ServiceNow (NYSE:NOW – Get Rating) had its price objective cut by BMO Capital Markets from $520.00 to $497.00 in a report published on Thursday morning, The Fly reports. The firm currently has a maintain rating on the information technology services provider’s stock.
NOW has been the subject of several other research reports. Wells Fargo & Company dropped their price target on shares of ServiceNow from $600.00 to $550.00 and set an overweight rating on the stock in a research note on Monday, July 25th. Truist Financial reduced their price objective on shares of ServiceNow from $600.00 to $550.00 and set a buy rating on the stock in a report on Thursday. Cowen decreased their price objective on shares of ServiceNow from $590.00 to $580.00 and set a hold rating on the stock in a report on Thursday. Canaccord Genuity Group cut their price target on shares of ServiceNow from $615.00 to $510.00 and set a buy rating on the stock in a research note on Thursday. Finally, Sanford C. Bernstein began coverage on shares of ServiceNow in a research note on Tuesday, July 19th. They set an outperform rating and a $646.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of Moderate Buy and a consensus price target of $589.90.
ServiceNow Trading Up 2.3 %
NOW stock opened at $446.66 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow has a 12 month low of $406.47 and a 12 month high of $707.60. The company’s 50-day moving average is $463.62 and its 200-day moving average is $505.32. The company has a market capitalization of $89.54 billion, a PE ratio of 406.05, a P/E/G ratio of 8.94 and a beta of 1.03.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.09. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The company had revenue of $1.75 billion in the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the business earned $0.38 EPS. ServiceNow’s revenue for the quarter was up 24.3% on a year-over-year basis. On average, research analysts anticipate that ServiceNow will post 1.71 EPS for the current year.
Insider Buying and Selling at ServiceNow
In other news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction dated Friday, May 13th. The stock was traded at an average price of $446.04, for a total transaction of $55,755.00. Following the completion of the sale, the insider now owns 1,446 shares in the company, valued at approximately $644,973.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Paul John Smith sold 125 shares of the business’s stock in a transaction dated Friday, May 13th. The stock was traded at an average price of $446.04, for a total transaction of $55,755.00. Following the completion of the sale, the insider now owns 1,446 shares in the company, valued at approximately $644,973.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 580 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $431.51, for a total value of $250,275.80. Following the transaction, the insider now directly owns 189 shares in the company, valued at $81,555.39. The disclosure for this sale can be found here. Insiders have sold 16,150 shares of company stock valued at $7,804,261 over the last 90 days. 0.28% of the stock is owned by company insiders.
Institutional Investors Weigh In On The Service Now
Institutional investors and hedge funds have recently made changes to their positions in the company. Prospera Financial Services Inc purchased a new position in ServiceNow during the 1st quarter valued at $996,000. Walleye Capital LLC boosted its stake in ServiceNow by 54.8% during the 4th quarter. Walleye Capital LLC now owns 7,084 shares of the information technology services provider’s stock valued at $4,598,000 after buying an additional 2,507 shares during the last quarter. Exane Derivatives increased its stake in ServiceNow by 7.0% during the 1st quarter. Exane Derivatives now owns 1,447 shares of the information technology services provider’s stock valued at $806,000 after buying an additional 95 shares during the last quarter. New York State Common Retirement Fund grew its stake in ServiceNow by 1.6% during the 1st quarter. New York State Common Retirement Fund now owns 371,725 shares of the information technology services provider’s stock valued at $207,010,000 after buying an additional 5,941 shares during the last quarter. Finally, Amalgamated Bank increased its stake in ServiceNow by 13.9% during the 4th quarter. Amalgamated Bank now owns 50,259 shares of the information technology services provider’s stock valued at $32,624,000 after buying an additional 6,128 shares during the last quarter. 87.20% of the stock is owned by institutional investors and hedge funds.
About ServiceNow
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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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