ServiceNow (NYSE: NOW – Get a Rating) the target price was lowered by stock analysts at Cowen from $ 725.00 to $ 695.00 in a research note issued to investors on Thursday, The Fly reports. Cowen’s price target indicates a potential increase of 49.05% from the current stock price.
Some other equities analysts have also weighed in recently on NOW. Canaccord Genuity Group cut their target price on ServiceNow shares from $ 715.00 to $ 615.00 and set a “buy” rating on the stock in a research note on Thursday, January 27th. Citigroup raised their price target on ServiceNow shares from $ 623.00 to $ 656.00 in a research report on Thursday. Canaccord Genuity Group lowered their price target on ServiceNow shares from $ 715.00 to $ 615.00 in a research report on Thursday, January 27th. TheStreet downgraded ServiceNow shares from a “b-” rating to a “c+” rating in a research report Tuesday. Finally, 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 report on Thursday, January 27th. Two investment analysts rated the stock with a sell rating, three assigned a hold rating and twenty-seven gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $ 674.57.
NYSE: NOW opened at $ 466.29 on Thursday. The company has a fast ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.40. The company has a market cap 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. ServiceNow has a fifty -two -week low of $ 448.27 and a fifty -two -week high of $ 707.60. The company’s 50-day moving average is $ 539.66 and its two-hundred-day moving average is $ 594.68.
ServiceNow (NYSE: NOW-Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The information technology service provider reported $ 1.73 revenue per share for the quarter, ahead of Zacks ’consensus estimate of $ 1.70 of $ 0.03. The company had revenue of $ 1.72 billion for the quarter, compared to the consensus estimate of $ 1.70 billion. ServiceNow has a net margin of 3.90% and a return on equity of 9.43%. ServiceNow’s revenue increased 26.6% on a year-on-year basis. In the same quarter last year, the company posted $ 0.50 profit per share. Research analysts predicted that ServiceNow will post 1.85 revenue 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 hyperlink. Also, COO Chirantan Jitendra Desai sold 3,000 shares of the company’s stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $ 578.48, for a total transaction of $ 1,735,440.00. 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. 0.35% of the stock is owned by company insiders.
Some large investors have recently changed their holdings of NOW. Chilton Capital Management LLC bought a new stake in ServiceNow in the 4th quarter worth approximately $ 25,000. Eagle Bay Advisors LLC lifted its position on ServiceNow by 75.0% in the 3rd quarter. Eagle Bay Advisors LLC now owns 42 shares of the information technology services provider’s stock worth $ 27,000 after buying an additional 18 shares in the last quarter. Baystate Wealth Management LLC lifted its position on ServiceNow by 60.0% in the 3rd quarter. Baystate Wealth Management LLC now owns 48 shares of the information technology services provider’s stock worth $ 30,000 after buying an additional 18 shares in the last quarter. Lifted by MV Capital Management Inc. its position in ServiceNow by 96.2% in the 3rd quarter. MV Capital Management Inc. now owns 51 shares of the information technology services provider’s stock worth $ 32,000 after buying an additional 25 shares last quarter. Finally, AHL Investment Management Inc. bought a new stake in ServiceNow in the 4th quarter worth approximately $ 35,000. Hedge funds and other institutional investors own 86.63% 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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