ServiceNow (NYSE: NOW – Get a Rating) research analysts at Piper Sandler reduced its price target from $ 650.00 to $ 600.00 in a research report provided to clients and investors on Wednesday, The Fly reports. Piper Sandler’s price target would suggest a potential increase of 42.98% from the stock’s previous close.
Several other equities analysts also weighed in on the company. Canaccord Genuity Group cut their price target on ServiceNow from $ 715.00 to $ 615.00 in a research note on Thursday, January 27th. Truist Financial lowered their target price on ServiceNow shares from $ 700.00 to $ 600.00 in a research report on Tuesday, May 10th. Mizuho raised their target price on ServiceNow from $ 615.00 to $ 650.00 and gave the stock a “buy” rating in a research note on Thursday, January 27th. Credit Suisse Group reduced their target price on ServiceNow shares from $ 800.00 to $ 700.00 in a research report on Thursday, April 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on ServiceNow shares from $ 700.00 to $ 680.00 in a research report on Thursday, April 28th. Two research analysts rated the stock with a sell rating, three gave a hold rating and twenty-seven assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average “Buy” rating and a consensus target price of $ 651.75.
Shares of ServiceNow stock opened at $ 419.65 on Wednesday. The stock has a market cap of $ 84.12 billion, a price-to-earnings ratio of 381.50, a PEG ratio of 8.35 and a beta of 1.09. ServiceNow has a 1 year low of $ 406.47 and a 1 year high of $ 707.60. The company has a debt-to-equity ratio of 0.37, current ratio of 1.12 and quick ratio of 1.12. The company’s 50-day moving average is $ 502.40 and its two-hundred-day moving average is $ 564.28.
ServiceNow (NYSE: NOW-Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 1.73 EPS for the quarter, beating the consensus estimate of $ 1.70 by $ 0.03. The company had revenue of $ 1.72 billion in the quarter, compared to analyst estimates of $ 1.70 billion. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. ServiceNow’s revenue increased 26.6% on a year-on-year basis. At the same time last year, the company posted $ 0.50 EPS. On average, equities analysts expect ServiceNow to post 1.8 earnings per share for the current year.
In other ServiceNow news, CFO Gina Mastantuono sold 193 shares of the company’s stock in a transaction that took place on Tuesday, April 12th. The shares were sold at an average price of $ 525.00, for a total value of $ 101,325.00. Following the completion of the transaction, the chief financial officer now directly owns 4,011 shares in the company, valued at approximately $ 2,105,775. The sale was disclosed in a filing with the SEC, available at this hyperlink. Also, Director Teresa Briggs sold 932 shares of the company’s stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $ 490.26, for a total value of $ 456,922.32. Following the transaction, the director already owns 707 shares of the company’s stock, valued at $ 346,613.82. The disclosure for this sale can be found here. In the past three months, insiders have sold 18,428 shares of the company’s stock worth $ 10,195,278. 0.35% of the stock is currently owned by insiders.
Some hedge funds and other institutional investors have recently bought and sold shares of the stock. M Holdings Securities Inc. bought a new stake in ServiceNow in the 1st quarter worth approximately $ 372,000. Advisory Services Network LLC boosted its holdings in ServiceNow shares by 68.2% in the first quarter. Advisory Services Network LLC now owns 10,318 shares of the information technology services provider’s stock worth $ 5,746,000 after acquiring an additional 4,182 shares during the period. EP Wealth Advisors LLC increased its holdings in ServiceNow by 56.5% in the 1st quarter. EP Wealth Advisors LLC now owns 1,077 shares of the information technology services provider’s stock worth $ 600,000 after buying an additional 389 shares in the last quarter. Manufacturers Life Insurance Company increased its stake in ServiceNow by 55.4% in the first quarter. Manufacturers Life Insurance Company now owns 238,412 shares of the information technology services provider’s stock worth $ 134,313,000 after acquiring an additional 85,030 shares in the last quarter. Finally, Toroso Investments LLC increased its holdings in ServiceNow shares by 1.1% in the first quarter. Toroso Investments LLC now owns 7,804 shares of the information technology services provider’s stock worth $ 4,346,000 after purchasing an additional 86 shares during the period. 87.20% of the stock is 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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