The Shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) has received a consensus recommendation of “Moderate Buy” from the thirty-five ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-two have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $598.84.
A number of research analysts have recently issued reports on NOW shares. Guggenheim initiated coverage on shares of ServiceNow in a research report on Friday, August 12th. They issued a “neutral” rating and a $510.00 target price on the stock. JMP Securities dropped their price target on shares of ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 28th. UBS Group dropped their price target on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Piper Sandler dropped 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 Thursday, July 28th. Finally, KeyCorp lowered 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.
ServiceNow Trading Up 3.2 %
NOW opened at $444.16 on Thursday. The company’s 50-day moving average is $462.81 and its 200-day moving average is $488.75. ServiceNow has a 1-year low of $406.47 and a 1-year high of $707.60. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The company has a market cap of $89.72 billion, a P/E ratio of 488.09, a PEG ratio of 8.84 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last posted its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 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 business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company earned $0.38 EPS. The company’s revenue increased by 24.3% compared to the same quarter last year. equities research analysts forecast that ServiceNow will post 1.72 earnings per share for the current fiscal year.
Insider Buying and Selling at ServiceNow
In other news, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $497.01, for a total value of $3,280,266.00. Following the sale, the director now directly owns 33,600 shares of the company’s stock, valued at $16,699,536. The sale was disclosed in a legal filing with the SEC, available at this link. In other news, insider Nicholas Tzitzon sold 2,822 shares of the stock in a transaction dated Friday, July 29. The shares were sold at an average price of $438.75, for a total value of $1,238,152.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of the transaction, the director now owns 33,600 shares in the company, valued at $16,699,536. The disclosure for this sale can be found here. Insiders have sold a total of 30,256 shares of company stock valued at $14,019,372 over the last three months. 0.28% of the stock is currently owned by insiders.
Institutional Entry and Exit
A number of institutional investors have recently modified their holdings of NOW. Chilton Capital Management LLC bought a new position in ServiceNow during the fourth quarter valued at approximately $25,000. OLD Second National Bank of Aurora purchased a new position in ServiceNow during the first quarter valued at approximately $28,000. Tortoise Investment Management LLC grew its position 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 acquiring an additional 22 shares during the last quarter. High Net Worth Advisory Group LLC purchased a new position in ServiceNow during the first quarter valued at approximately $29,000. Finally, Delos Wealth Advisors LLC purchased a new stake in shares of ServiceNow during the fourth quarter valued at approximately $40,000. 87.49% of the stock is currently owned by institutional investors.
ServiceNow Company Profile
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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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