ServiceNow (NYSE:NOW – Get Rating) equities research analysts at Citigroup reduced their price objective from $656.00 to $600.00 in a research report issued on Thursday, The Fly reports. Citigroup’s price target suggests a potential upside of 31.33% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. StockNews.com began coverage on ServiceNow in a report on Thursday, March 31st. They set a “hold” rating on the stock. BMO Capital Markets decreased their price objective on ServiceNow from $595.00 to $520.00 in a report on Friday, July 15th. UBS Group dropped their price target on ServiceNow from $570.00 to $540.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company began coverage on ServiceNow in a research report on Wednesday, May 18th. They issued an “overweight” rating and a $600.00 target price on the stock. Finally, Morgan Stanley lowered their price target on ServiceNow from $594.00 to $575.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $631.58.
ServiceNow Price Performance
Shares of NOW opened at $456.85 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. ServiceNow has a 1 year low of $406.47 and a 1 year high of $707.60. The stock has a market cap of $91.58 billion, a P/E ratio of 415.32, a price-to-earnings-growth ratio of 8.89 and a beta of 1.03. The stock’s 50-day moving average price is $462.05 and its two-hundred-day moving average price is $512.82.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The information technology services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.13. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. In the same quarter last year, the business posted $0.50 EPS. ServiceNow’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, equities analysts predict that ServiceNow will post 1.71 earnings per share for the current year.
Internal Activity
In other news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of the sale, the director now directly owns 33,600 shares in the company, valued at approximately $16,699,536. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. In related news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of the sale, the director now directly owns 33,600 shares in the company, valued at approximately $16,699,536. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Chirantan Jitendra Desai sold 7,000 shares of the company’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 sale, the chief operating officer now owns 38,980 shares of the company’s stock, valued at $18,613,729.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,577 shares of company stock valued at $8,503,327. 0.28% of the stock is currently owned by company insiders.
Institutional Trading Services Today
Several institutional investors and hedge funds have recently modified their holdings of the business. Wealthfront Advisers LLC lifted its position in shares of ServiceNow by 27.7% during the 2nd quarter. Wealthfront Advisers LLC now owns 22,338 shares of the information technology services provider’s stock valued at $10,622,000 after buying an additional 4,839 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new position in ServiceNow in the 2nd quarter valued at about $2,377,000. The Trust Co. of Vermont acquired a new position in ServiceNow in the 2nd quarter valued at approximately $96,000. Harbor Capital Advisors LLC lifted its holdings in ServiceNow by 3.4% in the 2nd quarter. Harbor Capital Advisors LLC now owns 4,626 shares of the information technology services provider’s stock valued at $2,200,000 after purchasing an additional 154 shares during the last quarter. Finally, Inverness Counsel LLC NY boosted its holdings in ServiceNow by 29.8% in the 2nd quarter. Inverness Counsel LLC NY now owns 26,590 shares of the information technology services provider’s stock valued at $12,644,000 after purchasing an additional 6,102 shares during 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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