ServiceNow (NYSE:NOW – Get Rating)The stock had a “hold” rating reissued by Canaccord Genuity Group in a research note released on Thursday, Benzinga reports.
Other research analysts have also issued research reports about the company. Royal Bank of Canada reduced their price objective on ServiceNow from $670.00 to $610.00 in a report on Monday, July 18th. Wells Fargo & Company decreased their price objective on ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. Deutsche Bank Aktiengesellschaft reduced their price target on ServiceNow from $680.00 to $625.00 and set a “hold” rating on the stock in a report on Thursday. Truist Financial reduced their price target on ServiceNow from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Piper Sandler reduced their price target on ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and twenty-one 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 target price of $589.90.
ServiceNow Trading Up 2.3 %
Shares of NOW stock opened at $446.66 on Thursday. The stock’s fifty day moving average is $463.62 and its two hundred day moving average is $505.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $89.54 billion, a P/E ratio of 406.05, a PEG ratio of 8.94 and a beta of 1.03. ServiceNow has a fifty-two week low of $406.47 and a fifty-two week high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.09. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. In the same quarter last year, the company posted $0.38 EPS. research analysts anticipate that ServiceNow will post 1.71 earnings per share for the current fiscal year.
Insider Buying and Selling at ServiceNow
In other ServiceNow news, Director Frederic B. Luddy sold 707 shares of ServiceNow stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $501.92, for a total value of $354,857.44. Following the completion of the transaction, the director now directly owns 660 shares of the company’s stock, valued at approximately $331,267.20. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. In other news, COO Chirantan Jitendra Desai sold 7,000 shares of ServiceNow stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $477.52, for a total value of $3,342,640.00. Following the completion of the transaction, the chief operating officer now owns 38,980 shares in the company, valued at approximately $18,613,729.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible through this link. Also, Director Frederic B. Luddy sold 707 shares of ServiceNow stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $501.92, for a total value of $354,857.44. Following the completion of the transaction, the director now owns 660 shares of the company’s stock, valued at approximately $331,267.20. The disclosure for this sale can be found here. Insiders sold a total of 16,150 shares of company stock valued at $7,804,261 over the last three months. 0.28% of the stock is owned by corporate insiders.
Hedge Fund Weighs In On Service Now
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Walleye Capital LLC lifted its stake in ServiceNow by 54.8% during the fourth quarter. Walleye Capital LLC now owns 7,084 shares of the information technology services provider’s stock valued at $4,598,000 after purchasing an additional 2,507 shares during the last quarter. Exane Derivatives lifted its stake in ServiceNow by 7.0% during the first quarter. Exane Derivatives now owns 1,447 shares of the information technology services provider’s stock valued at $806,000 after purchasing an additional 95 shares during the last quarter. New York State Common Retirement Fund lifted its stake in ServiceNow by 1.6% during the first quarter. New York State Common Retirement Fund now owns 371,725 shares of the information technology services provider’s stock valued at $207,010,000 after buying an additional 5,941 shares during the last quarter. Amalgamated Bank lifted its stake in ServiceNow by 13.9% during the fourth quarter. Amalgamated Bank now owns 50,259 shares of the information technology services provider’s stock valued at $32,624,000 after purchasing an additional 6,128 shares during the last quarter. Finally, Morningstar Investment Services LLC purchased a new stake in ServiceNow during the fourth quarter valued at about $289,000. Hedge funds and other institutional investors own 87.20% of the company’s stock.
About ServiceNow
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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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