ServiceNow (NYSE:NOW – Get Rating) UBS Group decreased their target price from $515.00 to $465.00 in a report released on Thursday, The Fly reports.
Several other research firms recently commented on NOW. StockNews.com began coverage on ServiceNow in a research note on Wednesday, October 12th. They issued a hold rating for the company. Piper Sandler reduced their price target on ServiceNow from $600.00 to $550.00 and set an overweight rating for the company in a research note on Thursday, July 28th. Wells Fargo & Company reduced their price target on ServiceNow from $600.00 to $550.00 and set an overweight rating for the company in a research note on Monday, July 25th. Sanford C. Bernstein began coverage on ServiceNow in a research note on Tuesday, July 19th. They issued an outperform rating and a $646.00 target price for the company. Finally, Moffett Nathanson started coverage on ServiceNow in a research note on Thursday, September 22nd. They issued a hold rating and a $553.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the company. Based on data from MarketBeat, ServiceNow currently has an average rating of Moderate Buy and a consensus price target of $587.56.
ServiceNow Price Performance
Shares of NOW stock opened at $341.76 on Thursday. ServiceNow has a 1-year low of $337.00 and a 1-year high of $707.60. The stock’s 50-day moving average is $433.40 and its 200-day moving average is $458.72. The company has a market cap of $69.04 billion, a P/E ratio of 375.56, a PEG ratio of 7.38 and a beta of 0.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12.
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 company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. In the same quarter last year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. research analysts predict that ServiceNow will post 1.72 earnings per share for the current fiscal year.
Insider Buying and Selling at ServiceNow
In other ServiceNow news, insider Paul John Smith sold 130 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $502.81, for a total value of $65,365.30. Following the sale, the insider now directly owns 2,157 shares of the company’s stock, valued at $1,084,561.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ServiceNow news, insider Paul John Smith sold 130 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $502.81, for a total value of $65,365.30. Following the sale, the insider now directly owns 2,157 shares of the company’s stock, valued at $1,084,561.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $385.46, for a total value of $2,544,036.00. Following the completion of the sale, the director now directly owns 31,800 shares in the company, valued at $12,257,628. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,922 shares of company stock valued at $14,410,327. Company insiders own 0.28% of the company’s stock.
Institutional Trading Services Today
A number of institutional investors have recently made changes to their positions in the company. Powered by Vanguard Group Inc. its stake in shares of ServiceNow by 1.9% in 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 acquiring an additional 306,106 shares during the last quarter. Powered by BlackRock Inc. its stake in shares of ServiceNow by 0.4% in the fourth 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 during the last quarter. Polen Capital Management LLC boosted its stake in shares of ServiceNow by 2.1% in 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 acquiring an additional 67,385 shares during the last quarter. Capital International Investors boosted 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. Finally, Sands Capital Management LLC grew its stake in ServiceNow by 3.3% in the first quarter. Sands Capital Management LLC now owns 2,735,070 shares of the information technology services provider’s stock valued at $1,523,133,000 after buying an additional 87,874 shares during the last quarter. 87.49% 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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