ServiceNow, Inc. (NYSE:NOW – Get Rating) has been given an average rating of “Moderate Buy” by the thirty-five ratings firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and twenty-two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $598.84.
Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of ServiceNow from $700.00 to $680.00 in a research report on Thursday, April 28th. Cowen dropped their target price on shares of ServiceNow from $725.00 to $695.00 in a research report on Thursday, April 28th. Royal Bank of Canada dropped their price target on shares of ServiceNow from $670.00 to $610.00 in a research report on Monday, July 18th. Citigroup reduced their price target on shares of ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Finally, UBS Group reduced their price target on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating for the company in a research note on Thursday, July 28th.
ServiceNow Price Performance
Shares of NYSE NOW opened at $506.51 on Friday. ServiceNow has a fifty-two week low of $406.47 and a fifty-two week high of $707.60. The stock has a market cap of $102.32 billion, a price-to-earnings ratio of 556.60, a PEG ratio of 10.13 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. The company’s 50-day simple moving average is $468.07 and its 200-day simple moving average is $503.32.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. In the same quarter last year, the company earned $0.38 EPS. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, research analysts anticipate that ServiceNow will post 1.73 earnings per share for the current fiscal year.
ServiceNow Insider Activity
In related news, insider Paul John Smith sold 412 shares of the business’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $427.17, for a total transaction of $175,994.04. Following the transaction, the insider now owns 1,755 shares in the company, valued at $749,683.35. The sale was disclosed in a filing with the Securities & Exchange Commission, available through this link. In other ServiceNow news, COO Chirantan Jitendra Desai sold 7,000 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $477.52, for a total amount of $3,342,640.00. Following the sale, the chief operating officer now owns 38,980 shares in the company, valued at $18,613,729.60. The sale was disclosed in a filing with the SEC, which is available through the SEC’s website. Also, insider Paul John Smith sold 412 shares of the company’s stock in a transaction dated Wednesday, May 18th. The stock was traded at an average price of $427.17, for a total transaction of $175,994.04. Following the completion of the sale, the insider now owns 1,755 shares in the company, valued at approximately $749,683.35. The disclosure for this sale can be found here. Insiders have sold 33,362 shares of company stock valued at $15,644,017 over the last 90 days. 0.28% of the stock is owned by company insiders.
Institutional Investors Weigh In On The Service Now
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its holdings in ServiceNow by 5.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,869,796 shares of the information technology services provider’s stock valued at $889,126,000 after buying an additional 89,642 shares during the period. Nordea Investment Management AB boosted its holdings in ServiceNow by 4.7% in the second quarter. Nordea Investment Management AB now owns 424,993 shares of the information technology services provider’s stock valued at $196,253,000 after buying an additional 18,906 shares during the period. NewEdge Advisors LLC lifted its stake in shares of ServiceNow by 10.3% in the second quarter. NewEdge Advisors LLC now owns 12,876 shares of the information technology services provider’s stock valued at $6,123,000 after buying an additional 1,205 shares during the last quarter. NewEdge Wealth LLC lifted its stake in shares of ServiceNow by 105.1% in the second quarter. NewEdge Wealth LLC now owns 10,401 shares of the information technology services provider’s stock valued at $4,946,000 after buying an additional 5,329 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of ServiceNow by 9.9% in the second quarter. Quadrant Capital Group LLC now owns 1,323 shares of the information technology services provider’s stock valued at $629,000 after buying an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.
About ServiceNow
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ServiceNow, Inc provides enterprise cloud computing solutions that define, build, integrate, manage, and automate services for businesses worldwide. It powers 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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