ServiceNow (NYSE: NOW – Get a Rating) was downgraded by investment analysts at TheStreet from a “b-” rating to a “c+” rating in a research note given to investors on Tuesday, TheStreetRatingsTable reports.
Several other analysts have also recently released reports on NOW. Canaccord Genuity Group lowered their price target on ServiceNow from $ 715.00 to $ 615.00 in a research report on Thursday, January 27th. Morgan Stanley raised their target price on ServiceNow from $ 807.00 to $ 810.00 and gave the company an “overweight” rating in a research report on Thursday, January 27th. Canaccord Genuity Group lowered their price target on ServiceNow from $ 715.00 to $ 615.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. BMO Capital Markets lowered their target price on ServiceNow from $ 635.00 to $ 570.00 in a research report on Wednesday. Finally, Robert W. Baird reduced their price target on ServiceNow from $ 650.00 to $ 600.00 in a report on Thursday, January 27th. Two equities research analysts rated the stock with a sell rating, three assigned a hold rating and twenty-seven assigned a buy rating to the company. According to MarketBeat, the stock currently has an average “Buy” rating and an average target price of $ 676.43.
NYSE NOW shares opened at $ 466.29 on Tuesday. ServiceNow has a 52 week low of $ 448.27 and a 52 week high of $ 707.60. The business has a 50-day simple moving average of $ 539.66 and a two-hundred day simple moving average of $ 594.68. The company has a fast ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.40. The company has a market cap of $ 93.26 billion, a P/E ratio of 409.03, a P/E/G ratio of 9.42 and a beta of 1.04.
ServiceNow (NYSE: NOW – Get Rating) last released 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 business had revenue of $ 1.72 billion in the quarter, compared to the agreed $ 1.70 billion. ServiceNow had a return on equity of 9.43% and a net margin of 3.90%. The company’s revenue rose 26.6% compared to the same quarter last year. In the same quarter last year, the company earned $ 0.50 EPS. Equities research analysts expect ServiceNow to post 1.85 EPS for the current year.
In related news, insider Christopher Bedi sold 158 shares of ServiceNow stock in a transaction that took place on Monday, February 14th. The stock was sold at an average price of $ 578.87, for a total transaction of $ 91,461.46. The transaction was disclosed in a document filed with the SEC, which can be accessed via this link. Also, General Counsel Russell S. Elmer sold 2,092 shares of ServiceNow stock in a transaction that occurred on Monday, February 7th. The shares were sold at an average price of $ 577.99, for a total value of $ 1,209,155.08. The disclosure for this sale can be found here. Insiders have sold 32,141 shares of the company’s stock worth $ 18,355,758 over the past 90 days. 0.35% of the stock is currently owned by corporate insiders.
Some institutional investors have recently added or reduced their stakes in the business. Powered by BlackRock Inc. its holdings in ServiceNow were up 0.4% in the fourth quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $ 10,509,544,000 after acquiring an additional 65,623 shares in the last quarter. State Street Corp raised its stake in shares of ServiceNow by 3.2% in the fourth quarter. State Street Corp. now owns 7,870,165 shares of the information technology services provider’s stock worth $ 5,108,603,000 after buying an additional 241,296 shares last quarter. Morgan Stanley raised its stake in shares of ServiceNow by 1.2% in the second quarter. Morgan Stanley now owns 7,277,395 shares of the information technology services provider’s stock worth $ 3,999,292,000 after buying an additional 86,441 shares last quarter. Geode Capital Management LLC raised its stake in shares of ServiceNow by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 3,082,765 shares of the information technology services provider’s stock worth $ 1,995,048,000 after buying an additional 106,519 shares last quarter. Finally, Nuveen Asset Management LLC raised its stake in ServiceNow shares by 11.7% in the fourth quarter. Nuveen Asset Management LLC now owns 2,925,155 shares of the information technology services provider’s stock worth $ 1,898,748,000 after buying an additional 305,908 shares in the last quarter. 86.63% of the stock is currently owned by institutional investors and hedge funds.
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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