ServiceNow, Inc. (NYSE:NOW – Get Rating) has earned a consensus recommendation of “Moderate Buy” from the thirty-five analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-two have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $598.84.
A number of equities analysts recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of ServiceNow from $700.00 to $550.00 in a research note on Monday, May 23rd. BMO Capital Markets decreased their price objective on shares of ServiceNow from $595.00 to $520.00 in a research note on Friday, July 15th. Guggenheim assumed coverage on shares of ServiceNow in a research note on Friday, August 12th. They issued a “neutral” rating and a $510.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a research note on Monday, July 25th. Finally, UBS Group cut their price target on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating for the company in a research report on Thursday, July 28th.
ServiceNow Trading rose 0.2%
Shares of NYSE:NOW opened at $489.60 on Friday. The stock has a market capitalization of $98.90 billion, a price-to-earnings ratio of 538.02, a PEG ratio of 10.08 and a beta of 0.94. ServiceNow has a 1-year low of $406.47 and a 1-year high of $707.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50 day moving average price of $467.72 and a 200 day moving average price of $502.07.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The company’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, research analysts anticipate that ServiceNow will post 1.73 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, General Counsel Russell S. Elmer sold 4,812 shares of ServiceNow stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the sale, the general counsel now directly owns 9,293 shares in the company, valued at approximately $4,079,534.07. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, General Counsel Russell S. Elmer sold 4,812 shares of ServiceNow stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the sale, the general counsel now directly owns 9,293 shares in the company, valued at approximately $4,079,534.07. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Chirantan Jitendra Desai sold 7,000 shares of ServiceNow stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $477.52, for a total transaction of $3,342,640.00. Following the sale, the chief operating officer now owns 38,980 shares in the company, valued at $18,613,729.60. The disclosure for this sale can be found here. Insiders have sold 33,258 shares of company stock valued at $15,622,745 over the last ninety days. Insiders own 0.28% of the company’s stock.
Hedge Fund Weighs In On Service Now
Several institutional investors and hedge funds have recently added to or reduced their stakes in NOW. Edgewood Management LLC acquired a new position in ServiceNow during the first quarter valued at approximately $1,515,281,000. Norges Bank acquired a new position in ServiceNow during the fourth quarter valued at about $1,117,096,000. Powered by TD Asset Management Inc. its position in ServiceNow by 84.7% in the fourth quarter. TD Asset Management Inc. now owns 1,207,201 shares of the information technology services provider’s stock valued at $783,606,000 after buying an additional 553,517 shares in the last quarter. Fisher Asset Management LLC boosted its position in ServiceNow by 57.9% in the first quarter. Fisher Asset Management LLC now owns 1,413,079 shares of the information technology services provider’s stock valued at $786,930,000 after buying an additional 518,349 shares during the last quarter. Finally, Capital International Investors boosted its position in ServiceNow by 18.1% in the first quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock valued at $1,786,783,000 after purchasing an additional 491,835 shares during the last quarter. 87.20% of the stock is currently 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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