ServiceNow, Inc. (NYSE:NOW – Get Rating) Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $385.46, for a total value of $2,544,036.00. Following the completion of the transaction, the director now directly owns 31,800 shares in the company, valued at approximately $12,257,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
ServiceNow Trading was down 2.0%
Shares of ServiceNow stock opened at $361.90 on Friday. ServiceNow, Inc. has a 12-month low of $337.00 and a 12-month high of $707.60. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The stock has a market cap of $73.10 billion, a PE ratio of 397.69, a price-to-earnings-growth ratio of 7.76 and a beta of 0.98. The company has a 50-day moving average of $436.46 and a two-hundred-day moving average of $462.16.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company had revenue of $1.75 billion in the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. On average, research analysts expect that ServiceNow, Inc. will post 1.73 EPS for the current fiscal year.
Institutional Entry and Exit
Hedge funds have recently added to or reduced their stakes in the stock. OLD Second National Bank of Aurora acquired a new stake in shares of ServiceNow in the first quarter valued at approximately $28,000. High Net Worth Advisory Group LLC acquired a new stake in ServiceNow during the first quarter valued at approximately $29,000. Tortoise Investment Management LLC boosted its position in ServiceNow by 55.0% in the second quarter. Tortoise Investment Management LLC now owns 62 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 22 shares during the last quarter. San Luis Wealth Advisors LLC acquired a new stake in ServiceNow during the first quarter valued at approximately $49,000. Finally, GoalVest Advisory LLC acquired a new stake in ServiceNow during the first quarter valued at approximately $43,000. 87.49% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Canaccord Genuity Group dropped their price target on ServiceNow from $615.00 to $510.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. JPMorgan Chase & Co. assumed. coverage on ServiceNow in a research report on Tuesday. They set an “overweight” rating and a $460.00 target price on the stock. Piper Sandler dropped their price target on ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Mizuho dropped their target price on ServiceNow from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Finally, Truist Financial dropped their price target on ServiceNow from $600.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $587.56.
About ServiceNow
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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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