Guggenheim upgraded parts of ServiceNow (NYSE:NOW – Get Rating) from a neutral rating to a buy rating in a research report issued on Monday, Marketbeat reports.
Other research analysts have also issued reports on the stock. Wells Fargo & Company cut their price target on shares of ServiceNow from $600.00 to $550.00 and set an overweight rating on the stock in a research note on Monday, July 25th. Canaccord Genuity Group cut their price target on shares of ServiceNow from $615.00 to $510.00 and set a buy rating on the stock in a research note on Thursday, July 28th. Citigroup cut their price target on shares of ServiceNow from $575.00 to $488.00 and set a buy rating on the stock in a research note on Wednesday, October 19th. JMP Securities dropped their price objective on shares of ServiceNow from $705.00 to $553.00 and set a market outperform rating on the stock in a research note on Thursday, July 28th. Finally, Moffett Nathanson assumed coverage on shares of ServiceNow in a research note on Thursday, September 22nd. They issued a hold rating and a $553.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat.com, ServiceNow presently has an average rating of Moderate Buy and a consensus price target of $569.09.
ServiceNow Trading Up 1.6 %
NOW opened at $366.56 on Monday. ServiceNow has a twelve month low of $337.00 and a twelve 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 has a fifty-day moving average of $416.11 and a 200-day moving average of $450.64. The stock has a market cap of $74.05 billion, a PE ratio of 402.81, a price-to-earnings-growth ratio of 7.35 and a beta of 0.98.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings data 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 analysts’ expectations of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. ServiceNow’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. On average, sell-side analysts predict that ServiceNow will post 1.72 EPS for the current year.
ServiceNow Insider Transactions
In other news, insider Lara Caimi sold 977 shares of ServiceNow stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $514.96, for a total amount of $503,115.92. Following the completion of the transaction, the insider now owns 43 shares in the company, valued at $22,143.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, available through the SEC website. In other news, insider Paul John Smith sold 130 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $502.81, for a total value of $65,365.30. Following the completion of the transaction, the insider now directly owns 2,157 shares in the company, valued at $1,084,561.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lara Caimi sold 977 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $514.96, for a total transaction of $503,115.92. Following the completion of the transaction, the insider now owns 43 shares of the company’s stock, valued at $22,143.28. The disclosure for this sale can be found here. Insiders sold 32,922 shares of company stock worth $14,410,327 in the last quarter. Corporate insiders own 0.28% of the company’s stock.
Hedge Fund Weighs In On Service Now
A number of large investors have recently modified their holdings of the company. RB Capital Management LLC lifted its position in ServiceNow by 25.2% during the first quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after buying an additional 192 shares during the last quarter. AdvisorNet Financial Inc lifted its position in ServiceNow by 419.2% during the first quarter. AdvisorNet Financial Inc now owns 379 shares of the information technology services provider’s stock valued at $211,000 after buying an additional 306 shares during the last quarter. Ritholtz Wealth Management lifted its position in ServiceNow by 7.0% during the first quarter. Ritholtz Wealth Management now owns 1,005 shares of the information technology services provider’s stock valued at $560,000 after buying an additional 66 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position in ServiceNow by 69.8% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,610 shares of the information technology services provider’s stock valued at $897,000 after buying an additional 662 shares in the last quarter. Finally, Colonial River Wealth Management LLC lifted its position in ServiceNow by 15.3% during the first quarter. Colonial River Wealth Management LLC now owns 421 shares of the information technology services provider’s stock valued at $234,000 after buying an additional 56 shares in the last quarter. 87.49% of the stock is currently owned by institutional investors.
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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