ServiceNow, Inc. (NYSE:NOW – Get Rating) insider Nicholas Tzitzon sold 2,822 shares of the business’s stock in a transaction dated Friday, July 29. The shares were sold at an average price of $438.75, for a total transaction of $1,238,152.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible through this hyperlink.
ServiceNow Stock Up 3.7 %
Shares of NOW stock opened at $471.45 on Thursday. The firm has a fifty-day moving average of $465.17 and a 200-day moving average of $504.20. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. ServiceNow, Inc. has a 12-month low of $406.47 and a 12-month high of $707.60. The company has a market capitalization of $94.51 billion, a price-to-earnings ratio of 518.08, a P/E/G ratio of 9.21 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.75 billion in the quarter, compared to the consensus estimate of $1.76 billion. In the same quarter last year, the company earned $0.38 earnings per share. The company’s revenue increased by 24.3% compared to the same quarter last year. As a group, equities research analysts predict that ServiceNow, Inc. will post 1.73 earnings per share for the current fiscal year.
Institutional Entry and Exit
Several large investors have recently added to or reduced their stakes in NOW. Chilton Capital Management LLC acquired a new position in ServiceNow during the fourth quarter valued at $25,000. OLD Second National Bank of Aurora acquired a new position in ServiceNow during the first quarter valued at $28,000. Tortoise Investment Management LLC boosted its holdings in ServiceNow by 55.0% during the second quarter. Tortoise Investment Management LLC now owns 62 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 22 shares during the last quarter. High Net Worth Advisory Group LLC acquired a new position in ServiceNow during the first quarter valued at $29,000. Finally, AHL Investment Management Inc. acquired a new position in ServiceNow during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 87.20% of the company’s stock.
Analysts Set New Price Targets
NOW has been the subject of several research reports. KeyCorp reduced their price target on shares of ServiceNow from $567.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. Cowen reduced their price target on shares of ServiceNow from $590.00 to $580.00 and set a “hold” rating on the stock in a research report on Thursday, July 28th. Citigroup reduced their price target on shares of ServiceNow from $600.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Wells Fargo & Company reduced their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. Finally, Jefferies Financial Group reduced their price target on shares of ServiceNow from $700.00 to $550.00 in a research report on Monday, May 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $589.90.
ServiceNow Company Profile
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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