ServiceNow, Inc. (NYSE:NOW – Get Rating) Director Lawrence Jackson sold 707 shares of the business’s stock in a transaction dated Friday, July 29. The shares were sold at an average price of $446.40, for a total amount worth $315,604.80. . Following the completion of the sale, the director now owns 660 shares in the company, valued at $294,624. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available through this link.
ServiceNow rose 1.6%
Shares of NYSE:NOW opened at $453.77 on Tuesday. The company has a market capitalization of $90.96 billion, a P/E ratio of 498.65, a P/E/G ratio of 9.21 and a beta of 0.94. ServiceNow, Inc. has a 1 year low of $406.47 and a 1 year high of $707.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12. The business’s 50 day simple moving average is $464.09 and its 200 day simple moving average is $504.78.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.09. The business 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 quarterly revenue was up 24.3% compared to the same quarter last year. In the same quarter last year, the business posted $0.38 earnings per share. On average, research analysts expect that ServiceNow, Inc. will post 1.7 EPS for the current fiscal year.
Institutional Investors Are Weighing In On The Service Today
Several large investors have recently added to or reduced their stakes in the stock. The Vanguard Group Inc. grew its position in ServiceNow by 1.9% during the first 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 buying an additional 306,106 shares in the last quarter. Raised by BlackRock Inc. its stake in ServiceNow by 0.4% during the fourth quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock valued at $10,509,544,000 after buying an additional 65,623 shares during the last quarter. State Street Corp lifted its stake in ServiceNow by 3.2% during the fourth 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 purchasing an additional 241,296 shares during the last quarter. Polen Capital Management LLC lifted its stake in ServiceNow by 2.1% during the first 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 buying an additional 67,385 shares during the last quarter. Finally, Capital International Investors lifted its stake in ServiceNow by 18.1% in the first 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 buying an additional 491,835 shares during the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.
Wall Street Analysts weigh in
Several brokerages recently commented on NOW. Mizuho cut their price target on ServiceNow from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft cut their price target on ServiceNow from $680.00 to $625.00 and set a “hold” rating on the stock in a report on Thursday, July 28th. JMP Securities cut their price target on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a report on Thursday, July 28th. Citigroup dropped their target price on ServiceNow from $600.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Finally, Sanford C. Bernstein assumed coverage on ServiceNow in a report 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 issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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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