ServiceNow (NYSE:NOW – Get Rating) had its target price cut by stock analysts at Citigroup from $600.00 to $575.00 in a report issued on Thursday, The Fly reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Citigroup’s price objective would suggest a potential upside of 28.73% from the company’s current price.
Several other analysts have commented on NOW. BMO Capital Markets reduced their price target on ServiceNow from $595.00 to $520.00 in a report on Friday, July 15th. UBS Group cut their price target on ServiceNow from $570.00 to $540.00 and set a “buy” rating for the company in a report on Monday, July 18th. Barclays cut their price target on ServiceNow from $613.00 to $560.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Cowen cut their price target on ServiceNow from $695.00 to $590.00 and set an “outperform” rating for the company in a report on Friday, July 22nd. Finally, Oppenheimer cut their price target on ServiceNow from $660.00 to $600.00 in a report on Thursday, April 28th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $589.90.
ServiceNow Stock Performance
Shares of NOW opened at $446.66 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow has a one year low of $406.47 and a one year high of $707.60. 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. The business has a fifty day moving average of $463.62 and a 200 day moving average of $505.90.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.53 by $0.09. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The company had revenue of $1.75 billion in the quarter, compared to analyst estimates of $1.76 billion. In the same quarter last year, the company posted $0.38 earnings per share. ServiceNow’s revenue was up 24.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow will post 1.71 EPS for the current year.
Insider Buying and Selling
In related news, COO Chirantan Jitendra Desai sold 7,000 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now directly owns 38,980 shares in the company, valued at $18,613,729.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Chirantan Jitendra Desai sold 7,000 shares of ServiceNow stock in a transaction on Friday, May 27th. The stock was sold at an average price of $477.52, for a total transaction of $3,342,640.00. Following the completion of the sale, the chief operating officer now directly owns 38,980 shares in the company, valued at $18,613,729.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total value of $3,280,266.00. Following the sale, the director now owns 33,600 shares of the company’s stock, valued at $16,699,536. 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 insiders.
Institutional Trading Services Today
Several institutional investors and hedge funds have recently made changes to their business positions. Chilton Capital Management LLC bought a new stake in shares of ServiceNow in the fourth quarter valued at about $25,000. OLD Second National Bank of Aurora bought a new stake in shares of ServiceNow in the first quarter valued at approximately $28,000. High Net Worth Advisory Group LLC bought a new stake in shares of ServiceNow in the first quarter valued at approximately $29,000. AHL Investment Management Inc. purchased a new stake in shares of ServiceNow in the fourth quarter valued at approximately $35,000. Finally, Lee Financial Co raised its holdings in shares of ServiceNow by 671.4% in the fourth quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 47 shares in the last quarter. 87.20% of the stock is currently owned by institutional investors.
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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