ServiceNow (NYSE: NOW) Robert W. Baird reduced its target price from $ 650.00 to $ 600.00 in a research report released Thursday, The Fly reports.
Several other equities analysts have recently released reports on NOW. Royal Bank of Canada lowered their price target on ServiceNow shares from $ 785.00 to $ 700.00 in a report on Monday, January 24th. Needham & Company LLC raised their target price on ServiceNow shares from $ 641.00 to $ 780.00 and gave the company a buy rating in a report on Monday, November 1st. Truist Financial raised their target price on ServiceNow shares from $ 640.00 to $ 700.00 and gave the company a buy rating in a report on Thursday, October 28th. Morgan Stanley raised their target price on ServiceNow shares from $ 796.00 to $ 807.00 and gave the company an overweight rating in a report on Thursday, October 28th. Finally, Credit Suisse Group lowered their target price on ServiceNow shares from $ 850.00 to $ 800.00 and set an outperform rating on the stock in a report on Thursday. Two equities research analysts rated the stock with a hold rating and twenty-eight gave a buy rating to the company’s stock. According to MarketBeat, ServiceNow currently has a consensus rating of Buy and a consensus target price of $ 694.07.
NOW opened at $ 561.08 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.42. The company has a market cap of $ 111.65 billion, a price-to-earnings ratio of 514.75, a PEG ratio of 9.60 and a beta of 1.01. The company’s 50 day moving average is $ 603.09 and its 200 day moving average is $ 623.72. ServiceNow has a 12-month low of $ 448.27 and a 12-month high of $ 707.60.
ServiceNow (NYSE: NOW) last posted its quarterly earnings data on Wednesday, January 26th. The information technology service provider reported $ 1.46 earnings per share (EPS) for the quarter, ahead of analysts ’consensus estimates of $ 1.43 of $ 0.03. ServiceNow has a net margin of 3.99% and a return on equity of 9.31%. In the same period last year, the business earned $ 0.16 EPS. As a group, analysts predict that ServiceNow will post 1.39 EPS for the current financial year.
In other ServiceNow news, CFO Gina Mastantuono sold 66 shares of the business’s stock in a transaction on Tuesday, November 9th. The shares were sold at an average price of $ 695.31, for a total transaction of $ 45,890.46. The transaction was disclosed in a legal filing with the SEC, available on the SEC website. Also, Director Dennis Woodside acquired 2,861 shares of the business’s stock in a transaction on Monday, Nov. 8th. The shares were purchased at an average price of $ 694.58 per share, for a total transaction of $ 1,987,193.38. The disclosure for this purchase can be found here. Insiders have sold 19,655 shares of the company’s stock worth $ 11,696,731 over the past 90 days. 0.35% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Sugarloaf Wealth Management LLC increased its position on ServiceNow by 150.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the information technology services provider’s stock worth $ 25,000 after acquiring an additional 24 shares last quarter. Eagle Bay Advisors LLC increased its position on 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. Baystate Wealth Management LLC boosted its stake in ServiceNow shares 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 purchasing an additional 18 shares during the period. PFG Private Wealth Management LLC bought a new stake in shares of ServiceNow in the third quarter worth $ 31,000. Finally, MV Capital Management Inc. expanded. its stake in ServiceNow shares was 96.2% in the third quarter. MV Capital Management Inc. now owns 51 shares of the information technology services provider’s stock worth $ 32,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.
About ServiceNow
ServiceNow, Inc. is engaged in providing enterprise cloud computing solutions. The company delivers digital workflows on an enterprise cloud platform called Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products. .
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