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 stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eighteen have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $624.81.
A number of analysts recently commented on NOW shares. Cowen dropped their price target on ServiceNow from $695.00 to $590.00 and set an “outperform” rating for the company in a research note on Friday. Morgan Stanley dropped their price target on ServiceNow from $594.00 to $575.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. KeyCorp dropped their price target on ServiceNow from $692.00 to $613.00 and set an “overweight” rating for the company in a research note on Monday, April 25th. Mizuho dropped their price objective on ServiceNow from $550.00 to $520.00 and set a “buy” rating for the company in a research report on Tuesday, July 19th. Finally, Citigroup lowered their price objective on ServiceNow from $656.00 to $600.00 in a research report on Thursday.
ServiceNow Stock Drops 2.9%
Shares of ServiceNow stock opened at $446.77 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow has a 52-week low of $406.47 and a 52-week high of $707.60. The stock has a market capitalization of $89.56 billion, a price-to-earnings ratio of 406.15, a P/E/G ratio of 9.08 and a beta of 1.03. The company’s 50-day moving average price is $462.48 and its 200-day moving average price is $509.66.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The information technology services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.13. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. In the same quarter last year, the company posted $0.50 earnings per share. The company’s revenue rose 26.6% on a year-over-year basis. equities research analysts forecast that ServiceNow will post 1.71 EPS for the current year.
Insider Buying and Selling
In other ServiceNow news, COO Chirantan Jitendra Desai sold 7,000 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $477.52, for a total transaction of $3,342,640.00. Following the completion of the sale, the chief operating officer now directly owns 38,980 shares in the company, valued at approximately $18,613,729.60. The transaction was disclosed in a filing with the SEC, which is available on the SEC website. In other ServiceNow news, insider Paul John Smith sold 412 shares of the business’s stock in a transaction dated Wednesday, May 18th. The stock was traded at an average price of $427.17, for a total transaction of $175,994.04. Following the completion of the sale, the insider now directly owns 1,755 shares in the company, valued at approximately $749,683.35. The transaction was disclosed in a filing with the SEC, which is available on the SEC website. Also, COO Chirantan Jitendra Desai sold 7,000 shares of the business’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $477.52, for a total amount of $3,342,640.00. Following the sale, the chief operating officer now owns 38,980 shares of the company’s stock, valued at $18,613,729.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,577 shares of company stock valued at $8,503,327. 0.28% of the stock is owned by corporate insiders.
Institutional Entry and Exit
A number of hedge funds have recently made changes to their positions in NOW. Edgewood Management LLC purchased a new position in shares of ServiceNow during the 1st quarter valued at approximately $1,515,281,000. Norges Bank purchased a new position in shares of ServiceNow during the 4th quarter valued at approximately $1,117,096,000. Allspring Global Investments Holdings LLC bought a new position in shares of ServiceNow during the 4th quarter valued at about $400,884,000. Fisher Asset Management LLC grew its stake in shares of ServiceNow by 164.8% during the 4th quarter. Fisher Asset Management LLC now owns 894,730 shares of the information technology services provider’s stock worth $580,778,000 after acquiring an additional 556,871 shares during the period. Finally, TD Asset Management Inc. raised its stake in shares of ServiceNow by 84.7% during the 4th quarter. TD Asset Management Inc. now owns 1,207,201 shares of the information technology services provider’s stock valued at $783,606,000 after acquiring an additional 553,517 shares during the period. 87.20% 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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