ServiceNow, Inc. (NYSE: NOW – Get Rating) received an average “Buy” rating from thirty -six analysts currently covering the stock, MarketBeat Ratings reports. Two analysts rated the stock with a sell rating, two gave a hold rating and fifteen issued a buy rating to the company. The average 12-month price target among brokers who released the stock report last year was $ 638.59.
NOW has been the subject of several research reports. UBS Group lowered their target price on ServiceNow to $ 570.00 in a research report on Wednesday, May 25th. Credit Suisse Group reduced their price target on ServiceNow shares from $ 800.00 to $ 700.00 in a research report on Thursday, April 28th. Exane BNP Paribas downgraded ServiceNow shares from a “neutral” rating to an “underperform” rating in a research report on Tuesday, March 29th. Oppenheimer reduced their price target on ServiceNow from $ 660.00 to $ 600.00 in a report on Thursday, April 28th. Finally, Morgan Stanley lowered their target price on ServiceNow to $ 594.00 and set an “already” rating on the stock in a report on Wednesday, May 18th.
In other news, insider Paul John Smith sold 412 shares of ServiceNow stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $ 427.17, for a total transaction of $ 175,994.04. Following the completion of the sale, the insider now directly owns 1,755 shares in the company, valued at $ 749,683.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Bedi sold 700 shares of ServiceNow stock in a transaction on Friday, March 25th. The stock was sold at an average price of $ 581.04, for a total value of $ 406,728.00. The disclosure for this sale can be found here. Over the past 90 days, insiders have sold 10,370 shares of the company’s stock worth $ 5,559,728. 0.28% of the stock is owned by corporate insiders.
Some hedge funds have recently added or reduced their stakes to NOW. Edgewood Management LLC bought a new stake in shares of ServiceNow in the first quarter worth approximately $ 1,515,281,000. Norges Bank bought a new position in ServiceNow in the fourth quarter worth approximately $ 1,117,096,000. Allspring Global Investments Holdings LLC bought a new position in ServiceNow in the fourth quarter worth approximately $ 400,884,000. Fisher Asset Management LLC increased its stake in ServiceNow by 164.8% in the fourth quarter. Fisher Asset Management LLC now owns 894,730 shares of the information technology services provider’s stock worth $ 580,778,000 after buying an additional 556,871 shares last quarter. Finally, TD Asset Management Inc. its stake in ServiceNow was 84.7% in the fourth quarter. TD Asset Management Inc. now owns 1,207,201 shares of the information technology services provider’s stock worth $ 783,606,000 after buying an additional 553,517 shares last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.
NYSE: NOW shares opened at $ 476.29 on Tuesday. The company has a fast ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37. ServiceNow has a twelve -month low of $ 406.47 and a twelve -month high of $ 707.60. The stock’s 50 -day moving average is $ 493.67 and its 200 -day moving average is $ 557.23. The company has a market capitalization of $ 95.48 billion, a price-to-earnings ratio of 432.99, a PEG ratio of 9.62 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 $ 0.47 revenue per share for the quarter, ahead of analysts ’consensus estimates of $ 0.34 of $ 0.13. ServiceNow has a return on equity of 8.66% and a net margin of 3.56%. The company had revenue of $ 1.72 billion for the quarter, compared to analyst estimates of $ 1.70 billion. In the same period last year, the company earned $ 0.50 profit per share. ServiceNow’s revenue for the quarter rose 26.6% on a year-over-year basis. Equities research analysts expect ServiceNow to post 1.73 earnings per share for the current financial year.
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.
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