ServiceNow, Inc. (NYSE:NOW – Get Rating) insider Nicholas Tzitzon sold 2,822 shares of the business’s stock in a transaction dated Friday, July 29. The shares were sold at an average price of $438.75, for a total value of $1,238,152.50 . The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
ServiceNow rose 1.6%
Shares of NOW stock opened at $453.77 on Tuesday. The stock’s fifty day moving average price is $464.09 and its two hundred day moving average price is $504.78. The company has a market cap of $90.96 billion, a PE ratio of 498.65, a P/E/G ratio of 9.21 and a beta of 0.94. ServiceNow, Inc. has a fifty-two week low of $406.47 and a fifty-two week high of $707.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.09. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company’s revenue increased by 24.3% compared to the same quarter last year. In the same quarter last year, the business posted $0.38 EPS. Equities analysts predict that ServiceNow, Inc. will post 1.7 EPS for the current fiscal year.
Institutional Investors Are Weighing In On The Service Today
A number of large investors have recently modified their holdings of NOW. Powered by Vanguard Group Inc. its holdings in shares of ServiceNow by 1.9% in the 1st quarter. The Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock valued at $9,074,862,000 after acquiring an additional 306,106 shares in the last quarter. Powered by BlackRock Inc. its holdings in shares of ServiceNow by 0.4% during the 4th quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $10,509,544,000 after acquiring an additional 65,623 shares in the last quarter. State Street Corp boosted its holdings in shares of ServiceNow by 3.2% during the 4th quarter. State Street Corp now owns 7,870,165 shares of the information technology services provider’s stock valued at $5,108,603,000 after acquiring an additional 241,296 shares during the last quarter. Polen Capital Management LLC boosted its holdings in shares of ServiceNow by 2.1% in the 1st quarter. Polen Capital Management LLC now owns 3,219,600 shares of the information technology services provider’s stock valued at $1,792,963,000 after acquiring an additional 67,385 shares in the last quarter. Finally, Capital International Investors grew its holdings in shares of ServiceNow by 18.1% during the 1st quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock valued at $1,786,783,000 after acquiring an additional 491,835 shares in the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.
Changes in Analyst Ratings
A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price target on ServiceNow from $680.00 to $625.00 and set a “hold” rating on the stock in a research report on Thursday, July 28th. Wells Fargo & Company dropped their price target on ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. Barclays dropped their price target on ServiceNow from $560.00 to $495.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. Cowen dropped their target price on ServiceNow from $590.00 to $580.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating on shares of ServiceNow in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $589.90.
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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