ServiceNow (NYSE: NOW – Get a Rating) its target price was lowered by equities research analysts at Piper Sandler from $ 650.00 to $ 600.00 in a note issued to investors on Wednesday, The Fly reports. Piper Sandler’s price target indicates a potential increase of 42.98% from the company’s previous closing.
Several other equities research analysts have also recently weighed in NOW. Wells Fargo & Company began coverage of ServiceNow components in a research report on Wednesday, May 18th. They set an “overweight” rating and a $ 600.00 target price for the company. BNP Paribas downgraded ServiceNow from a “neutral” rating to an “underperform” rating and set a $ 460.00 target price on the stock. in a research note on Tuesday, March 29th. Credit Suisse Group reduced their target price on ServiceNow shares from $ 800.00 to $ 700.00 in a report on Thursday, April 28th. Bank of America lowered its target price on ServiceNow from $ 725.00 to $ 680.00 and set a “buy” rating on the stock in a research note on Thursday, January 27th. Finally, TheStreet cut ServiceNow shares from a “b-” rating to a “c+” rating in a research report on Tuesday, April 26th. Two research analysts rated the stock with a sell rating, three gave a hold rating and twenty-seven gave a buy rating to the company. According to MarketBeat, ServiceNow currently has an average “Buy” rating and a consensus target price of $ 651.75.
NYSE NOW shares opened at $ 419.65 on Wednesday. The company has a market cap of $ 84.12 billion, a PE ratio of 381.50, a price-to-earnings-growth ratio of 8.35 and a beta of 1.09. ServiceNow has a 1 year low of $ 406.47 and a 1 year high of $ 707.60. The company has a debt-to-equity ratio of 0.37, current ratio of 1.12 and quick ratio of 1.12. The company has a 50 day simple moving average of $ 502.40 and a 200 day simple moving average of $ 564.28.
ServiceNow (NYSE: NOW-Get Rating) last announced its earnings results on Wednesday, April 27th. The information technology service provider reported $ 1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 1.70 by $ 0.03. ServiceNow has a return on equity of 8.66% and a net margin of 3.56%. The company had revenue of $ 1.72 billion in the quarter, compared to analyst estimates of $ 1.70 billion. At the same time last year, the company posted $ 0.50 EPS. Business revenue rose 26.6% compared to the same quarter last year. As a group, research analysts expect ServiceNow to post 1.8 revenue per share for the current financial year.
In other ServiceNow news, Director Frederic B. Luddy sold 333 shares of stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $ 587.50, for a total value of $ 195,637.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. Also, Director Teresa Briggs sold 932 shares of the company’s stock in a transaction that took place on Friday, April 29th. The shares were sold at an average price of $ 490.26, for a total value of $ 456,922.32. Following the completion of the transaction, the director now owns 707 shares in the company, valued at $ 346,613.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,428 shares of the company’s stock worth $ 10,195,278. 0.35% of the stock is currently owned by company insiders.
Some hedge funds have recently changed their stock holdings. Chilton Capital Management LLC bought a new position in shares of ServiceNow in the fourth quarter worth approximately $ 25,000. Eagle Bay Advisors LLC raised its stake in ServiceNow shares by 75.0% in the third quarter. Eagle Bay Advisors LLC now owns 42 shares of the information technology services provider’s stock worth $ 27,000 after acquiring an additional 18 shares during the period. OLD Second National Bank of Aurora acquired a new stake in ServiceNow in the first quarter worth $ 28,000. High Net Worth Advisory Group LLC bought a new stake in shares of ServiceNow in the 1st quarter worth approximately $ 29,000. Finally, AHL Investment Management Inc. acquired a new stake in ServiceNow in the fourth quarter worth $ 35,000. Hedge funds and other institutional investors own 87.20% 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.
Featured Stories
Want More Great Investment Ideas?
Receive News and Ratings for ServiceNow Daily -Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for ServiceNow and related companies with a FREE daily email newsletter of MarketBeat.com.
.