The Shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) has received a consensus recommendation of “Moderate Buy” from the thirty-four research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty have issued a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $593.29.
A number of equities research analysts recently commented on the stock. Truist Financial reduced their price target on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company 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 for the company in a research report on Thursday, July 28th. Sanford C. Bernstein assumed coverage on shares of ServiceNow in a research report on Tuesday, July 19th. They issued an “outperform” rating and a $646.00 target price for the company. Credit Suisse Group reduced their price target on shares of ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Finally, Piper Sandler reduced their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th.
ServiceNow Stock Performance
NYSE:NOW opened at $420.58 on Monday. 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 has a fifty day moving average of $445.50 and a two hundred day moving average of $469.35. The stock has a market capitalization of $84.96 billion, a PE ratio of 462.18, a P/E/G ratio of 7.96 and a beta of 0.98. ServiceNow has a fifty-two week low of $367.71 and a fifty-two week high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $1.75 billion in the quarter, compared to analysts’ expectations of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share. As a group, research analysts predict that ServiceNow will post 1.73 earnings per share for the current fiscal year.
Insider Buying and Selling at ServiceNow
In other ServiceNow news, General Counsel Russell S. Elmer sold 2,666 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $422.80, for a total value of $1,127,184.80. Following the sale, the general counsel now owns 6,627 shares of the company’s stock, valued at approximately $2,801,895.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible through this link. In other news, General Counsel Russell S. Elmer sold 2,666 shares of ServiceNow stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $422.80, for a total transaction of $1,127,184.80. Following the sale, the general counsel now owns 6,627 shares of the company’s stock, valued at approximately $2,801,895.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gina Mastantuono sold 4,262 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $439.10, for a total value of $1,871,444.20. Following the transaction, the chief financial officer now owns 4,262 shares of the company’s stock, valued at approximately $1,871,444.20. The disclosure for this sale can be found here. Insiders have sold 26,322 shares of company stock valued at $11,866,291 over the last 90 days. 0.28% of the stock is currently owned by insiders.
Institutional Investors Weigh In On The Service Now
A number of institutional investors have recently made changes to their positions in the stock. Chilton Capital Management LLC bought a new stake in shares of ServiceNow in the fourth quarter valued at approximately $25,000. OLD Second National Bank of Aurora bought a new stake in ServiceNow in the first quarter valued at about $28,000. Tortoise Investment Management LLC grew its position in shares of ServiceNow by 55.0% in 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 in the last quarter. High Net Worth Advisory Group LLC acquired a new position in shares of ServiceNow in the first quarter valued at approximately $29,000. Finally, GoalVest Advisory LLC acquired a new position in shares of ServiceNow in the first quarter valued at approximately $43,000. 87.49% of the stock is owned by institutional investors and hedge funds.
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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