ServiceNow (NYSE: NOW – Get a Rating) research analysts at Morgan Stanley lowered its price target from $ 594.00 to $ 575.00 in a report released Thursday, The Fly reports. Morgan Stanley’s target price will indicate a potential increase of 38.77% from the current stock price.
NOW has been the subject of several other research reports. Stifel Nicolaus cut their target price on ServiceNow shares from $ 650.00 to $ 550.00 in a report on Wednesday, May 25th. Jefferies Financial Group cut their target price on ServiceNow shares from $ 700.00 to $ 550.00 in a report on Monday, May 23rd. TheStreet downgraded ServiceNow shares from a “b-” rating to a “c+” rating in a report on Tuesday, April 26th. Mizuho cut their target price on ServiceNow shares from $ 650.00 to $ 550.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on ServiceNow shares from $ 700.00 to $ 680.00 in a report on Thursday, April 28th. Two equities research analysts rated the stock with a sell rating, two assigned a hold rating and twenty-five gave a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $ 640.07.
Shares of ServiceNow stock opened at $ 414.35 on Thursday. The company has a market capitalization of $ 83.06 billion, a P/E ratio of 380.25, a PEG ratio of 10.00 and a beta of 1.03. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average price of $ 462.62 and a 200 day moving average price of $ 520.46. ServiceNow has a 52 week low of $ 406.47 and a 52 week high of $ 707.60.
ServiceNow (NYSE: NOW – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The information technology service provider reported $ 0.47 EPS for the quarter, beating the consensus estimate of $ 0.34 by $ 0.13. The company had revenue of $ 1.72 billion in the quarter, compared to analyst estimates of $ 1.70 billion. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. ServiceNow’s revenue increased 26.6% on a year-on-year basis. At the same time last year, the company posted $ 0.50 EPS. As a group, research analysts expect ServiceNow to post 1.73 revenue per share for the current financial year.
In other news, insider Christopher Bedi sold 495 shares of ServiceNow stock in a transaction on Friday, April 29th. The stock was sold at an average price of $ 489.18, for a total transaction of $ 242,144.10. Following the transaction, the insider now owns 12,977 shares in the company, valued at approximately $ 6,348,088.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Also, COO Chirantan Jitendra Desai sold 7,000 shares of ServiceNow stock in a transaction on 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 owns 38,980 shares in the company, valued at approximately $ 18,613,729.60. The disclosure for this sale can be found here. Insiders have sold a total of 17,577 shares of the company’s stock worth $ 8,503,327 over the past 90 days. 0.28% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NOW. Chilton Capital Management LLC acquired a new stake in shares of ServiceNow in the 4th quarter worth approximately $ 25,000. OLD Second National Bank of Aurora acquired a new stake in shares of ServiceNow in the 1st quarter worth approximately $ 28,000. High Net Worth Advisory Group LLC acquired a new stake in shares of ServiceNow in the 1st quarter worth approximately $ 29,000. AHL Investment Management Inc. acquired a new stake in shares of ServiceNow in the 4th quarter worth approximately $ 35,000. Finally, Lee Financial Co increased its position in ServiceNow shares by 671.4% in the 4th quarter. Lee Financial Co. now owns 54 shares of the information technology services provider’s stock worth $ 35,000 after buying an additional 47 shares last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.
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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