ServiceNow (NYSE:NOW – Get Rating) investment analysts at Citigroup decreased their target price from $656.00 to $600.00 in a report issued on Thursday, The Fly reports. Citigroup’s price objective would suggest a potential upside of 34.30% from the stock’s previous close.
NOW has been the subject of many other reports. Stifel Nicolaus dropped their target price on shares of ServiceNow from $650.00 to $550.00 in a research note on Wednesday, May 25th. Royal Bank of Canada dropped their price target on shares of ServiceNow from $670.00 to $610.00 in a research note on Monday, July 18th. Cowen dropped their target price on shares of ServiceNow from $725.00 to $695.00 in a research note on Thursday, April 28th. Piper Sandler dropped their price target on shares of ServiceNow from $650.00 to $600.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 25th. Finally, Sanford C. Bernstein initiated coverage on shares of ServiceNow in a research note on Tuesday. They set an “outperform” rating and a $646.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $624.81.
ServiceNow Trading was down 2.9%
Shares of NOW stock opened at $446.77 on Thursday. 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 $89.56 billion, a price-to-earnings ratio of 406.15, a PEG ratio of 9.31 and a beta of 1.03. ServiceNow has a 52-week low of $406.47 and a 52-week high of $707.60. The company has a 50-day simple moving average of $462.48 and a two-hundred-day simple moving average of $510.55.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, April 27th. The information technology services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.13. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. research analysts anticipate that ServiceNow will post 1.71 EPS for the current fiscal year.
ServiceNow Insider Transactions
In other news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $497.01, for a total value of $3,280,266.00. Following the completion of the sale, the director now directly owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The transaction was disclosed in a filing with the SEC, which is available on the SEC website. In other news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $497.01, for a total value of $3,280,266.00. Following the completion of the sale, the director now directly owns 33,600 shares of the company’s stock, valued at approximately $16,699,536. The transaction was disclosed in a filing with the SEC, which is available on the SEC website. Also, insider Christopher Bedi sold 495 shares of the firm’s stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $489.18, for a total transaction of $242,144.10. Following the completion of the sale, the insider now directly owns 12,977 shares of the company’s stock, valued at $6,348,088.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,577 shares of company stock valued at $8,503,327. Company insiders own 0.28% of the company’s stock.
Institutional Entry and Exit
A number of large investors have recently bought and sold shares of NOW. Chilton Capital Management LLC purchased a new stake in ServiceNow during the 4th quarter valued at approximately $25,000. OLD Second National Bank of Aurora purchased a new stake in ServiceNow in the 1st quarter valued at approximately $28,000. High Net Worth Advisory Group LLC purchased a new stake in ServiceNow in the 1st quarter valued at approximately $29,000. AHL Investment Management Inc. purchased a new stake in ServiceNow during the 4th quarter valued at approximately $35,000. Finally, Lee Financial Co increased its stake in ServiceNow by 671.4% during the 4th quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 47 shares in the last quarter. 87.20% of the stock is owned by hedge funds and other 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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