ServiceNow (NYSE: NOW – Get a Rating) the price target was cut by Barclays from $ 613.00 to $ 560.00 in a research note published Monday morning, The Fly reports. They currently have an overweight rating in the stock of information technology services provider.
NOW has been the subject of several other research reports. Stifel Nicolaus cut their target price on ServiceNow from $ 650.00 to $ 550.00 in a research note on Wednesday, May 25th. BNP Paribas downgraded ServiceNow from a neutral rating to a poor rating and set a $ 460.00 target price on the stock. in a research note on Tuesday, March 29th. Piper Sandler lowered their price target on ServiceNow from $ 650.00 to $ 600.00 and set an overweight rating on the stock in a research note on Wednesday, May 25th. UBS Group lowered their price target on ServiceNow to $ 570.00 in a research note on Wednesday, May 25th. Finally, KeyCorp lowered their price target on ServiceNow from $ 692.00 to $ 613.00 and set an overweight rating on the stock in a research note on Monday, April 25th. Two investment analysts rated the stock with a sell rating, two gave a hold rating and twenty-six gave a buy rating to the stock. According to MarketBeat.com, ServiceNow has an average Moderate Buy rating and an average target price of $ 633.97.
ServiceNow Trading dropped 2.0%
NYSE: NOW opened at $ 426.74 on Monday. ServiceNow has a 12-month low of $ 406.47 and a 12-month high of $ 707.60. The company has a market capitalization of $ 85.54 billion, a P/E ratio of 387.95, a P/E/G ratio of 8.90 and a beta of 1.03. The company has a debt-to-equity ratio of 0.37, current ratio of 1.12 and quick ratio of 1.12. The business has a 50 day simple moving average of $ 461.25 and a 200 day simple moving average of $ 513.76.
ServiceNow (NYSE: NOW-Get Rating) last announced its earnings results on Wednesday, April 27th. The information technology service provider reported $ 0.47 revenue per share for the quarter, beating the consensus $ 0.34 by $ 0.13. The company had revenue of $ 1.72 billion for the quarter, compared to the agreed $ 1.70 billion. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The company’s revenue for the quarter rose 26.6% on a year-over-year basis. In the same quarter last year, the business earned $ 0.50 EPS. Equities research analysts predict that ServiceNow will post 1.71 EPS for the current year.
Insiders Place Their Bets
In other ServiceNow news, COO Chirantan Jitendra Desai sold 7,000 shares of business stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $ 477.52, for a total value of $ 3,342,640.00. Following the completion of the sale, the chief operating officer now owns 38,980 shares of the company’s stock, valued at $ 18,613,729.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available via this link. In related news, Director Frederic B. Luddy sold 6,600 shares of business stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $ 497.01, for a total transaction of $ 3,280,266.00. Following the completion of the transaction, the director now owns 33,600 shares of the company’s stock, valued at approximately $ 16,699,536. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available through the SEC website. Also, COO Chirantan Jitendra Desai sold 7,000 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $ 477.52, for a total value of $ 3,342,640.00. Following the transaction, the chief operating officer now directly owns 38,980 shares of the company’s stock, valued at approximately $ 18,613,729.60. The disclosure for this sale can be found here. Insiders sold 17,577 shares of the company’s stock worth $ 8,503,327 in the last quarter. Insiders own 0.28% of the company’s stock.
The Hedge Fund Is Weighing In Service Today
Several large investors have recently increased or decreased their stakes in the company. Cavalier Investments LLC increased its stake in shares of ServiceNow by 0.7% in the 4th quarter. Cavalier Investments LLC now owns 2,475 shares of the information technology services provider’s stock worth $ 1,607,000 after buying an additional 18 shares during the period. SevenOneSeven Capital Management increased its stake in ServiceNow shares by 3.0% in the 4th quarter. SevenOneSeven Capital Management now owns 621 shares of the information technology services provider’s stock worth $ 403,000 after purchasing an additional 18 shares during the period. Expanded by Means Investment CO. Inc. its stake in ServiceNow shares of 0.6% in the 4th quarter. Means Investment CO. Inc. now owns 2,842 shares of the information technology services provider’s stock worth $ 1,845,000 after buying an additional 18 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of ServiceNow by 1.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,316 shares of the information technology services provider’s stock worth $ 854,000 after buying an additional 18 shares during the period. Finally, Financial Architects Inc increased its stake in ServiceNow shares by 5.9% in the 1st quarter. Financial Architects Inc. now owns 378 shares of the information technology services provider’s stock worth $ 211,000 after purchasing an additional 21 shares during the period. Institutional investors and hedge funds 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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