Shares of ServiceNow, Inc. (NYSE: NOW – Get Rating) earned a consensus recommendation of “Moderate Buy” from the thirty -four brokerages currently covering the firm, MarketBeat reports. Two research analysts rated the stock with a sell rating, one gave a hold rating and fourteen assigned a buy rating to the company. The average 1 -year target price at brokers that released stock ratings last year was $ 640.70.
Several research companies commented recently on NOW. Morgan Stanley reduced their target price on shares of ServiceNow to $ 594.00 and set an “already” rating on the stock in a research note on Wednesday, May 18th. Stifel Nicolaus reduced their target price on ServiceNow shares from $ 650.00 to $ 550.00 in a research note on Wednesday, May 25th. Oppenheimer reduced their target price on ServiceNow shares from $ 660.00 to $ 600.00 in a research note on Thursday, April 28th. UBS Group reduced their target price on ServiceNow shares to $ 570.00 in a research note on Wednesday, May 25th. Finally, Royal Bank of Canada reduced their target price on shares of ServiceNow from $ 700.00 to $ 660.00 and set an “outperform” rating on the stock in a research note on Monday, April 25th.
In other news, CFO Gina Mastantuono sold 193 shares of ServiceNow stock in a transaction dated 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 owns 4,011 shares of the company’s stock, valued at approximately $ 2,105,775. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Also, Director Frederic B. Luddy sold 707 shares of ServiceNow stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $ 501.92, for a total transaction of $ 354,857.44. Following the completion of the transaction, the director now directly owns 660 shares of the company’s stock, valued at approximately $ 331,267.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,770 shares of the company’s stock worth $ 8,999,332. Insiders own 0.28% of the company’s stock.
Several hedge funds have recently made changes to their stock positions. CLARET ASSET MANAGEMENT Corp. acquired a new position in shares of ServiceNow in the 3rd quarter worth approximately $ 204,000. DNB Asset Management AS raised its position on 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 acquiring an additional 2,085 shares during the period. Walleye Capital LLC raised its position on 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. increased its stake in shares of 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, the New York State Teachers Retirement System increased its stake in 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 buying an additional 767 shares last quarter. 87.20% of the stock is owned by institutional investors and hedge funds.
The NYSE NOW opened at $ 504.09 on Friday. The company has a market cap of $ 101.05 billion, a price-to-earnings ratio of 458.26, a PEG ratio of 9.30 and a beta of 1.09. The company has a 50-day moving average of $ 464.80 and a 200-day moving average of $ 534.84. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. ServiceNow has a 1-year low of $ 406.47 and a 1-year high of $ 707.60.
ServiceNow (NYSE: NOW-Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 0.47 revenue per share for the quarter, topping the consensus estimate of $ 0.34 of $ 0.13. 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%. The company’s revenue rose 26.6% on a year-on-year basis. In the same quarter last year, the business posted $ 0.50 revenue per share. On average, analysts predict that ServiceNow will post 1.73 revenue per share for the current 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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