The Fly reports. Mizuho’s price target indicates a potential increase of 31.06% from the company’s previous closure.
NOW has been the subject of many other reports. Barclays reduced their target price on ServiceNow shares from $ 652.00 to $ 613.00 in a research note on Thursday, April 28th. Jefferies Financial Group cut their target price on ServiceNow from $ 700.00 to $ 550.00 in a research note on Monday. StockNews.com began coverage on ServiceNow in a research note on Thursday, March 31st. They gave a “hold” rating to the stock. Exane BNP Paribas downgraded ServiceNow shares from a “neutral” rating to an “underperform” rating in a research report on Tuesday, March 29th. Finally, Canaccord Genuity Group cut their price target on ServiceNow from $ 715.00 to $ 615.00 and set a “buy” rating on the stock in a research report on Thursday, January 27th. Two investment analysts rated the stock with a sell rating, three gave a hold rating and twenty-seven assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average “Buy” rating and an average target price of $ 648.63.
NYSE NOW shares opened at $ 419.65 on Wednesday. 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 50-day moving average of $ 502.40 and a 200-day moving average of $ 564.28. ServiceNow has a 12-month low of $ 406.47 and a 12-month high of $ 707.60. The stock 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 (NYSE: NOW-Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 1.73 EPS for the quarter, ahead of analysts ’consensus estimates of $ 1.70 of $ 0.03. The company had revenue of $ 1.72 billion for the quarter, compared to the agreed $ 1.70 billion. ServiceNow has a return on equity of 8.66% and a net margin of 3.56%. The company’s revenue rose 26.6% compared to the same quarter last year. In the same quarter last year, the business posted $ 0.50 revenue per share. On average, sell-side analysts predict that ServiceNow will post 1.8 EPS for the current financial year.
In other news, COO Chirantan Jitendra Desai sold 5,000 shares of stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $ 575.44, for a total value of $ 2,877,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, available on the SEC website. Also, Director Teresa Briggs sold 932 shares of the company’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $ 490.26, for a total value of $ 456,922.32. Following the sale, the director now owns 707 shares in the company, valued at $ 346,613.82. The disclosure for this sale can be found here. Insiders have sold a total of 18,428 shares of the company’s stock worth $ 10,195,278 over the past ninety days. 0.35% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions NOW. Raised by Vanguard Group Inc. its stake in ServiceNow was 1.9% in the 1st quarter. Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock worth $ 9,074,862,000 after purchasing an additional 306,106 shares during the period. Powered by BlackRock Inc. its holdings in ServiceNow were up 0.4% in the fourth quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $ 10,509,544,000 after buying an additional 65,623 shares in the last quarter. State Street Corp increased its stake in ServiceNow by 3.2% in the 4th quarter. State Street Corp. now owns 7,870,165 shares of the information technology services provider’s stock worth $ 5,108,603,000 after buying an additional 241,296 shares in the last quarter. Morgan Stanley increased its holdings in ServiceNow by 1.2% in the 2nd quarter. Morgan Stanley now owns 7,277,395 shares of the information technology services provider’s stock worth $ 3,999,292,000 after buying an additional 86,441 shares last quarter. Finally, Polen Capital Management LLC increased its stake in ServiceNow shares by 2.1% in the 1st quarter. Polen Capital Management LLC now owns 3,219,600 shares of the information technology services provider’s stock worth $ 1,792,963,000 after buying an additional 67,385 shares last quarter. Institutional investors and hedge funds own 87.20% 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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