ServiceNow (NYSE: NOW – Get a Rating) stock analysts at BNP Paribas downgraded from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday, FinViz reports. They currently have a $ 460.00 price target on the information technology service provider’s stock. BNP Paribas ’target price suggests a potential downside of 22.45% from the stock’s previous closing.
Other equities research analysts have also recently released reports about the company. Robert W. Baird reduced their price target on ServiceNow from $ 650.00 to $ 600.00 in a research report on Thursday, January 27th. Oppenheimer reduced their target price on ServiceNow from $ 775.00 to $ 660.00 and set an “outperform” rating on the stock in a report on Thursday, January 27th. Citigroup raised their target price on ServiceNow from $ 657.00 to $ 675.00 and gave the stock a “buy” rating in a report on Thursday, January 27th. Jefferies Financial Group reduced their target price on ServiceNow from $ 765.00 to $ 700.00 and set a “buy” rating on the stock in a report on Thursday, January 27th. Finally, Canaccord Genuity Group reduced their target price on ServiceNow from $ 715.00 to $ 615.00 in a report on Thursday, January 27th. One investment analyst rated the stock with a sell rating, two assigned a hold rating and twenty-eight gave a buy rating to the company’s stock. According to MarketBeat, ServiceNow currently has an average “Buy” rating and a consensus target price of $ 686.52.
NOW traded up $ 10.44 during trading on Tuesday, reaching $ 593.20. The company’s stock has a trading volume of 33,557 shares, compared to its average volume of 1,495,389. The company has a fast ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.40. ServiceNow has a one -year low of $ 448.27 and a one -year high of $ 707.60. The company has a market cap of $ 118.64 billion, a PE ratio of 520.36, a P/E/G ratio of 10.77 and a beta of 1.06. The 50-day simple moving average of the business is $ 557.97 and its 200-day simple moving average is $ 612.88.
ServiceNow (NYSE: NOW – Get Rating) last released its quarterly earnings results on Wednesday, January 26th. The information technology service provider reported $ 0.29 revenue per share for the quarter, ahead of Thomson Reuters ’consensus estimate of $ 0.22 of $ 0.07. The business had revenue of $ 1.61 billion for the quarter, compared to the consensus estimate of $ 1.60 billion. ServiceNow has a net margin of 3.90% and a return on equity of 9.43%. In the same period last year, the company earned $ 0.16 profit per share. Equities research analysts expect ServiceNow to post 1.86 EPS for the current financial year.
In other news, Director Frederic B. Luddy sold 333 shares of stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $ 587.50, for a total transaction of $ 195,637.50. The sale was disclosed in a document filed with the SEC, available on the SEC website. Also, insider Christopher Bedi sold 158 shares of the stock in a transaction that took place on Monday, February 14th. The shares were sold at an average price of $ 578.87, for a total value of $ 91,461.46. The disclosure for this sale can be found here. Insiders have sold a total of 40,386 shares of the company’s stock worth $ 23,239,132 over the past ninety days. Corporate insiders own 0.35% of the company’s stock.
Some hedge funds have recently made changes to their business positions. Morgan Stanley increased its position on shares of ServiceNow by 1.2% in the 2nd 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. Wedge Capital Management LLP NC bought a new position in shares of ServiceNow in the third quarter worth approximately $ 218,000. Private Advisor Group LLC increased its holdings in ServiceNow shares by 97.7% in the third quarter. Private Advisor Group LLC now owns 11,164 shares of the information technology services provider’s stock worth $ 6,947,000 after buying an additional 5,518 shares in the last quarter. Covenant Asset Management LLC increased its stake in ServiceNow by 2.8% in the 3rd quarter. Covenant Asset Management LLC now owns 2,788 shares of the information technology services provider’s stock worth $ 1,735,000 after purchasing an additional 75 shares during the period. Finally, Intersect Capital LLC lifted its holdings in ServiceNow by 8.1% in the 3rd quarter. Intersect Capital LLC now owns 717 shares of the information technology services provider’s stock worth $ 446,000 after buying an additional 54 shares in the last quarter. Institutional investors own 86.63% of the company’s stock.
ServiceNow Company Profile (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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