Sanford C. Bernstein began covering parts of ServiceNow (NYSE: NOW – Get a Rating) in a research report provided to clients and investors on Tuesday, The Fly reports. The company set a rating of “surpassed” on the stock of the information technology service provider.
Other equities analysts have also recently released research reports about the stock. KeyCorp reduced their target price on ServiceNow shares from $ 692.00 to $ 613.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. Truist Financial reduced their target price on ServiceNow shares from $ 700.00 to $ 600.00 in a research report on Tuesday, May 10th. Stifel Nicolaus reduced their target price on ServiceNow shares from $ 650.00 to $ 550.00 in a research report on Wednesday, May 25th. TheStreet cut ServiceNow shares from a “b-” rating to a “c+” rating in a report on Tuesday, April 26th. Finally, Barclays cut their target price on shares of ServiceNow from $ 613.00 to $ 560.00 and set an “overweight” rating on the stock in a report on Monday. Two analysts rated the stock with a sell rating, two gave a hold rating and twenty-seven gave a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $ 632.97.
ServiceNow Stock Up 2.2 %
NYSE: NOW traded up $ 9.20 on Tuesday, reaching $ 435.94. The stock had a trading volume of 1,421,863 shares, compared to its average volume of 1,624,605. 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 $ 461.25 and a 200-day moving average of $ 513.76. The stock has a market cap of $ 87.39 billion, a P/E ratio of 396.31, a price-to-earnings-growth ratio of 8.90 and a beta of 1.03. ServiceNow has a 12-month low of $ 406.47 and a 12-month high of $ 707.60.
ServiceNow (NYSE: NOW-Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 0.47 revenue per share for the quarter, beating analysts ’consensus estimates of $ 0.34 by $ 0.13. The company had revenue of $ 1.72 billion in the quarter, compared to analysts ’expectations of $ 1.70 billion. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The company’s revenue for the quarter rose 26.6% on a year-over-year basis. In the same period last year, the company posted $ 0.50 EPS. On average, research analysts predict that ServiceNow will post 1.71 revenue per share for the current year.
Insider activity on ServiceNow
In related news, insider Christopher Bedi sold 495 shares of the company’s stock in a transaction that took place on Friday, April 29th. The shares were sold at an average price of $ 489.18, for a total transaction of $ 242,144.10. Following the transaction, the insider now owns 12,977 shares in the company, valued at $ 6,348,088.86. The transaction is disclosed in a document filed with the Securities & Exchange Commission, available via this hyperlink. In related news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction that took place on Thursday, July 7th. The shares were sold at an average price of $ 497.01, for a total transaction of $ 3,280,266.00. Following the completion of the sale, the director now directly owns 33,600 shares in the company, valued at $ 16,699,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this link. Also, insider Christopher Bedi sold 495 shares of the company’s stock in a transaction that took place on Friday, April 29th. The stock was sold at an average price of $ 489.18, for a total transaction of $ 242,144.10. Following the sale, the insider now owns 12,977 shares of the company’s stock, valued at $ 6,348,088.86. The disclosure for this sale can be found here. Insiders sold 17,577 shares of the company’s stock worth $ 8,503,327 in the last quarter. 0.28% of the stock is currently owned by company insiders.
Institutional Service Trade Today
Several large investors have recently increased or decreased their stakes NOW. Edgewood Management LLC acquired a new position in ServiceNow in the 1st quarter worth approximately $ 1,515,281,000. Norges Bank acquired a new position in ServiceNow in the 4th quarter worth approximately $ 1,117,096,000. Allspring Global Investments Holdings LLC acquired a new position in ServiceNow in the 4th quarter valued at approximately $ 400,884,000. Fisher Asset Management LLC boosted its stake in 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 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. 87.20% of the stock is currently owned by institutional investors.
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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