ServiceNow (NYSE: NOW – Get a Rating) analysts at Royal Bank of Canada reduced its target price from $ 670.00 to $ 610.00 in a research note issued to investors on Monday, The Fly reports. Royal Bank of Canada’s price target indicates a potential increase of 39.93% from the current stock price.
Several other equities analysts have also recently released reports on NOW. StockNews.com began coverage on ServiceNow in a report on Thursday, March 31st. They set a “hold” rating on the stock. Mizuho cut their target price on ServiceNow from $ 650.00 to $ 550.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Jefferies Financial Group cut their target price on ServiceNow from $ 700.00 to $ 550.00 in a report on Monday, May 23rd. TheStreet cut ServiceNow from a “b-” rating to a “c+” rating in a report on Tuesday, April 26th. Finally, Citigroup raised their target price on ServiceNow from $ 623.00 to $ 656.00 in a report on Thursday, April 28th. Two investment analysts rated the stock with a sell rating, two gave a hold rating and twenty-seven assigned a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $ 632.97.
ServiceNow Price Performance
ServiceNow stock opened at $ 435.94 on Monday. The stock has a market capitalization of $ 87.39 billion, a price-to-earnings ratio of 396.31, a PEG ratio of 8.90 and a beta of 1.03. ServiceNow has a 52-week low of $ 406.47 and a 52-week high of $ 707.60. The stock’s 50-day average moving price is $ 461.32 and its two-hundred-day average moving price is $ 513.21. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.12.
ServiceNow (NYSE: NOW-Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The information technology service provider reported $ 0.47 earnings per share (EPS) for the quarter, ahead of analysts ’consensus estimates of $ 0.34 of $ 0.13. The company had revenue of $ 1.72 billion for the quarter, compared to analysts ’expectations of $ 1.70 billion. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The company’s revenue for the quarter rose 26.6% compared to the same quarter last year. In the same period last year, the business earned $ 0.50 EPS. On average, equities analysts predict that ServiceNow will post 1.71 earnings per share for the current year.
Internal Activity
In related news, insider Christopher Bedi sold 495 shares of ServiceNow stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $ 489.18, for a total value of $ 242,144.10. Following the completion of the sale, the insider now owns 12,977 shares of the company’s stock, valued at approximately $ 6,348,088.86. The sale was disclosed in a legal filing with the SEC, available at this hyperlink. In related news, insider Christopher Bedi sold 495 shares of ServiceNow stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $ 489.18, for a total value of $ 242,144.10. Following the completion of the sale, the insider now owns 12,977 shares of the company’s stock, valued at approximately $ 6,348,088.86. The sale was disclosed in a legal filing with the SEC, available at this hyperlink. Also, COO Chirantan Jitendra Desai sold 7,000 shares of ServiceNow stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $ 477.52, for a total value of $ 3,342,640.00. Following the completion of the sale, the chief operating officer now directly owns 38,980 shares of the company’s stock, valued at approximately $ 18,613,729.60. The disclosure for this sale can be found here. Insiders have sold a total of 17,577 shares of the company’s stock worth $ 8,503,327 over the past ninety days. 0.28% of the stock is currently owned by insiders.
Institutional Entrances and Exits
Some large investors have recently increased or decreased their stakes NOW. PFG Advisors boosted its stake in ServiceNow by 8.3% in the 4th quarter. PFG Advisors now owns 365 shares of the information technology services provider’s stock worth $ 237,000 after purchasing an additional 28 shares during the period. Kestra Private Wealth Services LLC boosted its stake in ServiceNow by 109.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 1,908 shares of the information technology services provider’s stock worth $ 1,239,000 after purchasing an additional 999 shares during the period. The Trust Co. of Vermont bought a new position in ServiceNow in the 4th quarter worth approximately $ 134,000. Huntington National Bank boosted its stake in ServiceNow by 481.4% in the 4th quarter. Huntington National Bank now owns 4,343 shares of the information technology services provider’s stock worth $ 2,819,000 after buying an additional 3,596 shares during the period. Finally, Strs Ohio increased its stake in ServiceNow by 0.3% in the 4th quarter. Strs Ohio now owns 291,944 shares of the information technology services provider’s stock worth $ 189,503,000 after buying an additional 816 shares during the period. Institutional investors 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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