ServiceNow (NYSE:NOW – Get Rating) its price target was cut by Barclays from $613.00 to $560.00 in a report issued on Monday, The Fly reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.
A number of other equities analysts recently commented on NOW. Truist Financial decreased their price target on shares of ServiceNow from $700.00 to $600.00 in a report on Tuesday, May 10th. Credit Suisse Group cut their price objective on shares of ServiceNow from $800.00 to $700.00 in a report on Thursday, April 28th. Jefferies Financial Group cut their price objective on shares of ServiceNow from $700.00 to $550.00 in a report on Monday, May 23rd. Royal Bank of Canada cut their price objective on shares of ServiceNow from $700.00 to $660.00 and set an outperform rating on the stock in a report on Monday, April 25th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of ServiceNow from $700.00 to $680.00 in a report on Thursday, April 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $631.58.
ServiceNow Stock Up 0.8 %
NYSE:NOW opened at $460.29 on Monday. ServiceNow has a 1-year low of $406.47 and a 1-year high of $707.60. The company has a 50-day moving average of $462.60 and a 200-day moving average of $511.64. The company has a market cap of $92.27 billion, a PE ratio of 418.45, a price-to-earnings-growth ratio of 8.89 and a beta of 1.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.12 and a quick ratio of 1.12.
ServiceNow (NYSE:NOW – Get Rating) last announced its earnings results on Wednesday, April 27th. The information technology services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.13. The business had revenue of $1.72 billion in the quarter, compared to the consensus estimate of $1.70 billion. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The company’s revenue rose 26.6% on a year-over-year basis. During the same period last year, the company posted $0.50 earnings per share. As a group, research analysts expect that ServiceNow will post 1.71 EPS for the current fiscal year.
ServiceNow Insider Activity
In related news, insider Christopher Bedi sold 495 shares of the stock in a transaction on Friday, April 29th. The stock was sold at an average price of $489.18, for a total value of $242,144.10. Following the completion of the transaction, the insider now directly owns 12,977 shares of the company’s stock, valued at approximately $6,348,088.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ServiceNow news, insider Christopher Bedi sold 495 shares of the firm’s stock in a transaction on Friday, April 29th. The stock was sold at an average price of $489.18, for a total value of $242,144.10. Following the completion of the sale, the insider now directly owns 12,977 shares of the company’s stock, valued at approximately $6,348,088.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, insider Paul John Smith sold 412 shares of the firm’s stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $427.17, for a total value of $175,994.04. Following the completion of the sale, the insider now directly owns 1,755 shares of the company’s stock, valued at $749,683.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,577 shares of company stock valued at $8,503,327. 0.28% of the stock is owned by insiders.
Institutional Trading Services Today
A number of hedge funds and other institutional investors have recently modified their holdings of NOW. Chilton Capital Management LLC acquired a new stake in shares of ServiceNow during the 4th quarter valued at about $25,000. OLD Second National Bank of Aurora acquired a new stake in shares of ServiceNow during the 1st quarter valued at approximately $28,000. High Net Worth Advisory Group LLC acquired a new stake in shares of ServiceNow during the 1st quarter valued at approximately $29,000. AHL Investment Management Inc. acquired a new stake in shares of ServiceNow during the 4th quarter valued at approximately $35,000. Finally, Lee Financial Co increased its position in shares of ServiceNow by 671.4% in the 4th quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 47 shares during the last quarter. 87.20% of the stock is owned by institutional investors and hedge funds.
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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