ServiceNow (NYSE:NOW – Get Rating) the target price was cut by Royal Bank of Canada from $550.00 to $500.00 in a research note published on Monday, The Fly reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.
Other research analysts have also issued research reports on the stock. Credit Suisse Group dropped their price target on shares of ServiceNow from $700.00 to $650.00 and set an outperform rating for the company in a research note on Thursday, July 28th. Wells Fargo & Company dropped their price target on shares of ServiceNow from $600.00 to $550.00 and set an overweight rating for the company in a research note on Monday, July 25th. Piper Sandler dropped their price objective on shares of ServiceNow from $600.00 to $550.00 and set an overweight rating for the company in a research note on Thursday, July 28th. JPMorgan Chase & Co. started coverage on shares of ServiceNow in a research note on Tuesday, October 11th. They issued an overweight rating and a $460.00 price objective for the company. Finally, Sanford C. Bernstein initiated coverage on shares of ServiceNow in a research note on Tuesday, July 19th. They issued an outperform rating and a $646.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of Moderate Buy and a consensus price target of $583.50.
ServiceNow Trading Up 2.0 %
Shares of NOW stock opened at $348.61 on Monday. 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 company has a market cap of $70.42 billion, a PE ratio of 383.09, a price-to-earnings-growth ratio of 6.97 and a beta of 0.98. The company has a 50-day moving average of $430.47 and a two-hundred-day moving average of $457.25. ServiceNow has a 1-year low of $337.00 and a 1-year high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last announced its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $1.75 billion in the quarter, compared to analyst estimates of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. ServiceNow’s revenue was up 24.3% compared to the same quarter last year. In the same quarter last year, the company posted $0.38 earnings per share. On average, analysts predict that ServiceNow will post 1.72 EPS for the current year.
ServiceNow Insider Activity
In related news, insider Nicholas Tzitzon sold 2,822 shares of ServiceNow stock in a transaction on Friday, July 29th. The shares were sold at an average price of $438.75, for a total value of $1,238,152.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC’s website. In other ServiceNow news, insider Jacqueline P. Canney sold 999 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $451.69, for a total transaction of $451,238.31. Following the sale, the insider now directly owns 728 shares in the company, valued at approximately $328,830.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 2,822 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $438.75, for a total transaction of $1,238,152.50. The disclosure for this sale can be found here. Insiders have sold a total of 32,922 shares of company stock valued at $14,410,327 in the last three months. Insiders own 0.28% of the company’s stock.
Institutional Investors Are Weighing In On The Service Today
Several institutional investors have recently made changes to their positions in NOW. Resources Investment Advisors LLC. boosted its position in shares of ServiceNow by 9.0% during the 4th quarter. Resources Investment Advisors LLC. now owns 691 shares of the information technology services provider’s stock valued at $449,000 after buying an additional 57 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in shares of ServiceNow by 12.0% during the 4th quarter. Evergreen Capital Management LLC now owns 503 shares of the information technology services provider’s stock valued at $327,000 after buying an additional 54 shares during the last quarter. Psagot Value Holdings Ltd. Israel acquired a new position in shares of ServiceNow during the 4th quarter valued at $84,000. Fulton Bank NA acquired a new position in shares of ServiceNow during the 1st quarter valued at $522,000. Finally, Wedmont Private Capital acquired a new position in shares of ServiceNow during the 1st quarter valued at $608,000. 87.49% of the stock is currently owned by hedge funds and other institutional investors.
ServiceNow Company Profile
(Get Rating)
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.
Read more
Receive News and Ratings for ServiceNow Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for ServiceNow and related companies with our FREE daily email newsletter of MarketBeat.com.