ServiceNow (NYSE: NOW – Get a Rating) equities researchers at Citigroup reduced its target price from $ 675.00 to $ 623.00 in a report released Tuesday, The Fly reports. Citigroup’s price target suggests a potential increase of 25.22% from the company’s previous closure.
Other equities research analysts have also recently released research reports about the stock. BNP Paribas cut ServiceNow shares from a “neutral” rating to an “underperform” rating and set a $ 460.00 target price on the stock. in a research report on Tuesday, March 29th. BMO Capital Markets boosted their price target on shares of ServiceNow from $ 600.00 to $ 635.00 and gave the stock an “outperform” rating in a research report on Thursday, January 27th. Canaccord Genuity Group reduced their target price on ServiceNow shares from $ 715.00 to $ 615.00 and set a “buy” rating on the stock in a research report on Thursday, January 27th. Oppenheimer reduced their target price on ServiceNow shares from $ 775.00 to $ 660.00 and set an “outperform” rating on the stock in a research report on Thursday, January 27th. Finally, Robert W. Baird reduced their target price on ServiceNow shares from $ 650.00 to $ 600.00 in a research report on Thursday, January 27th. Two investment analysts rated the stock with a sell rating, three gave a hold rating and twenty-seven gave a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $ 684.84.
NOW the stock opened at $ 497.53 on Tuesday. ServiceNow has a one -year low of $ 448.27 and a one -year high of $ 707.60. The company’s fifty-day moving average price is $ 554.83 and its 200-day moving average price is $ 601.35. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $ 99.51 billion, a PE ratio of 436.43, a price-to-earnings-growth ratio of 9.72 and a beta of 1.04.
ServiceNow (NYSE: NOW-Get Rating) last released its earnings results on Wednesday, January 26th. The information technology service provider reported $ 0.29 EPS for the quarter, leading the consensus estimate of $ 0.22 of $ 0.07. ServiceNow has a net margin of 3.90% and a return on equity of 9.43%. The company had revenue of $ 1.61 billion for the quarter, compared to the consolidated $ 1.60 billion. In the same quarter last year, the company earned $ 0.16 profit per share. On average, research analysts predict that ServiceNow will post 1.86 EPS for the current financial year.
In other news, insider Christopher Bedi sold 700 shares of the company’s stock in a transaction dated Friday, January 28th. The shares were sold at an average price of $ 528.69, for a total value of $ 370,083.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this link. Also, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 8th. The stock was sold at an average price of $ 582.16, for a total transaction of $ 3,842,256.00. The disclosure for this sale can be found here. Over the past ninety days, insiders have sold 32,141 shares of the company’s stock worth $ 18,355,758. 0.35% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently increased or decreased their stakes in the business. Chilton Capital Management LLC bought a new position in ServiceNow in the fourth quarter worth $ 25,000. Eagle Bay Advisors LLC increased its holdings in ServiceNow by 75.0% in the third quarter. Eagle Bay Advisors LLC now owns 42 shares of the information technology services provider’s stock worth $ 27,000 after buying an additional 18 shares in the last quarter. Baystate Wealth Management LLC increased its holdings in ServiceNow by 60.0% in the third quarter. Baystate Wealth Management LLC now owns 48 shares of the information technology services provider’s stock worth $ 30,000 after buying an additional 18 shares in the last quarter. PFG Private Wealth Management LLC bought a new position in ServiceNow in the third quarter worth $ 31,000. Finally, MV Capital Management Inc. expanded. its holdings in ServiceNow by 96.2% in the third quarter. MV Capital Management Inc. now owns 51 shares of the information technology services provider’s stock worth $ 32,000 after buying an additional 25 shares last quarter. 86.63% of the stock is currently 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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