Edward Jones analysts began to ServiceNow (NYSE: NOW) In an Anlyst Ratings research report released on Wednesday. The brokerage has set a “buy” rating on the stocks of information technology service providers.
Other research analysts also recently released reports on the company. In a research report on Thursday, July 30, Raymond James raised ServiceNow’s price target from $385.00 to $490.00 and gave the stock a “Strong Buy” rating. Canaccord Genuity raised ServiceNow’s price target from US$375.00 to US$475.00 in a research report on Thursday, July 30, and gave the company a “buy” rating. Jefferies Financial Group raised ServiceNow’s price target from $465.00 to $515.00 in a research report on Thursday, July 30, and gave the company a “buy” rating. BMO Capital Markets raised ServiceNow’s price target from US$475.00 to US$562.00 in a research report on Thursday, October 15th, and gave the company an “outperform” rating. In the end, Wells Fargo & Company raised the target price of ServiceNow from US$525.00 to US$565.00 and rated the company as “overweight” in a research report on Thursday, September 17. Seven investment analysts gave the stock a hold rating, 23 gave it a buy rating, and one gave the company a strong buy rating. ServiceNow’s current consensus rating is “Buy” and the average target price is US$467.15.
NYSE: NOW’s stock opened at $518.19 on Wednesday. ServiceNow’s 52-week low was $213.99 and its 52-week high was $533.37. The stock has a market capitalization of US$99.39 billion, a P/E ratio of 140.81, a PEG of 18.62, and a beta value of 1.27. The company’s quick ratio is 1.17, current ratio is 1.17, and debt-to-equity ratio is 0.28. The 50-day moving average price of this business is US$480.83, and the 200-day moving average price is US$410.09.
ServiceNow (NYSE:NOW) last announced its quarterly earnings data on July 29 (Wednesday). The information technology service provider reported earnings per share (EPS) of $1.23 for the quarter, which was $1.03 higher than the consensus estimate of $0.20. ServiceNow’s return on equity is 11.09%, and its net interest rate is 18.42%. The company’s revenue for the quarter was $1.07 billion, while analysts’ expectations were $1.05 billion. In the same period last year, the company’s earnings per share were $0.71. The company’s revenue for the quarter increased by 28.4% over the same period last year. As a whole, stock analysts expect ServiceNow to release 0.99 EPS in this fiscal year.
In related news, director Susan Bostrom (Susan L. Bostrom) sold 1,500 ServiceNow shares in trading on Friday, August 7. The average price of the stock is US$434.30 and the total trading volume is US$651,450.00. After the transaction is completed, the directors now own 6,888 shares of the company, valued at US$2,991,458.40. The sale has been disclosed in a document filed by the US Securities and Exchange Commission (SEC), which can be accessed through this link. In addition, insider Chirantan Jitendra Desai sold 1,559 ServiceNow shares in a transaction on Monday, August 10. The average price of the stock is $430.44 and the total value is $671,055.96. After the transaction is completed, the insider now owns 994 shares of the company, valued at approximately US$427,857.36. The disclosure of this sale can be found here. In the past 90 days, insiders sold 102,787 shares of the company’s stock worth $48,034,144. Company insiders own 0.72% of the company’s shares.
Many institutional investors have recently changed their positions in stocks. CX Institutional increased its position in ServiceNow by 16.7% in the third quarter. After purchasing another 23 shares during this period, CX Institutional now owns 161 shares of information technology service providers worth $78,000. Evercore Wealth Management LLC increased its position in ServiceNow by 1.2% in the second quarter. During this period, Evercore Wealth Management LLC, after purchasing an additional 24 shares, now owns 1,964 shares of the information technology service provider worth $796,000. Orion Portfolio Solutions LLC increased its position in ServiceNow by 2.8% in the second quarter. Orion Portfolio Solutions LLC now owns 873 shares of information technology service providers, valued at $354,000, during which the company purchased another 24 shares. Meridian Wealth Management LLC increased its position in ServiceNow by 1.1% in the third quarter. Meridian Wealth Management LLC now owns 2,293 shares of the information technology service provider, and after purchasing another 24 shares during this period, its value is US$111,200. In the end, Nelson Vandenberg & Campbell Wealth Management Group LLC increased its position in ServiceNow by 43.9% in the second quarter. Nelson Vandenberg & Campbell Wealth Management Group LLC currently owns 82 shares of information technology service providers and purchased another 25 shares during this period, valued at $33,000. Hedge funds and other institutional investors own 90.05% of the company’s shares.
About ServiceNow
ServiceNow, Inc provides enterprise cloud computing solutions that define, organize, manage and automate services for global enterprises. The company provides information technology (IT) service management applications and digital workflow products for customer service, human resources, security operations, integrated risk management, and other corporate departments.
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