ServiceNow (NYSE:NOW – Get Rating) Cowen cut their price objective from $695.00 to $590.00 in a report released on Friday morning, The Fly reports.
NOW has been the subject of many other reports. Mizuho reduced their price target on ServiceNow from $550.00 to $520.00 and set a buy rating for the company in a report on Tuesday, July 19th. Credit Suisse Group reduced their price target on ServiceNow from $800.00 to $700.00 in a report on Thursday, April 28th. Royal Bank of Canada cut their price target on ServiceNow from $670.00 to $610.00 in a report on Monday, July 18th. Deutsche Bank Aktiengesellschaft decreased their price target on ServiceNow from $700.00 to $680.00 in a report on Thursday, April 28th. Finally, Piper Sandler reduced their price target on ServiceNow from $650.00 to $600.00 and set an overweight rating for the company in a report on Wednesday, May 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $624.81.
ServiceNow Trading was down 2.9%
NOW opened at $446.77 on Friday. ServiceNow has a 52 week low of $406.47 and a 52 week high of $707.60. The business has a fifty-day simple moving average of $462.48 and a 200-day simple moving average of $509.66. The company has a market cap of $89.56 billion, a P/E ratio of 406.15, a P/E/G ratio of 9.08 and a beta of 1.03. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The information technology services provider reported $0.47 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the business posted $0.50 earnings per share. The company’s quarterly revenue was up 26.6% on a year-over-year basis. On average, equities analysts expect that ServiceNow will post 1.71 earnings per share for the current year.
Insider Buying and Selling at ServiceNow
In other ServiceNow news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $446.04, for a total value of $55,755.00. Following the sale, the insider now owns 1,446 shares of the company’s stock, valued at approximately $644,973.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, insider Christopher Bedi sold 495 shares of ServiceNow stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $489.18, for a total value of $242,144.10. Following the sale, the insider now owns 12,977 shares of the company’s stock, valued at approximately $6,348,088.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul John Smith sold 125 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $446.04, for a total value of $55,755.00. Following the sale, the insider now directly owns 1,446 shares in the company, valued at approximately $644,973.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,577 shares of company stock valued at $8,503,327. 0.28% of the stock is owned by corporate insiders.
Institutional Investors Are Weighing In On The Service Today
A number of institutional investors have recently modified their holdings of NOW. Walleye Capital LLC lifted its stake in ServiceNow by 54.8% in the 4th 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. Lloyd Advisory Services LLC. lifted its stake in ServiceNow by 22.5% in the 4th quarter. Lloyd Advisory Services LLC. now owns 125 shares of the information technology services provider’s stock valued at $81,000 after buying an additional 23 shares in the last quarter. Exane Derivatives lifted its stake in ServiceNow by 7.0% in the 1st quarter. Exane Derivatives now owns 1,447 shares of the information technology services provider’s stock worth $806,000 after buying an additional 95 shares in the last quarter. Amalgamated Bank lifted its stake in ServiceNow by 13.9% in the 4th quarter. Amalgamated Bank now owns 50,259 shares of the information technology services provider’s stock valued at $32,624,000 after buying an additional 6,128 shares during the last quarter. Finally, RPG Investment Advisory LLC lifted its stake in ServiceNow by 0.3% in the 4th quarter. RPG Investment Advisory LLC now owns 10,418 shares of the information technology services provider’s stock valued at $6,762,000 after buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.
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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