ServiceNow, Inc. (NYSE: NOW – Get Rating) was given an average “Moderate Buy” rating by the thirty -five research firms currently covering the firm, Marketbeat.com reports. Two equities research analysts rated the stock with a sell rating, one gave a hold rating and seventeen gave a buy rating to the company. The average 12 -month price target among analysts who released ratings on the stock last year was $ 632.97.
Several analysts weighed in on NOW shares. BMO Capital Markets lowered their price target on ServiceNow shares from $ 595.00 to $ 520.00 in a research note on Friday, July 15th. Cowen lowered their price target on ServiceNow shares from $ 725.00 to $ 695.00 in a research note on Thursday, April 28th. KeyCorp lowered their price target on ServiceNow shares from $ 692.00 to $ 613.00 and set an “overweight” rating for the company in a research note on Monday, April 25th. UBS Group lowered their price target on shares of ServiceNow from $ 570.00 to $ 540.00 and set a “buy” rating for the company in a research note on Monday. Finally, Royal Bank of Canada lowered their price target on ServiceNow shares from $ 670.00 to $ 610.00 in a research note on Monday.
Insiders Place Their Bets
In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of business stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $ 497.01, for a total transaction of $ 3,280,266.00. Following the sale, the director now directly owns 33,600 shares of the company’s stock, valued at approximately $ 16,699,536. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available at this hyperlink. In other news, insider Christopher Bedi sold 495 shares of the business’s stock in a transaction that took place on Friday, April 29th. The shares were sold at an average price of $ 489.18, for a total value of $ 242,144.10. Following the transaction, the insider now owns 12,977 shares in the company, valued at approximately $ 6,348,088.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederic B. Luddy sold 6,600 shares of business stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $ 497.01, for a total transaction of $ 3,280,266.00. Following the completion of the transaction, the director now owns 33,600 shares in the company, valued at approximately $ 16,699,536. The disclosure for this sale can be found here. Insiders have sold 17,577 shares of the company’s stock worth $ 8,503,327 over the past ninety days. 0.28% of the stock is currently owned by insiders.
Institutional Entrances and Exits
Hedge funds and other institutional investors have recently changed their holdings in the company. Walleye Capital LLC lifted its position on shares of ServiceNow by 54.8% in the 4th quarter. Walleye Capital LLC now owns 7,084 shares of the information technology services provider’s stock worth $ 4,598,000 after acquiring an additional 2,507 shares during the period. Lloyd Advisory Services LLC. lifted its position in ServiceNow shares 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 acquiring an additional 23 shares during the period. Exane Derivatives lifted its position on shares of ServiceNow by 7.0% in the 1st quarter. Exane Derivatives now owns 1,447 shares of the information technology services provider’s stock worth $ 806,000 after acquiring an additional 95 shares during the period. The New York State Teachers Retirement System lifted its position on ServiceNow shares by 0.3% in the 4th quarter. The New York State Teachers Retirement System now owns 225,098 shares of the information technology services provider’s stock worth $ 146,113,000 after acquiring an additional 767 shares during the period. Finally, Amalgamated Bank raised its holdings in ServiceNow by 13.9% in the fourth quarter. Amalgamated Bank now owns 50,259 shares of the information technology services provider’s stock worth $ 32,624,000 after buying an additional 6,128 shares last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.
ServiceNow Stock Performance
The NYSE NOW opened at $ 435.94 on Wednesday. The firm has a 50-day moving average of $ 461.32 and a 200-day moving average of $ 513.21. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $ 87.39 billion, a PE ratio of 396.31, a P/E/G ratio of 8.90 and a beta of 1.03. ServiceNow has a 52-week low of $ 406.47 and a 52-week high of $ 707.60.
ServiceNow (NYSE: NOW-Get Rating) last posted its earnings results on Wednesday, April 27th. The information technology service provider reported $ 0.47 earnings per share (EPS) for the quarter, ahead of analysts ’consensus estimates of $ 0.34 of $ 0.13. The company had revenue of $ 1.72 billion in the quarter, compared to analysts ’expectations of $ 1.70 billion. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. ServiceNow’s quarterly revenue rose 26.6% compared to the same quarter last year. In the same quarter last year, the company posted $ 0.50 EPS. On average, sell-side analysts expect ServiceNow to post 1.71 EPS for the current year.
ServiceNow Company Profile
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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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