According to MarketBeat, ServiceNow, Inc. (NYSE: NOW) has been given an average “buy” rating by 34 research companies currently covering the company. Two analysts gave the stock a hold rating, 29 analysts gave it a buy rating, and one analyst gave the company a strong buy rating. The average 12-month price target of securities firms covering the stock last year was $648.74.
Several research analysts recently commented on the company. Needham & Company LLC raised ServiceNow’s target price from $591.00 to $641.00 in a research report on Thursday, July 29, and gave the company a “buy” rating. Wolfe Research lowered ServiceNow’s price target from $675.00 to $600.00 and rated the stock as “outperform” in a research report on Friday, June 4. Jefferies Financial Group raised ServiceNow’s price target from $625.00 to $675.00 and gave the company a “Buy” rating in a research report on Thursday, July 29. Bank of America raised ServiceNow’s price target from US$680.00 to US$700.00 and gave the company a “Buy” rating in its research report on Thursday, July 29. Finally, Truist Securities raised ServiceNow’s price target from $575.00 to $640.00, and gave the company a “buy” rating in its research report on Thursday, July 29.
The opening price of the New York Stock Exchange on Thursday was $662.65. The 50-day moving average price of the stock is US$611.37, and the 200-day moving average price is US$543.86. ServiceNow’s 52-week low was US$448.27 and the 52-week high was US$681.10. The company’s debt-to-equity ratio is 0.45, quick ratio is 1.08, and current ratio is 1.08. The stock has a market capitalization of 131.27 billion U.S. dollars, a P/E ratio of 788.88, a P/E ratio of 17.05, and a beta of 0.92.
ServiceNow (NYSE: NOW) last released its quarterly earnings results on Wednesday, July 28. The information technology service provider reported earnings per share of $1.42 for the quarter, which was $1.26 higher than the consensus estimate of $0.16. ServiceNow’s return on equity is 9.10% and its net profit margin is 3.30%. The company’s revenue for the quarter was $1.41 billion, while analysts expected it to be $1.36 billion. As a whole, research analysts predict that ServiceNow will release 1.35 earnings per share this year.
In other ServiceNow news, director Lawrence Jackson sold 422 ServiceNow shares in a transaction dated Tuesday, August 31. The stock was sold at an average price of $642.69 for a total value of $271,215.18. After the transaction is completed, the directors now own 707 shares of the company with a value of US$454,381.83. The transaction has been disclosed in a document submitted to the SEC, which can be accessed through this hyperlink. In addition, insider Fay Sien Goon sold 979 ServiceNow shares in trading on Friday, August 20. The shares were sold at an average price of US$599.36 for a total value of US$586,773.44. After the transaction is completed, insiders now own 4,498 shares of the company, valued at approximately US$2,695,921.28. The disclosure of this sale can be found here. Last quarter, insiders sold 31,208 shares of the company’s stock worth $17,359,693. Company insiders hold 0.35% of the company’s shares.
Large investors have recently increased or reduced their holdings in the company. Lyell Wealth Management LP increased its holdings of ServiceNow shares by 5.4% in the second quarter. Lyell Wealth Management LP purchased an additional 1,291 shares last quarter and now owns 25,180 shares of the information technology service provider, valued at US$13,838,000. WCM Investment Management LLC increased its holdings of ServiceNow shares by 3.4% in the first quarter. After purchasing an additional 16,627 shares last quarter, WCM Investment Management LLC now owns 505,532 shares of the information technology service provider, valued at US$252,822,000. In the first quarter, ServiceNow shares held by Capital International Investors increased by 2.9%. After purchasing an additional 80,628 shares in the previous quarter, Capital International Investors now owns 2,832,470 shares of this information technology service provider, valued at US$1,416,525,000. Marino Stram & Associates LLC purchased approximately US$4,088,000 in new shares of ServiceNow in the second quarter. Finally, RiverPark Advisors LLC increased its holdings of ServiceNow shares by 26.7% in the first quarter. After purchasing an additional 5,542 shares last quarter, RiverPark Advisors LLC now owns 26,318 shares of the information technology service provider, valued at US$13,162,000. Institutional investors hold 85.42% of the company’s shares.
About current service
ServiceNow, Inc is engaged in providing enterprise cloud computing solutions. The company provides digital workflows on a single enterprise cloud platform called Now Platform. Its product portfolio focuses on providing information technology, employee and customer workflows. It provides solutions for industries such as government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer goods.
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