ServiceNow (NYSE: NOW – Get a Rating) equities researchers at Oppenheimer lowered its target price from $ 660.00 to $ 600.00 in a report released Thursday, The Fly reports. Oppenheimer’s price target would indicate a potential increase of 28.68% from the company’s current price.
Several other research companies have commented recently on NOW. StockNews.com began coverage of ServiceNow shares in a report on Thursday, March 31st. They gave a “hold” rating to the stock. Cowen lowered their target price on ServiceNow shares from $ 725.00 to $ 695.00 in a report Thursday. Credit Suisse Group reduced their target price on ServiceNow shares from $ 800.00 to $ 700.00 in a research report on Thursday. Royal Bank of Canada reduced their target price on ServiceNow shares from $ 700.00 to $ 660.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Mizuho boosted their price target on ServiceNow shares from $ 615.00 to $ 650.00 and gave the stock a “buy” rating in a research report on Thursday, January 27th. Two investment analysts rated the stock with a sell rating, three assigned a hold rating and twenty-seven assigned a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow currently has an average “Buy” rating and an average price target of $ 669.23.
NYSE: NOW shares opened at $ 466.29 on Thursday. The company has a debt-to-equity ratio of 0.40, current ratio of 1.05 and quick ratio of 1.05. ServiceNow has a 1-year low of $ 448.27 and a 1-year high of $ 707.60. The company has a market capitalization 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. The company’s 50-day simple moving average is $ 539.66 and its two-hundred-day simple moving average is $ 594.68.
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. ServiceNow has a net margin of 3.90% and a return on equity of 9.43%. The company had revenue of $ 1.72 billion for the quarter, compared to the agreed $ 1.70 billion. In the same quarter last year, the company earned $ 0.50 revenue per share. The company’s quarterly revenue rose 26.6% compared to the same quarter last year. On average, sell-side analysts expect ServiceNow to post 1.85 revenue per share for the current financial year.
In other ServiceNow news, insider Christopher Bedi sold 700 shares of stock in a transaction dated Friday, January 28th. The shares were sold at an average price of $ 528.69, for a total transaction of $ 370,083.00. The transaction is disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, Director Frederic B. Luddy sold 6,600 shares of stock in a transaction dated Tuesday, February 8th. The shares were sold at an average price of $ 582.16, for a total transaction of $ 3,842,256.00. The disclosure for this sale can be found here. Over the past ninety days, insiders have sold 32,141 shares of the company’s stock worth $ 18,355,758. 0.35% of the stock is owned by insiders.
Some hedge funds have recently added or reduced their stakes to NOW. Baystate Wealth Management LLC increased its holdings in shares of ServiceNow by 60.0% in the third quarter. Baystate Wealth Management LLC now owns 48 shares of the information technology services provider’s stock worth $ 30,000 after acquiring an additional 18 shares in the last quarter. Eagle Bay Advisors LLC increased its holdings in shares of ServiceNow 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 in the last quarter. Cavalier Investments LLC increased its holdings in shares of ServiceNow by 0.7% in the fourth quarter. Cavalier Investments LLC now owns 2,475 shares of the information technology services provider’s stock worth $ 1,607,000 after acquiring an additional 18 shares in the last quarter. SevenOneSeven Capital Management increased its holdings in shares of ServiceNow by 3.0% in the fourth quarter. SevenOneSeven Capital Management now owns 621 shares of the information technology services provider’s stock worth $ 403,000 after acquiring an additional 18 shares in the last quarter. Finally, Means Investment CO. Inc. its holdings in ServiceNow shares of 0.6% in the fourth quarter. Means Investment CO. Inc. now owns 2,842 shares of the information technology services provider’s stock worth $ 1,845,000 after acquiring an additional 18 shares in the last quarter. 86.63% of the stock is owned by institutional investors and hedge funds.
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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