ServiceNow (NYSE: NOW – Get a Rating) research analysts at BMO Capital Markets lowered its price target from $ 635.00 to $ 570.00 in a report released Wednesday, The Fly reports. BMO Capital Markets ’price target would suggest a potential increase of 25.00% from the company’s previous closing.
Several other brokerages have also recently released NOW reports. BNP Paribas cut ServiceNow from a “neutral” rating to an “underperform” rating and set a $ 460.00 target price on the stock. in a report on Tuesday, March 29th. StockNews.com assumed coverage on ServiceNow in a report on Thursday, March 31st. They gave a “hold” rating to the stock. Oppenheimer cut their target price on ServiceNow from $ 775.00 to $ 660.00 and set an “outperform” rating on the stock in a report on Thursday, January 27th. Canaccord Genuity Group cut their target price on ServiceNow from $ 715.00 to $ 615.00 and set a “buy” rating on the stock in a report on Thursday, January 27th. Finally, Piper Sandler raised ServiceNow from a “neutral” rating to an “overweight” rating and set a $ 650.00 target price for the company in a research report on Thursday, January 27th. . Two equities research analysts rated the stock with a sell rating, three assigned a hold rating and twenty-seven gave a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average “Buy” rating and a consensus price target of $ 676.43.
ServiceNow stock opened at $ 456.00 on Wednesday. The stock has a market capitalization of $ 91.20 billion, a price-to-earnings ratio of 400.00, a PEG ratio of 9.42 and a beta of 1.04. ServiceNow has a 52-week low of $ 448.27 and a 52-week high of $ 707.60. The stock’s 50-day average moving price is $ 541.64 and its two-hundred-day average moving price is $ 595.57. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.05 and a current ratio of 1.05.
ServiceNow (NYSE: NOW-Get Rating) last released its earnings results on Wednesday, January 26th. The information technology service provider reported $ 0.29 earnings per share (EPS) for the quarter, ahead of analysts ’consensus estimates of $ 0.22 of $ 0.07. ServiceNow had a return on equity of 9.43% and a net margin of 3.90%. The company had revenue of $ 1.61 billion for the quarter, compared to analysts ’expectations of $ 1.60 billion. In the same period last year, the business earned $ 0.16 EPS. On average, equities research analysts predict that ServiceNow will post 1.85 EPS for the current year.
In other ServiceNow news, insider Christopher Bedi sold 158 shares of ServiceNow stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $ 578.87, for a total transaction of $ 91,461.46. The transaction is disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. Also, CFO Gina Mastantuono sold 2,102 shares of ServiceNow stock in a transaction dated Tuesday, February 8th. The shares were sold at an average price of $ 564.20, for a total value of $ 1,185,948.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,141 shares of the company’s stock worth $ 18,355,758. 0.35% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. CLARET ASSET MANAGEMENT Corp. bought a new position in ServiceNow in the 3rd quarter worth approximately $ 204,000. The Public Sector Pension Investment Board increased its holdings in ServiceNow by 7.9% in the 3rd quarter. The Public Sector Pension Investment Board now owns 33,410 shares of the information technology services provider’s stock worth $ 20,790,000 after buying an additional 2,460 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of ServiceNow by 6.7% in the fourth quarter. DNB Asset Management AS now owns 32,989 shares of the information technology services provider’s stock worth $ 21,413,000 after buying an additional 2,085 shares in the last quarter. Lloyd Advisory Services LLC. its holdings in ServiceNow shares grew by 22.5% in the fourth quarter. Lloyd Advisory Services LLC. now owns 125 shares of the information technology services provider’s stock worth $ 81,000 after buying an additional 23 shares in the last quarter. Finally, Zacks Investment Management increased its holdings in ServiceNow shares by 1,453.0% in the third quarter. Zacks Investment Management now owns 13,511 shares of the information technology services provider’s stock worth $ 8,408,000 after buying an additional 12,641 shares in the last quarter. 86.63% of the stock is owned by institutional investors and hedge funds.
ServiceNow Company Profile (Get a Rating)
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.
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