ServiceNow, Inc. (NYSE:NOW – Get Rating) has earned a consensus rating of “Moderate Buy” from the thirty-five brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and twenty-two have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $598.84.
NOW has been the subject of several analyst reports. KeyCorp reduced their price target on shares of ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Sanford C. Bernstein began coverage on ServiceNow in a research note on Tuesday, July 19th. They issued an “outperform” rating and a $646.00 target price for the company. JMP Securities dropped their price target on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 28th. Truist Financial cut their price objective on ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Finally, Wells Fargo & Company lowered their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th.
ServiceNow Price Performance
Shares of NOW stock opened at $470.03 on Thursday. The company has a market capitalization of $94.95 billion, a price-to-earnings ratio of 516.52, a PEG ratio of 9.17 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 stock’s 50-day simple moving average is $462.03 and its 200-day simple moving average is $487.21. ServiceNow has a fifty-two week low of $406.47 and a fifty-two week high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS 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 had a return on equity of 7.22% and a net margin of 2.79%. The company’s revenue increased by 24.3% compared to the same quarter last year. In the same quarter last year, the company posted $0.38 EPS. As a group, equities analysts predict that ServiceNow will post 1.72 earnings per share for the current fiscal year.
ServiceNow Insider Activity
In other news, CFO Gina Mastantuono sold 4,262 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 4,262 shares in the company, valued at $1,871,444.20. The sale was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. In related news, CFO Gina Mastantuono sold 4,262 shares of ServiceNow stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $439.10, for a total value of $1,871,444.20. Following the completion of the transaction, the chief financial officer now owns 4,262 shares in the company, valued at $1,871,444.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of the sale, the director now directly owns 33,600 shares in the company, valued at $16,699,536. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,256 shares of company stock worth $14,019,372. Corporate insiders own 0.28% of the company’s stock.
Institutional Trading Services Today
A number of institutional investors have recently modified their holdings of NOW. Powered by Royal London Asset Management Ltd. its position in shares of ServiceNow by 0.5% in the 2nd quarter. Royal London Asset Management Ltd. now owns 70,204 shares of the information technology services provider’s stock valued at $33,384,000 after buying an additional 360 shares during the period. Intersect Capital LLC lifted its stake in ServiceNow by 5.4% in the second quarter. Intersect Capital LLC now owns 955 shares of the information technology services provider’s stock valued at $454,000 after buying an additional 49 shares in the last quarter. Verition Fund Management LLC boosted its holdings in shares of ServiceNow by 1,980.8% in the second quarter. Verition Fund Management LLC now owns 3,683 shares of the information technology services provider’s stock valued at $1,751,000 after acquiring an additional 3,506 shares during the period. Captrust Financial Advisors grew its position in shares of ServiceNow by 27.8% during the second quarter. Captrust Financial Advisors now owns 6,088 shares of the information technology services provider’s stock valued at $2,895,000 after acquiring an additional 1,323 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of ServiceNow by 4.4% in the second quarter. Legal & General Group Plc now owns 1,403,888 shares of the information technology services provider’s stock valued at $667,577,000 after acquiring an additional 58,756 shares during the last quarter. Hedge funds and other institutional investors own 87.49% of the company’s stock.
About ServiceNow
(Get Rating)
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.
Further Reading
Receive News and Ratings for ServiceNow Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for ServiceNow and related companies with our FREE daily email newsletter of MarketBeat.com.