ServiceNow (NYSE:NOW – Get Rating) research analysts at Mizuho cut their target price from $550.00 to $520.00 in a research note issued on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Mizuho’s price target would suggest a potential upside of 13.82% from the company’s current price.
A number of other equities analysts have also recently weighed in on the company. BNP Paribas cut ServiceNow from a “neutral” rating to an “underperform” rating and set a $460.00 target price for the company. in a report on Tuesday, March 29th. BMO Capital Markets dropped their price target on ServiceNow from $595.00 to $520.00 in a report on Friday, July 15th. UBS Group dropped their price target on ServiceNow from $570.00 to $540.00 and set a “buy” rating for the company in a report on Monday. Citigroup lifted their price target on ServiceNow from $623.00 to $656.00 in a report on Thursday, April 28th. Finally, Credit Suisse Group dropped their price target on ServiceNow from $800.00 to $700.00 in a report on Thursday, April 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $633.39.
ServiceNow Stock Performance
NYSE NOW opened at $456.85 on Tuesday. The stock has a market cap of $91.58 billion, a PE ratio of 415.32, a P/E/G ratio of 8.72 and a beta of 1.03. 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 has a twelve month low of $406.47 and a twelve month high of $707.60. The stock has a fifty-day simple moving average of $462.05 and a 200-day simple moving average of $512.82.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The information technology services provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.13. The business had revenue of $1.72 billion during 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 increased by 26.6% compared to the same quarter last year. During the same period last year, the business posted $0.50 EPS. equities analysts anticipate that ServiceNow will post 1.71 earnings per share for the current year.
Insiders Place Their Bets
In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the transaction, the director now owns 33,600 shares of the company’s stock, valued at $16,699,536. The transaction was disclosed in a filing with the SEC, which is available at this link. In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the transaction, the director now owns 33,600 shares of the company’s stock, valued at $16,699,536. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul John Smith sold 412 shares of ServiceNow stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $427.17, for a total value of $175,994.04. Following the completion of the transaction, the insider now owns 1,755 shares in the company, valued at $749,683.35. The disclosure for this sale can be found here. Insiders sold a total of 17,577 shares of company stock worth $8,503,327 in the last quarter. Company insiders own 0.28% of the company’s stock.
Institutional Entry and Exit
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Chilton Capital Management LLC bought a new stake in shares of ServiceNow in the fourth quarter valued at about $25,000. OLD Second National Bank of Aurora bought a new stake in shares of ServiceNow in the first quarter valued at about $28,000. High Net Worth Advisory Group LLC bought a new stake in shares of ServiceNow in the first quarter valued at about $29,000. AHL Investment Management Inc. purchased a new stake in shares of ServiceNow in the fourth quarter valued at approximately $35,000. Finally, Lee Financial Co grew its stake in shares of ServiceNow by 671.4% in the fourth quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 47 shares in the last quarter. 87.20% of the stock is currently owned by hedge funds and other institutional investors.
ServiceNow Company Profile
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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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