ServiceNow (NYSE: NOW – Get a Rating) its price target was lowered by equities researchers at Credit Suisse Group from $ 800.00 to $ 700.00 in a note issued to investors on Thursday, The Fly reports. Credit Suisse Group’s target price will indicate a potential increase of 50.12% from the current stock price.
A number of other research analysts have commented recently on NOW. Exane BNP Paribas downgraded ServiceNow shares from a “neutral” rating to an “underperform” rating in a research note on Tuesday, March 29th. Royal Bank of Canada cut their target price on ServiceNow shares from $ 700.00 to $ 660.00 and set an “outperform” rating for the company in a research note on Monday. BMO Capital Markets reduced their target price on ServiceNow shares from $ 635.00 to $ 570.00 in a research note on Wednesday. Bank of America cut their target price on ServiceNow shares from $ 725.00 to $ 680.00 and set a “buy” rating for the company in a research note on Thursday, January 27th. Finally, Canaccord Genuity Group cut their target price on ServiceNow shares from $ 715.00 to $ 615.00 in a research note on Thursday, January 27th. Two investment analysts rated the stock with a sell rating, three gave a hold rating and twenty-seven assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $ 669.23.
NYSE: NOW shares opened at $ 466.29 on Thursday. The company has a market cap of $ 93.26 billion, a P/E ratio of 409.03, a P/E/G ratio of 9.42 and a beta of 1.04. The stock’s 50-day moving average is $ 539.66 and its 200-day moving average is $ 594.68. ServiceNow has a 52-week low of $ 448.27 and a 52-week high of $ 707.60. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.05 and a current ratio of 1.05.
ServiceNow (NYSE: NOW-Get Rating) last released its earnings results on Wednesday, April 27th. The information technology service provider reported $ 1.73 revenue per share for the quarter, ahead of analysts ’consensus estimates of $ 1.70 of $ 0.03. ServiceNow had a return on equity of 9.43% and a net margin of 3.90%. The business had revenue of $ 1.72 billion for the quarter, compared to the agreed $ 1.70 billion. In the same period last year, the business earned $ 0.50 revenue per share. The company’s revenue for the quarter rose 26.6% compared to the same quarter last year. As a group, equities analysts predict that ServiceNow will post 1.85 EPS for the current year.
In related news, COO Chirantan Jitendra Desai sold 3,000 shares of the business’s stock in a transaction on Monday, February 14th. The shares were sold at an average price of $ 578.48, for a total value of $ 1,735,440.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this link. Also, insider Christopher Bedi sold 700 shares of the business’s stock in a transaction on Friday, January 28th. The shares were sold at an average price of $ 528.69, for a total transaction of $ 370,083.00. The disclosure for this sale can be found here. Insiders have sold a total of 32,141 shares of the company’s stock worth $ 18,355,758 over the past three months. 0.35% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Lifted by Chevy Chase Trust Holdings Inc. its position in ServiceNow by 0.7% in the 1st quarter. Chevy Chase Trust Holdings Inc. now owns 120,383 shares of information technology services provider stock worth $ 67,040,000 after buying an additional 858 shares in the last quarter. Callahan Advisors LLC lifted its position on ServiceNow by 17.3% in the 1st quarter. Callahan Advisors LLC now owns 3,710 shares of the information technology services provider’s stock worth $ 2,066,000 after buying an additional 547 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its position on ServiceNow by 15.2% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 6,725 shares of the information technology services provider’s stock worth $ 3,745,000 after buying an additional 885 shares in the last quarter. Lifted by Vestmark Advisory Solutions Inc. its position in ServiceNow by 30.6% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 9,214 shares of the information technology services provider’s stock worth $ 5,131,000 after buying an additional 2,161 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS upped its position on ServiceNow by 12.4% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 6,286 shares of the information technology services provider’s stock worth $ 3,501,000 after buying an additional 695 shares in the 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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