ServiceNow, Inc. (NYSE: NOW-Get Rating) Director Frederic B. Luddy sold 707 shares of ServiceNow stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $ 501.92, for a total value of $ 354,857.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link.
ServiceNow stock dropped $ 13.20 in mid -day trading on Thursday, reaching $ 492.22. The company had a trading volume of 952,403 shares, compared to its average volume of 1,810,026. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. ServiceNow, Inc. has a 12-month low of $ 406.47 and a 12-month high of $ 707.60. The company’s fifty-day moving average is $ 481.48 and its 200-day moving average is $ 549.72. The company has a market capitalization of $ 98.67 billion, a price-to-earnings ratio of 447.47, a P/E/G ratio of 10.27 and a beta of 1.09.
ServiceNow (NYSE: NOW-Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 0.47 EPS for the quarter, ahead of the consensus estimate of $ 0.34 of $ 0.13. 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 analyst estimates of $ 1.70 billion. In the same quarter last year, the company posted $ 0.50 EPS. Business quarterly revenue rose 26.6% compared to the same quarter last year. As a group, sell-side analysts expect ServiceNow, Inc. will post 1.73 EPS for the current financial year.
A number of equities analysts have commented on the NOW shares. Royal Bank of Canada reduced their target price on shares of ServiceNow from $ 700.00 to $ 660.00 and set an “outperform” rating for the company in a report on Monday, April 25th. Exane BNP Paribas downgraded ServiceNow shares from a “neutral” rating to an “underperform” rating in a report on Tuesday, March 29th. TheStreet downgraded ServiceNow shares from a “b-” rating to a “c+” rating in a report on Tuesday, April 26th. Credit Suisse Group reduced their target price on ServiceNow shares from $ 800.00 to $ 700.00 in a report on Thursday, April 28th. Finally, Mizuho reduced their target price on ServiceNow shares from $ 650.00 to $ 550.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Two equities research analysts rated the stock with a sell rating, three gave a hold rating and twenty-six gave a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Buy” and a consensus target price of $ 639.84.
Some institutional investors have recently increased or decreased their stakes to NOW. Edgewood Management LLC acquired a new position in shares of ServiceNow in the 1st quarter valued at approximately $ 1,515,281,000. Norges Bank acquired a new position on shares of ServiceNow in the 4th quarter valued at approximately $ 1,117,096,000. Allspring Global Investments Holdings LLC acquired a new position in shares of ServiceNow in the 4th quarter worth approximately $ 400,884,000. Fisher Asset Management LLC raised its stake in shares of ServiceNow by 164.8% in the 4th quarter. Fisher Asset Management LLC now owns 894,730 shares of the information technology services provider’s stock worth $ 580,778,000 after purchasing an additional 556,871 shares during the period. Finally, TD Asset Management Inc. its stake in ServiceNow shares was 84.7% in the 4th quarter. TD Asset Management Inc. now owns 1,207,201 shares of the information technology services provider’s stock worth $ 783,606,000 after purchasing an additional 553,517 shares during the period. Institutional investors and hedge funds 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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