ServiceNow (NYSE: NOW – Get a Rating) the target price was lowered by analysts at UBS Group to $ 570.00 in a report released on Wednesday, the Stock Target Advisor reported. UBS Group’s price target suggests a potential increase of 25.93% from the current stock price.
Several other analysts have recently released reports on the company. Cowen reduced their target price on ServiceNow from $ 725.00 to $ 695.00 in a research report on Thursday, April 28th. StockNews.com reported coverage on ServiceNow in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley reduced their target price on ServiceNow to $ 594.00 and set an “already” rating for the company in a research report on Wednesday, May 18th. Truist Financial reduced their target price on ServiceNow from $ 700.00 to $ 600.00 in a research report on Tuesday, May 10th. Finally, TheStreet cut ServiceNow from a “b-” rating to a “c+” rating in a research report on Tuesday, April 26th. Two analysts rated the stock with a sell rating, three issued a hold rating and twenty-seven assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $ 638.59.
NOW shares traded $ 32.97 on Wednesday, reaching $ 452.62. 106,671 shares of the company’s stock traded hands, compared to its average volume of 1,824,006. 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 cap of $ 90.73 billion, a PE ratio of 411.43, a PEG ratio of 8.35 and a beta of 1.09. The stock’s 50-day simple moving average is $ 502.40 and its two-hundred-day simple moving average is $ 564.28. 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 results on Wednesday, April 27th. The information technology service provider reported $ 1.73 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 agreed $ 1.70 billion. At the same time last year, the business posted $ 0.50 revenue per share. ServiceNow’s revenue increased 26.6% on a year-on-year basis. Analysts predicted that ServiceNow will post 1.8 revenue per share for the current year.
In related news, insider Paul John Smith sold 412 shares of the business’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $ 427.17, for a total transaction of $ 175,994.04. Following the transaction, the insider now owns 1,755 shares in the company, valued at approximately $ 749,683.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frederic B. Luddy sold 6,600 shares of business stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $ 556.81, for a total value of $ 3,674,946.00. Following the transaction, the director now owns 707 shares in the company, valued at approximately $ 393,664.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,428 shares of the company’s stock worth $ 10,195,278. 0.35% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Chilton Capital Management LLC bought a new position in shares of ServiceNow in the 4th quarter worth approximately $ 25,000. Eagle Bay Advisors LLC increased its holdings 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 during the period. OLD Second National Bank of Aurora bought a new position in shares of ServiceNow in the 1st quarter worth approximately $ 28,000. High Net Worth Advisory Group LLC bought a new position in shares of ServiceNow in the 1st quarter worth approximately $ 29,000. Finally, AHL Investment Management Inc. bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $ 35,000. Hedge funds and other institutional investors 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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