ServiceNow (NYSE: NOW – Get a Rating) had a price target that equities researchers at KeyCorp cut from $ 692.00 to $ 613.00 in a research note released Monday, Benzinga reports. The company currently has an “overweight” rating on information technology service provider stock. KeyCorp’s price target will indicate a potential increase of 30.04% from the stock’s previous closing.
Several other brokerages have commented recently on NOW. Oppenheimer lowered their price target on ServiceNow shares from $ 775.00 to $ 660.00 and set an “outperform” rating for the company in a research note on Thursday, January 27th. Citigroup lowered their target price on ServiceNow shares from $ 675.00 to $ 623.00 and set a “buy” rating for the company in a research report on Tuesday, April 19th. Barclays lowered their price target on ServiceNow shares from $ 680.00 to $ 652.00 and set an “overweight” rating for the company in a report on Thursday, January 27th. Bank of America lowered their price target on ServiceNow shares from $ 725.00 to $ 680.00 and set a “buy” rating for the company in a report on Thursday, January 27th. Finally, BNP Paribas downgraded ServiceNow shares from a “neutral” rating to an “underperform” rating and set a $ 460.00 price target for the company. in a report on Tuesday, March 29th. Two analysts rated the stock with a sell rating, three assigned a hold rating and twenty-seven assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $ 678.60.
NYSE: NOW shares opened at $ 471.40 on Monday. The company has a 50 day moving average of $ 546.73 and a 200 day moving average of $ 597.58. The stock has a market cap of $ 94.28 billion, a P/E ratio of 413.51, a P/E/G ratio of 9.42 and a beta of 1.04. ServiceNow has a 12 -month low of $ 448.27 and a 12 -month high of $ 707.60. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40.
ServiceNow (NYSE: NOW-Get Rating) last released its quarterly earnings data on Wednesday, January 26th. The information technology service provider reported $ 0.29 EPS for the quarter, beating the agreed-upon estimate of $ 0.22 by $ 0.07. The company had revenue of $ 1.61 billion in the quarter, compared to analysts ’expectations of $ 1.60 billion. ServiceNow has a net margin of 3.90% and a return on equity of 9.43%. In the same quarter last year, the company earned $ 0.16 revenue per share. On average, equities analysts predict that ServiceNow will post 1.85 earnings per share for the current financial year.
In other news, CFO Gina Mastantuono sold 2,102 shares of the company’s stock in a transaction dated Tuesday, February 8th. The shares were sold at an average price of $ 564.20, for a total value of $ 1,185,948.40. The transaction was disclosed in a filing with the SEC, available via this link. Also, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $ 556.81, for a total transaction of $ 3,674,946.00. Following the completion of the sale, the director now directly owns 707 shares in the company, valued at $ 393,664.67. The disclosure for this sale can be found here. In the past three months, insiders have sold 32,141 shares of the company’s stock worth $ 18,355,758. Insiders own 0.35% of the company’s stock.
Large investors have recently increased or decreased their stakes in the company. CLARET ASSET MANAGEMENT Corp. bought a new stake in shares of ServiceNow in the 3rd quarter worth approximately $ 204,000. The Public Sector Pension Investment Board grew its position in ServiceNow shares by 7.9% in the 3rd quarter. The Public Sector Pension Investment Board now owns 33,410 shares of the information technology services provider’s stock worth $ 20,790,000 after purchasing an additional 2,460 shares during the period. DNB Asset Management AS grew its position on ServiceNow by 6.7% in the 4th quarter. DNB Asset Management AS now owns 32,989 shares of the information technology services provider’s stock worth $ 21,413,000 after buying an additional 2,085 shares last quarter. Lloyd Advisory Services LLC. its position in ServiceNow grew by 22.5% in the 4th quarter. Lloyd Advisory Services LLC. now owns 125 shares of the information technology services provider’s stock worth $ 81,000 after buying an additional 23 shares last quarter. Finally, Zacks Investment Management increased its position in ServiceNow by 1,453.0% in the 3rd quarter. Zacks Investment Management now owns 13,511 shares of the information technology services provider’s stock worth $ 8,408,000 after buying an additional 12,641 shares last quarter. 86.63% of the stock is currently owned by hedge funds and other institutional investors.
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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