ServiceNow (NYSE: NOW – Get a Rating) equities researchers reduced its target price on BMO Capital Markets from $ 595.00 to $ 520.00 in a research report issued to clients and investors on Friday, The Fly reports. BMO Capital Markets ’price target would suggest a potential increase of 19.37% from the stock’s previous closing.
Several other research analysts have recently released reports on NOW. Royal Bank of Canada lowered their price target 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. Cowen lowered their price target on ServiceNow shares from $ 725.00 to $ 695.00 in a report on Thursday, April 28th. TheStreet downgraded ServiceNow shares from a “b-” rating to a “c+” rating in a report on Tuesday, April 26th. Credit Suisse Group reduced their target price on ServiceNow shares from $ 800.00 to $ 700.00 in a research report on Thursday, April 28th. Finally, BNP Paribas downgraded ServiceNow shares from a “neutral” rating to an “underperform” rating and set a $ 460.00 target price on the stock. in a research report on Tuesday, March 29th. Two equities research analysts rated the stock with a sell rating, two gave a hold rating and twenty-six gave a buy rating to the stock. Based on data from MarketBeat.com, the company has an average “Moderate Buy” rating and an average target price of $ 638.40.
ServiceNow Stock Performance
NOW shares opened at $ 435.62 on Friday. The company has a market capitalization of $ 87.32 billion, a PE ratio of 396.02, a price-to-earnings-growth ratio of 8.60 and a beta of 1.03. ServiceNow has a one -year low of $ 406.47 and a one -year high of $ 707.60. The company has a debt-to-equity ratio of 0.37, current ratio of 1.12 and quick ratio of 1.12. The company’s fifty -day average turnover price is $ 461.23 and its 200 -day average turnover price is $ 516.30.
ServiceNow (NYSE: NOW-Get Rating) last announced its earnings results on Wednesday, April 27th. The information technology service provider reported $ 0.47 EPS for the quarter, ahead of the consensus estimate of $ 0.34 of $ 0.13. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The company had revenue of $ 1.72 billion for the quarter, compared to the agreed $ 1.70 billion. In the same quarter last year, the company posted $ 0.50 EPS. Business quarterly revenue rose 26.6% on a year-over-year basis. As a group, analysts expect ServiceNow to post 1.71 revenue per share for the current year.
ServiceNow Insider Transactions
In other news, insider Paul John Smith sold 412 shares of the company’s stock in a transaction that took place on Wednesday, May 18th. The shares were sold at an average price of $ 427.17, for a total transaction of $ 175,994.04. Following the transaction, the insider now directly owns 1,755 shares in the company, valued at $ 749,683.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, available through the SEC website. In related news, Director Teresa Briggs sold 932 shares of the business’s stock in a transaction that took place on Friday, April 29th. The shares were sold at an average price of $ 490.26, for a total transaction of $ 456,922.32. Following the completion of the sale, the director now directly owns 707 shares of the company’s stock, valued at $ 346,613.82. The transaction was disclosed in a legal filing with the SEC, available at this link. Also, insider Paul John Smith sold 412 shares of the business’s stock in a transaction that took place on Wednesday, May 18th. The stock was sold at an average price of $ 427.17, for a total transaction of $ 175,994.04. Following 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. In the past three months, insiders have sold 17,577 shares of the company’s stock worth $ 8,503,327. Corporate insiders own 0.28% of the company’s stock.
Institutional Investors Are Weighing In Service Today
Institutional investors and hedge funds have recently changed their holdings in the business. Chilton Capital Management LLC bought a new stake in ServiceNow in the fourth quarter worth approximately $ 25,000. OLD Second National Bank of Aurora bought a new stake in ServiceNow in the first quarter worth approximately $ 28,000. High Net Worth Advisory Group LLC bought a new stake in ServiceNow in the first quarter worth approximately $ 29,000. AHL Investment Management Inc. bought a new stake in ServiceNow in the fourth quarter worth approximately $ 35,000. Finally, Lee Financial Co increased its stake in ServiceNow by 671.4% in the fourth quarter. Lee Financial Co. now owns 54 shares of the information technology services provider’s stock worth $ 35,000 after buying an additional 47 shares in the last quarter. 87.20% of the stock is owned by institutional investors.
About ServiceNow
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ServiceNow, Inc. provides enterprise cloud computing solutions that define, develop, integrate, manage, and automate services for businesses around the world. It runs 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.
Further Reading
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