ServiceNow (NYSE: NOW – Get a Rating) has cut its price target by stock analysts at Jefferies Financial Group from $ 700.00 to $ 550.00 in a report released Monday, The Fly reports. Jefferies Financial Group’s target price indicates a potential increase of 26.72% from the company’s current price.
Other equities analysts have also recently released reports about the stock. BNP Paribas cut ServiceNow shares from a “neutral” rating to an “underperform” rating and set a $ 460.00 target price for the company. in a research note on Tuesday, March 29th. Deutsche Bank Aktiengesellschaft reduced their target price on ServiceNow shares from $ 700.00 to $ 680.00 in a research note on Thursday, April 28th. StockNews.com assumed coverage on parts of ServiceNow in a research note on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet cut ServiceNow shares from a “b-” rating to a “c+” rating in a research note on Tuesday, April 26th. Finally, Barclays reduced their target price on ServiceNow shares from $ 652.00 to $ 613.00 in a research note on Thursday, April 28th. Two investment analysts rated the stock with a sell rating, three assigned a hold rating and twenty-seven gave the stock a buy rating. According to data from MarketBeat.com, ServiceNow currently has an average “Buy” rating and a consensus target price of $ 653.31.
NYSE: NOW shares opened at $ 434.04 on Monday. The company has a market capitalization of $ 87.01 billion, a price-to-earnings ratio of 394.58, a P/E/G ratio of 8.35 and a beta of 1.09. The company’s 50 day simple moving average is $ 506.64 and its 200 day simple moving average is $ 567.14. The company has a debt-to-equity ratio of 0.37, current ratio of 1.12 and quick ratio of 1.12. 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 announced its earnings results on Wednesday, April 27th. The information technology service provider reported $ 1.73 EPS for the quarter, ahead of the consensus estimate of $ 1.70 of $ 0.03. The company had revenue of $ 1.72 billion for the quarter, compared to the agreed $ 1.70 billion. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. Business revenue in the quarterly rose 26.6% on a year-over-year basis. In the same period last year, the company posted $ 0.50 EPS. Equities research analysts expect ServiceNow to post 1.8 earnings per share for the current year.
In related news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $ 556.81, for a total transaction of $ 3,674,946.00. Following the completion of the sale, the director now owns 707 shares in the company, valued at $ 393,664.67. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this link. Also, insider Paul John Smith sold 412 shares of the company’s 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 sale, the insider now owns 1,755 shares of the company’s stock, valued at approximately $ 749,683.35. The disclosure for this sale can be found here. Insiders have sold 18,428 shares of the company’s stock worth $ 10,195,278 over the past ninety days. 0.35% of the stock is owned by insiders.
Some large investors have recently made changes to their business positions. Edgewood Management LLC bought a new position in shares of ServiceNow in the 1st quarter worth approximately $ 1,515,281,000. Norges Bank bought a new position in shares of ServiceNow in the 4th quarter worth approximately $ 1,117,096,000. Allspring Global Investments Holdings LLC bought a new position in shares of ServiceNow in the 4th quarter worth approximately $ 400,884,000. Fisher Asset Management LLC removed its stake in ServiceNow shares by 164.8% in 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 purchasing an additional 556,871 shares during the period. Finally, TD Asset Management Inc. its stake in ServiceNow was 84.7% in the fourth quarter. TD Asset Management Inc. now owns 1,207,201 shares of the information technology services provider’s stock worth $ 783,606,000 after buying an additional 553,517 shares last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.
About ServiceNow (Get a Rating)
ServiceNow, Inc. provides enterprise cloud computing solutions that define, develop, integrate, manage, and automate services for businesses around the world. It runs 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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