Service Now (NYSE: NOW) Its target price was raised to $705.00 from $639.00 by stock analysts at JMP Securities in a note issued to investors Monday, reports Benzinga. The brokerage currently has a “Market Outperform” rating on the information technology services provider’s stock. The price objective of JMP Securities would indicate a potential growth of 14.16% from the previous close of the company.
Other analysts also recently released research reports about the stock. Truist raised its price objective on Service Now shares from $575.00 to $640.00 and gave the stock a “buy” rating in a report on Thursday, July 29. Truist Securities raised its price objective on Service Now shares from $575.00 to $640.00 and gave the stock a “buy” rating in a report on Thursday, July 29. Goldman Sachs Group raised its price objective on ServiceNow shares from $695.00 to $725.00 in a report on Thursday, July 29. Cowen raised his price objective on Service Now shares from $620.00 to $670.00 and gave the stock an “outperform” rating in a report on Thursday, July 29. Finally, Morgan Stanley raised its price objective on Service Now shares from $700.00 to $796.00 and gave the stock an “overweight” rating in a report on Monday, October 4. Two Equity Research analysts have rated the stock with a hold rating, thirty one have a buy rating and one has issued a strong buy rating to the company’s stock. According to data from Marketbeat, Service Now currently has a consensus rating of “Buy” and a consensus target price of $653.97.
Shares of ServiceNow opened Monday at $617.58. ServiceNow has a 52-week low of $448.27 and a 52-week high of $681.10. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The company’s 50-day simple moving average is $625.63 and its 200-day simple moving average is $556.52. The firm has a market cap of $122.34 billion, a price-to-earnings ratio of 735.22, a price-to-earnings-growth ratio of 17.05 and a beta of 0.92.
ServiceNow (NYSE: NOW) last released its quarterly earnings results on Wednesday, July 28. The information technology services provider reported earnings per share (EPS) for the quarter of $1.42, up from analysts’ consensus estimates of $0.16 to $1.26. Business revenue for the quarter was $1.41 billion, compared to analyst estimates of $1.36 billion. ServiceNow had a net margin of 3.30% and return on equity at 9.10%. Equity research analysts expect ServiceNow to post 1.35 EPS for the current year.
In other news, Director Anita M. Sands sold 994 shares of the company’s stock in a transaction on Thursday, July 29. The shares were sold at an average price of $600.00, with a total value of $596,400.00. Following the completion of the transaction, the director now directly owns 707 shares in the company, valued at $424,200. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available through the SEC website. Additionally, director Frederick B. Ludi sold 16,500 shares of the stock in a single transaction on Wednesday, October 6. Shares were sold at an average price of $628.26 for a total transaction of $10,366,290.00. The disclosure of this sale can be found here. Insiders sold 31,283 shares of the company’s stock worth $18,531,328 in the past three months. Company insiders own 0.35% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Selective Wealth Management Inc. purchased a new position in Service Now shares worth approximately $30,000 in the second quarter. Wolverine Asset Management LLC shares of Service Now gained 1,160.0% in the first quarter. Wolverine Asset Management LLC now holds 63 shares worth 31,000 shares of the information technology services provider after purchasing an additional 58 shares during the last quarter. SRS Capital Advisors Inc. purchased a new position in Services Now shares for approximately $33,000 in the second quarter. Lloyd Advisory Services LLC. Shares of Service Now increased their position by 48.8% in the second quarter. Lloyd Advisory Services LLC. Now owns 61 shares of the information technology services provider, valued at $34,000, after purchasing an additional 20 shares during the previous quarter. Finally, Bedel Financial Consulting Inc. increased its position in ServiceNow shares to 97.0% in the second quarter. Bedell Financial Consulting Inc. now owns 65 shares of the information technology services provider’s $36,000 stock after purchasing an additional 32 shares during the previous quarter. Hedge funds and other institutional investors hold 85.42% of the company’s stock.
Service Now Company Profile
ServiceNow, Inc. engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio focuses on providing information technology, employee and customer workflows. It offers its solutions to industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education and consumer products.
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