Analysts at Moffett Nathanson initiated coverage on shares of ServiceNow (NYSE:NOW – Get Rating) in a research report issued to clients and investors on Thursday, Briefing.com reports. The firm set a “hold” rating and a $553.00 price target on the information technology services provider’s stock. Moffett Nathanson’s price target indicates a potential upside of 37.76% from the company’s current price.
A number of other equities research analysts have also recently weighed in on NOW. Mizuho dropped their price target on shares of ServiceNow from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Royal Bank of Canada dropped their price target on shares of ServiceNow from $670.00 to $610.00 in a research note on Monday, July 18th. Stifel Nicolaus dropped their target price on shares of ServiceNow from $650.00 to $550.00 in a research note on Wednesday, May 25th. Sanford C. Bernstein assumed coverage on shares of ServiceNow in a research note on Tuesday, July 19th. They issued an “outperform” rating and a $646.00 target price for the company. Finally, Guggenheim assumed coverage on shares of ServiceNow in a research note on Friday, August 12th. They issued a “neutral” rating and a $510.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-nine have given a buy rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $597.41.
ServiceNow Price Performance
NYSE:NOW opened at $401.43 on Thursday. The company has a market cap of $81.09 billion, a PE ratio of 441.13, a price-to-earnings-growth ratio of 8.37 and a beta of 0.94. ServiceNow has a 12-month low of $401.39 and a 12-month high of $707.60. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $455.61 and its two-hundred-day moving average price is $480.24.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. On average, equities analysts expect that ServiceNow will post 1.72 EPS for the current fiscal year.
Internal Activity
In other news, General Counsel Russell S. Elmer sold 4,812 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $438.99, for a total value of $2,112,419.88. Following the sale, the general counsel now directly owns 9,293 shares in the company, valued at approximately $4,079,534.07. The transaction was disclosed in a filing with the SEC, which is available on the SEC website. In related news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the sale, the director now directly owns 33,600 shares in the company, valued at approximately $16,699,536. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 4,812 shares of ServiceNow stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the sale, the general counsel now owns 9,293 shares in the company, valued at $4,079,534.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,922 shares of company stock valued at $15,146,557. Corporate insiders own 0.28% of the company’s stock.
Institutional Entry and Exit
Hedge funds and other institutional investors have recently modified their holdings of the company. Hilltop Holdings Inc. raised its stake in ServiceNow by 4.4% during the 4th quarter. Hilltop Holdings Inc. now owns 566 shares of the information technology services provider’s stock valued at $367,000 after buying an additional 24 shares in the last quarter. Mutual Advisors LLC increased its stake in ServiceNow by 19.3% during the 4th quarter. Mutual Advisors LLC now owns 1,576 shares of the information technology services provider’s stock worth $1,023,000 after buying an additional 255 shares in the last quarter. Nuveen Asset Management LLC raised its stake in ServiceNow by 11.7% during the 4th quarter. Nuveen Asset Management LLC now owns 2,925,155 shares of the information technology services provider’s stock valued at $1,898,748,000 after buying an additional 305,908 shares during the last quarter. ETF Managers Group LLC increased its stake in ServiceNow by 4.8% during the 4th quarter. ETF Managers Group LLC now owns 1,363 shares of the information technology services provider’s stock valued at $892,000 after buying an additional 63 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in ServiceNow during the 4th quarter valued at $239,000. Institutional investors and hedge funds own 87.49% of the company’s stock.
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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