ServiceNow, Inc. (NYSE:NOW – Get Rating) saw a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 3,190,000 shares, a decrease of 20.3% from July 15th’s total of 4,000,000 shares. Based on an average daily volume of 1,860,000 shares, the short-interest ratio is currently 1.7 days.
Wall Street Analysts weigh in
Several brokerages have commented on NOW. TheStreet lowered ServiceNow from a “b-” rating to a “c+” rating in a report on Tuesday, April 26th. Cowen decreased their price objective on ServiceNow from $725.00 to $695.00 in a research report on Thursday, April 28th. Royal Bank of Canada reduced their price objective on ServiceNow from $670.00 to $610.00 in a research report on Monday, July 18th. Mizuho decreased their price objective on ServiceNow from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Finally, KeyCorp decreased their price objective on ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $598.84.
ServiceNow Stock Performance
Shares of NYSE:NOW opened at $506.51 on Monday. ServiceNow has a twelve month low of $406.47 and a twelve month high of $707.60. The company has a market cap of $102.32 billion, a PE ratio of 556.60, a price-to-earnings-growth ratio of 10.28 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 business has a fifty-day moving average of $468.07 and a 200-day moving average of $503.45.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings data 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 analyst estimates of $1.76 billion. ServiceNow has a return on equity of 7.22% and a net margin of 2.79%. The company’s revenue rose 24.3% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. On average, equities research analysts predict that ServiceNow will post 1.73 EPS for the current fiscal year.
Internal Activity
In related news, insider Paul John Smith sold 412 shares of the stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $427.17, for a total value of $175,994.04. Following the transaction, the insider now owns 1,755 shares in the company, valued at $749,683.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this link. In related news, COO Chirantan Jitendra Desai sold 7,000 shares of the stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $477.52, for a total value of $3,342,640.00. Following the transaction, the chief operating officer now owns 38,980 shares in the company, valued at $18,613,729.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this link. Also, insider Paul John Smith sold 412 shares of the stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $427.17, for a total value of $175,994.04. Following the transaction, the insider now owns 1,755 shares in the company, valued at approximately $749,683.35. The disclosure for this sale can be found here. Insiders have sold 33,362 shares of company stock valued at $15,644,017 over the last 90 days. Company insiders own 0.28% of the company’s stock.
Institutional Trading Services Today
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOW. Powered by Advisor Group Holdings Inc. its holdings in ServiceNow by 5.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 62,078 shares of the information technology services provider’s stock valued at $40,205,000 after buying an additional 3,260 shares in the last quarter. Powered by Cambridge Investment Research Advisors Inc. its holdings in ServiceNow by 2.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 19,223 shares of the information technology services provider’s stock worth $12,478,000 after purchasing an additional 523 shares during the last quarter. Frontier Wealth Management LLC boosted its holdings in ServiceNow by 26.7% during the fourth quarter. Frontier Wealth Management LLC now owns 1,591 shares of the information technology services provider’s stock valued at $1,033,000 after purchasing an additional 335 shares during the last quarter. Atria Investments LLC boosted its holdings in ServiceNow by 5.6% during the fourth quarter. Atria Investments LLC now owns 15,238 shares of the information technology services provider’s stock valued at $9,891,000 after purchasing an additional 813 shares in the last quarter. Finally, Congress Wealth Management LLC DE purchased a new position in shares of ServiceNow during the 4th quarter valued at about $299,000. 87.20% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Articles
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.
.