ServiceNow (NYSE:NOW – Get Rating) Cowen decreased their target price from $695.00 to $590.00 in a research report report published on Friday, Stock Target Advisor reports. Cowen currently has an outperform rating on the information technology services provider’s stock.
A number of other analysts have recently commented on the company. Barclays reduced their price target on ServiceNow from $613.00 to $560.00 and set an overweight rating for the company in a research note on Monday, July 18th. BNP Paribas downgraded ServiceNow from a neutral rating to an underperform rating and set a $460.00 target price for the company. in a research note on Tuesday, March 29th. Mizuho cut their price target on ServiceNow from $550.00 to $520.00 and set a buy rating for the company in a research note on Tuesday, July 19th. Morgan Stanley cut their price target on ServiceNow from $594.00 to $575.00 and set an overweight rating for the company in a research note on Thursday, July 14th. Finally, KeyCorp cut their price target on ServiceNow from $692.00 to $613.00 and set an overweight rating for the company in a research note on Monday, April 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of Moderate Buy and a consensus price target of $624.81.
ServiceNow Stock Performance
Shares of NOW opened at $446.77 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a 50-day moving average of $462.48 and a 200-day moving average of $509.66. The company has a market cap of $89.56 billion, a PE ratio of 406.15, a P/E/G ratio of 9.08 and a beta of 1.03. ServiceNow has a one year low of $406.47 and a one year high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, April 27th. The information technology services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.34 by $0.13. The company had revenue of $1.72 billion in the quarter, compared to the consensus estimate 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 was up 26.6% compared to the same quarter last year. During the same period last year, the business posted $0.50 EPS. On average, equities research analysts predict that ServiceNow will post 1.71 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Teresa Briggs sold 932 shares of ServiceNow stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $490.26, for a total amount of $456,922.32. Following the sale, the director now owns 707 shares of the company’s stock, valued at approximately $346,613.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC website. In related news, Director Teresa Briggs sold 932 shares of ServiceNow stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $490.26, for a total amount of $456,922.32. Following the sale, the director now owns 707 shares of the company’s stock, valued at approximately $346,613.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC website. Also, 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 completion of the sale, the director now directly owns 33,600 shares in the company, valued at approximately $16,699,536. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,577 shares of company stock valued at $8,503,327. 0.28% of the stock is owned by company insiders.
Institutional Entry and Exit
A number of hedge funds have recently bought and sold shares of the business. Paragon Advisors LLC boosted its stake in ServiceNow by 33.9% in the 2nd quarter. Paragon Advisors LLC now owns 4,408 shares of the information technology services provider’s stock valued at $2,096,000 after buying an additional 1,115 shares in the last quarter. WoodTrust Financial Corp bought a new position in ServiceNow in the 2nd quarter valued at approximately $380,000. Boston Trust Walden Corp bought a new position in ServiceNow in the 2nd quarter valued at approximately $253,000. First Hawaiian Bank grew its stake in ServiceNow by 48.3% in the 2nd quarter. First Hawaiian Bank now owns 4,734 shares of the information technology services provider’s stock valued at $2,251,000 after buying an additional 1,541 shares in the last quarter. Finally, First Bank & Trust grew its position in shares of ServiceNow by 52.2% in the 2nd quarter. First Bank & Trust now owns 4,375 shares of the information technology services provider’s stock valued at $2,080,000 after buying an additional 1,500 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, build, integrate, manage, and automate services for businesses worldwide. It powers 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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