ServiceNow (NYSE: NOW) Canaccord Genuity Group reduced its price target from $ 715.00 to $ 615.00 in a research note released Thursday morning, Analyst Ratings Network reports. Canaccord Genuity Group currently has a buy rating on the stock of the information technology service provider.
Other research analysts have recently released research reports about the company. Argus raised their target price on ServiceNow from $ 760.00 to $ 805.00 and gave the company a buy rating in a report on Tuesday, November 2nd. UBS Group boosted their price target on ServiceNow from $ 650.00 to $ 716.00 and gave the company a buy rating in a research note on Thursday, October 28th. FBN Securities boosted their price target on ServiceNow from $ 650.00 to $ 700.00 and gave the company an outperform rating in a research note on Thursday, October 28th. boosted their price target on ServiceNow from $ 650.00 to $ 715.00 and gave the company a buy rating in a research note on Thursday, October 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on ServiceNow from $ 820.00 to $ 700.00 and set a buy rating on the stock in a research note on Friday, January 21st. Two equities research analysts rated the stock with a hold rating and twenty-eight assigned a buy rating to the company. According to MarketBeat, the company currently has an average Buy rating and an average price target of $ 694.07.
Shares of ServiceNow stock opened at $ 561.08 on Thursday. ServiceNow has a 1-year low of $ 448.27 and a 1-year high of $ 707.60. The company has a debt-to-equity ratio of 0.42, current ratio of 1.13 and quick ratio of 1.13. The fifty-day average moving price of the business is $ 603.09 and its two-hundred day average moving price is $ 623.72. The company has a market capitalization of $ 111.65 billion, a P/E ratio of 514.75, a PEG ratio of 9.60 and a beta of 1.01.
ServiceNow (NYSE: NOW) last released its earnings results on Wednesday, January 26th. The information technology service provider reported $ 1.46 earnings per share (EPS) for the quarter, ahead of Zacks ’consensus estimate of $ 1.43 of $ 0.03. ServiceNow had a return on equity of 9.31% and a net margin of 3.99%. At the same time last year, the business posted $ 0.16 EPS. On average, research analysts expect ServiceNow to post 1.39 revenue per share for the current financial year.
In other ServiceNow news, CFO Gina Mastantuono sold 66 shares of the stock in a transaction dated Tuesday, November 9th. The stock was sold at an average price of $ 695.31, for a total transaction of $ 45,890.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,777 shares of the company’s stock in a transaction dated Wednesday, Nov. 10th. The shares were sold at an average price of $ 676.98, for a total value of $ 1,202,993.46. The disclosure for this sale can be found here. In the past 90 days, insiders have sold 19,655 shares of the company’s stock worth $ 11,696,731. 0.35% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently increased or decreased their stakes in the company. The Public Sector Pension Investment Board raised its stake in ServiceNow by 7.9% in the third 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 acquiring an additional 2,460 shares last quarter. ING Groep NV increased its stake in ServiceNow shares by 3.7% in the third quarter. ING Groep NV now owns 16,822 shares of the information technology services provider’s stock worth $ 10,468,000 after buying an additional 605 shares last quarter. First Growth Investment Manager LP increased its stake in ServiceNow shares by 5,759.2% in the second quarter. First Growth Investment Manager LP now owns 11,191 shares of the information technology services provider’s stock worth $ 6,150,000 after buying an additional 11,000 shares last quarter. Beaumont Asset Management LLC increased its stake in ServiceNow shares by 8.0% in the second quarter. Beaumont Asset Management LLC now owns 5,501 shares of the information technology services provider’s stock worth $ 3,023,000 after buying an additional 408 shares last quarter. Finally, Metropolitan Life Insurance Co NY increased its stake in ServiceNow shares by 97,629.4% in the second quarter. Metropolitan Life Insurance Co NY now owns 33,228 shares of the information technology services provider’s stock worth $ 18,260,000 after buying an additional 33,194 shares last quarter. Institutional investors own 86.14% of the company’s stock.
About ServiceNow
ServiceNow, Inc. is engaged in providing enterprise cloud computing solutions. The company delivers digital workflows on an enterprise cloud platform called Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for 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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