ServiceNow (NYSE:NOW – Get Rating)The stock had its “hold” rating restated by investment analysts at Canaccord Genuity Group in a research note issued on Thursday, Benzinga reports.
Several other analysts have also weighed in on NOW. UBS Group dropped their price target on ServiceNow from $540.00 to $515.00 and set a “buy” rating on the stock in a report on Thursday. Oppenheimer dropped their price target on ServiceNow from $600.00 to $505.00 and set a “hold” rating on the stock in a report on Thursday. Stifel Nicolaus dropped their price target on ServiceNow from $550.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday. TheStreet lowered ServiceNow from a “b-” rating to a “c+” rating in a report on Tuesday, April 26th. Finally, Barclays reduced their price objective on ServiceNow from $560.00 to $495.00 and set an “overweight” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $589.90.
ServiceNow Trading Up 2.3 %
Shares of NOW stock opened at $446.66 on Thursday. The moving business’s fifty day moving average price is $463.62 and its 200 day moving average price is $505.90. ServiceNow has a 1-year low of $406.47 and a 1-year high of $707.60. The company has a market capitalization of $89.54 billion, a PE ratio of 406.05, a P/E/G ratio of 8.94 and a beta of 1.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.12 and a quick ratio of 1.12.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.09. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. In the same quarter last year, the company posted $0.38 earnings per share. ServiceNow’s quarterly revenue was up 24.3% on a year-over-year basis. As a group, sell-side analysts predict that ServiceNow will post 1.71 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Paul John Smith sold 412 shares of ServiceNow stock in a transaction 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 directly owns 1,755 shares in the company, valued at approximately $749,683.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. In related news, insider Paul John Smith sold 412 shares of ServiceNow stock in a transaction 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 directly owns 1,755 shares in the company, valued at approximately $749,683.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, insider Lara Caimi sold 726 shares of the firm’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $474.48, for a total value of $344,472.48. Following the completion of the sale, the insider now directly owns 99 shares of the company’s stock, valued at approximately $46,973.52. The disclosure for this sale can be found here. Insiders have sold 16,150 shares of company stock valued at $7,804,261 over the last three months. 0.28% of the stock is currently owned by insiders.
Institutional Trading Services Today
Institutional investors and hedge funds have recently made changes to their positions in the stock. Chilton Capital Management LLC purchased a new position in shares of ServiceNow in 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. High Net Worth Advisory Group LLC purchased a new position in ServiceNow during the first quarter valued at approximately $29,000. AHL Investment Management Inc. purchased a new position in ServiceNow during the fourth quarter valued at about $35,000. Finally, Lee Financial Co increased its stake in ServiceNow by 671.4% during the fourth quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 87.20% of the company’s stock.
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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