ServiceNow (NYSE: NOW – Get a Rating) had the target price reduced by equities researchers at Morgan Stanley to $ 594.00 in a research note issued to investors on Wednesday, the Stock Target Advisor reports. The company currently has an “already” rating on information technology service provider stock. Morgan Stanley’s price target would suggest a potential increase of 44.75% from the company’s previous closing.
Several other analysts have commented recently on the stock. Wells Fargo & Company began coverage on parts of ServiceNow in a report Wednesday. They released a “overweight” rating and a $ 600.00 price target on the stock. BNP Paribas downgraded ServiceNow shares from a “neutral” rating to an “underperform” rating and set a $ 460.00 target price on the stock. in a report on Tuesday, March 29th. TheStreet downgraded ServiceNow shares from a “b-” rating to a “c+” rating in a report on Tuesday, April 26th. Credit Suisse Group cut their target price on ServiceNow shares from $ 800.00 to $ 700.00 in a report on Thursday, April 28th. Finally, Citigroup raised their target price on ServiceNow shares from $ 623.00 to $ 656.00 in a report on Thursday, April 28th. 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’s stock. Based on data from MarketBeat, the company has an average “Buy” rating and a consensus target price of $ 658.00.
NYSE NOW shares traded down $ 22.49 during midday trading on Wednesday, reaching $ 410.36. The company’s stock has a trading volume of 62,502 shares, compared to its average volume of 1,933,795. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average price of $ 512.02 and a 200 day moving average price of $ 573.57. ServiceNow has a one -year low of $ 406.47 and a one -year high of $ 707.60. The company has a market cap of $ 82.26 billion, a price-to-earnings ratio of 372.53, a price-to-earnings-growth ratio of 8.86 and a beta of 1.09.
ServiceNow (NYSE: NOW-Get Rating) last released its earnings results on Wednesday, April 27th. The information technology service provider reported $ 1.73 EPS for the quarter, ahead of analysts ’consensus estimates of $ 1.70 of $ 0.03. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The business had revenue of $ 1.72 billion for the quarter, compared to the consensus estimate of $ 1.70 billion. In the same period last year, the company earned $ 0.50 EPS. Business revenue for the quarter rose 26.6% on a year-over-year basis. Research analysts expect ServiceNow to post 1.8 earnings per share for the current financial year.
In related news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $ 556.81, for a total transaction of $ 3,674,946.00. Following the completion of the sale, the director now directly owns 707 shares of the company’s stock, valued at approximately $ 393,664.67. The transaction was disclosed in a legal filing with the SEC, available via this link. Also, COO Chirantan Jitendra Desai sold 5,000 shares of the company’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $ 575.44, for a total transaction of $ 2,877,200.00. The disclosure for this sale can be found here. Over the past ninety days, insiders have sold 18,974 shares of the company’s stock worth $ 10,561,473. 0.35% of the stock is owned by insiders.
Large investors have recently added or reduced their stakes in the stock. CLARET ASSET MANAGEMENT Corp. acquired a new position in ServiceNow in the 3rd quarter worth $ 204,000. The Public Sector Pension Investment Board raised its stake in ServiceNow by 7.9% in the 3rd quarter. The Public Sector Pension Investment Board now owns 33,410 shares of the information technology services provider’s stock worth $ 20,790,000 after buying an additional 2,460 shares last quarter. DNB Asset Management AS raised its stake in ServiceNow by 6.7% in the 4th quarter. DNB Asset Management AS now owns 32,989 shares of the information technology services provider’s stock worth $ 21,413,000 after buying an additional 2,085 shares last quarter. Lloyd Advisory Services LLC. raised 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 worth $ 81,000 after buying an additional 23 shares last quarter. Finally, Zacks Investment Management raised its stake in ServiceNow by 1,453.0% in the 3rd quarter. Zacks Investment Management now owns 13,511 shares of the information technology services provider’s stock worth $ 8,408,000 after buying an additional 12,641 shares last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.
About ServiceNow (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.
Featured Stories
Receive News and Ratings for ServiceNow Daily -Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for ServiceNow and related companies with a FREE daily email newsletter of MarketBeat.com.
.