ServiceNow, Inc. (NYSE:NOW – Get Rating) has been assigned a consensus recommendation of “Moderate Buy” from the thirty-four research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $593.29.
A number of equities research analysts recently weighed in on NOW shares. BMO Capital Markets dropped their price objective on ServiceNow from $595.00 to $520.00 in a research note on Friday, July 15th. UBS Group dropped their price target on ServiceNow from $540.00 to $515.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Morgan Stanley dropped 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. Credit Suisse Group dropped their price target on ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Finally, Canaccord Genuity Group dropped their price target on ServiceNow from $615.00 to $510.00 and set a “buy” rating for the company in a research note on Thursday, July 28th.
Insider Buying and Selling at ServiceNow
In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the company’s 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 of the company’s stock, valued at approximately $16,699,536. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the company’s 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 of the company’s stock, valued at approximately $16,699,536. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 2,666 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $422.80, for a total value of $1,127,184.80. Following the sale, the general counsel now directly owns 6,627 shares of the company’s stock, valued at $2,801,895.60. The disclosure for this sale can be found here. Insiders have sold a total of 32,922 shares of company stock valued at $15,146,557 over the last ninety days. Insiders own 0.28% of the company’s stock.
Hedge Fund Weighs In On Service Now
Large investors have recently modified their holdings in the business. Hancock Whitney Corp lifted its stake in shares of ServiceNow by 3.3% during the 1st quarter. Hancock Whitney Corp now owns 1,977 shares of the information technology services provider’s stock valued at $1,101,000 after purchasing an additional 64 shares during the last quarter. Prospera Financial Services Inc purchased a new position in shares of ServiceNow in the 1st quarter valued at approximately $996,000. Brookstone Capital Management lifted its stake in shares of ServiceNow by 5.1% during the 2nd quarter. Brookstone Capital Management now owns 1,690 shares of the information technology services provider’s stock valued at $835,000 after buying an additional 82 shares during the last quarter. Allworth Financial LP raised its stake in ServiceNow by 50.2% in the 2nd quarter. Allworth Financial LP now owns 422 shares of the information technology services provider’s stock valued at $201,000 after buying an additional 141 shares during the last quarter. Finally, Exane Derivatives increased its stake in ServiceNow by 7.0% in the 1st quarter. Exane Derivatives now owns 1,447 shares of the information technology services provider’s stock worth $806,000 after buying an additional 95 shares in the last quarter. 87.49% of the stock is owned by hedge funds and other institutional investors.
ServiceNow Trading was down 2.0%
Shares of NYSE NOW opened at $377.61 on Monday. ServiceNow has a twelve month low of $367.71 and a twelve month high of $707.60. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The stock has a fifty-day simple moving average of $447.25 and a 200-day simple moving average of $472.20. The stock has a market capitalization of $76.28 billion, a PE ratio of 414.96, a PEG ratio of 7.85 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The business had revenue of $1.75 billion in the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the company posted $0.38 earnings per share. The company’s revenue rose 24.3% on a year-over-year basis. On average, equities analysts predict that ServiceNow will post 1.72 earnings per share for the current year.
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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