ServiceNow (NYSE: NOW – Get a Rating) Cowen reduced its target price from $ 725.00 to $ 695.00 in a report released Thursday morning, the Stock Target Advisor reported.
Several other equities analysts have recently released reports on NOW. Canaccord Genuity Group lowered their price target on ServiceNow shares from $ 715.00 to $ 615.00 in a report on Thursday, January 27th. Robert W. Baird lowered their target price on ServiceNow shares from $ 650.00 to $ 600.00 in a report on Thursday, January 27th. KeyCorp reduced their price target on shares of ServiceNow from $ 692.00 to $ 613.00 and set an overweight rating on the stock in a research report on Monday. Piper Sandler upgraded shares of ServiceNow from a neutral rating to an overweight rating and set a $ 650.00 price target on the stock in a research report on Thursday, January 27th. Finally, Exane BNP Paribas downgraded ServiceNow shares from a neutral rating to a poor rating in a research report on Tuesday, March 29th. Two research analysts rated the stock with a sell rating, three assigned a hold rating and twenty-seven gave the company a buy rating. According to MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $ 667.97.
NYSE NOW shares traded down $ 10.94 during trading on Thursday, reaching $ 493.08. The company’s 9,977 shares traded, compared to its average volume of 1,805,020. The company has a 50-day simple moving average of $ 538.62 and a 200-day simple moving average of $ 593.90. 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 stock has a market capitalization of $ 98.84 billion, a PE ratio of 442.13, a P/E/G ratio of 9.42 and a beta of 1.04. ServiceNow has a 52-week low of $ 448.27 and a 52-week high of $ 707.60.
ServiceNow (NYSE: NOW-Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The information technology service provider reported $ 1.73 earnings per share (EPS) for the quarter, beating analysts ’consensus estimates of $ 1.70 by $ 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 3.90% and a return on equity of 9.43%. Business quarterly revenue rose 26.6% compared to the same quarter last year. In the same quarter last year, the company posted $ 0.50 EPS. As a group, research analysts predict that ServiceNow will post 1.85 EPS for the current year.
In other news, Director Frederic B. Luddy sold 333 shares of the company’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $ 587.50, for a total transaction of $ 195,637.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 193 shares of the company’s stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $ 525.00, for a total transaction of $ 101,325.00. Following the transaction, the chief financial officer now owns 4,011 shares in the company, valued at approximately $ 2,105,775. The disclosure for this sale can be found here. Insiders sold 31,441 shares of the company’s stock worth $ 17,985,675 in the last quarter. 0.35% of the stock is currently owned by corporate insiders.
A number of large investors have recently changed their stock holdings. CCLA Investment Management Ltd increased its holdings in ServiceNow by 7.7% in the 1st quarter. CCLA Investment Management Ltd now owns 73,566 shares of the information technology services provider’s stock worth $ 41,016,000 after purchasing an additional 5,242 shares during the period. Raised by United Asset Strategies Inc. its holdings in ServiceNow by 6.5% in the 1st quarter. United Asset Strategies Inc. now owns 27,586 shares of the information technology services provider’s stock worth $ 15,362,000 after purchasing an additional 1,676 shares during the period. Institute for Wealth Management LLC. increased its holdings in ServiceNow by 7.0% in the 1st quarter. Institute for Wealth Management LLC. now owns 3,461 shares of the information technology services provider’s stock worth $ 1,928,000 after buying an additional 225 shares during the period. TCI Wealth Advisors Inc. raised. its holdings in ServiceNow were up 4.9% in the 1st quarter. TCI Wealth Advisors Inc. now owns 1,587 shares of the information technology services provider’s stock worth $ 884,000 after buying an additional 74 shares during the period. Finally, Financial Counselors Inc. its position in ServiceNow by 3.1% in the 1st quarter. Financial Counselors Inc. now owns 19,421 shares of information technology services provider stock worth $ 10,815,000 after buying an additional 588 shares in the last quarter. Institutional investors own 86.63% 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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