ServiceNow (NYSE: NOW – Get a Rating) stock analysts at Stifel Nicolaus reduced its target price from $ 650.00 to $ 550.00 in a note issued to investors on Wednesday, The Fly reports. Stifel Nicolaus’s price target would suggest a potential increase of 31.06% from the stock’s previous closing.
Several other equities research analysts have recently released reports on NOW. Bank of America lowered their target price on ServiceNow from $ 725.00 to $ 680.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. TheStreet downgraded ServiceNow from a “b-” rating to a “c+” rating in a research report on Tuesday, April 26th. Truist Financial lowered their price target on ServiceNow from $ 700.00 to $ 600.00 in a research report on Tuesday, May 10th. Cowen reduced their price target on ServiceNow from $ 725.00 to $ 695.00 in a research note on Thursday, April 28th. Finally, Piper Sandler reduced their price target on ServiceNow from $ 650.00 to $ 600.00 in a research note on Wednesday. Two research analysts rated the stock with a sell rating, three gave a hold rating and twenty-seven gave a buy rating to the stock. Based on data from MarketBeat, the company currently has an average “Buy” rating and an average target price of $ 643.16.
NYSE: NOW shares opened at $ 419.65 on Wednesday. The company has a market cap of $ 84.12 billion, a P/E ratio of 381.50, a P/E/G 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. The business has a fifty-day simple moving average of $ 502.40 and a 200-day simple moving average of $ 564.28.
ServiceNow (NYSE: NOW-Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The information technology service provider reported $ 1.73 earnings per share (EPS) for the quarter, beating analysts ’consensus estimates of $ 1.70 by $ 0.03. ServiceNow has a return on equity of 8.66% and a net margin of 3.56%. 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 business earned $ 0.50 revenue per share. The company’s quarterly revenue rose 26.6% compared to the same quarter last year. Sell-side analysts expect ServiceNow to post 1.8 earnings per share for the current financial year.
In other news, insider Lara Caimi sold 3,058 shares of the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul John Smith sold 125 shares of the company’s stock in a transaction that took place on Friday, May 13th. The shares were sold at an average price of $ 446.04, for a total value of $ 55,755.00. Following the transaction, the insider now directly owns 1,446 shares of the company’s stock, valued at $ 644,973.84. The disclosure for this sale can be found here. Insiders have sold 18,428 shares of the company’s stock worth $ 10,195,278 over the past 90 days. 0.35% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. M Holdings Securities Inc. bought a new position in shares of ServiceNow in the first quarter worth approximately $ 372,000. Advisory Services Network LLC increased its holdings in ServiceNow shares by 68.2% in the first quarter. Advisory Services Network LLC now owns 10,318 shares of the information technology services provider’s stock worth $ 5,746,000 after buying an additional 4,182 shares last quarter. EP Wealth Advisors LLC increased its holdings in ServiceNow shares by 56.5% in the first quarter. EP Wealth Advisors LLC now owns 1,077 shares of the information technology services provider’s stock worth $ 600,000 after buying an additional 389 shares in the last quarter. Manufacturers Life Insurance Company increased its holdings in ServiceNow shares by 55.4% in the first quarter. Manufacturers Life Insurance Company now owns 238,412 shares of the information technology services provider’s stock worth $ 134,313,000 after buying an additional 85,030 shares last quarter. Finally, Toroso Investments LLC increased its holdings in ServiceNow by 1.1% in the 1st quarter. Toroso Investments LLC now owns 7,804 shares of the information technology services provider’s stock worth $ 4,346,000 after buying an additional 86 shares in the last quarter. 87.20% of the stock is owned by 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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