ServiceNow (NYSE: NOW – Get a Rating) analysts at Piper Sandler lowered its price target from $ 650.00 to $ 600.00 in a research note released Wednesday, The Fly reports. Piper Sandler’s price target suggests a potential increase of 42.98% from the stock’s previous close.
Several other equities research analysts commented recently on NOW. Deutsche Bank Aktiengesellschaft reduced their target price on ServiceNow from $ 700.00 to $ 680.00 in a research note on Thursday, April 28th. Oppenheimer lowered their price target on ServiceNow shares from $ 660.00 to $ 600.00 in a research note on Thursday, April 28th. Canaccord Genuity Group reduced their target price on ServiceNow shares from $ 715.00 to $ 615.00 and set a “buy” rating for the company in a report on Thursday, January 27th. Barclays cut their price target on ServiceNow shares from $ 652.00 to $ 613.00 in a research report on Thursday, April 28th. Finally, Jefferies Financial Group reduced their target price on ServiceNow shares from $ 700.00 to $ 550.00 in a research report on Monday. 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, ServiceNow currently has an average “Buy” rating and an average price target of $ 651.75.
The NYSE NOW opened at $ 419.65 on Wednesday. ServiceNow has a 12 -month low of $ 406.47 and a 12 -month high of $ 707.60. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $ 84.12 billion, a PE ratio of 381.50, a price-to-earnings-growth ratio of 8.35 and a beta of 1.09. The 50-day moving average price of the business is $ 502.40 and its two-hundred day moving average price is $ 564.28.
ServiceNow (NYSE: NOW-Get Rating) last released its earnings results on Wednesday, April 27th. The information technology service provider reported $ 1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 1.70 by $ 0.03. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The business had revenue of $ 1.72 billion for the quarter, compared to analyst estimates of $ 1.70 billion. In the same quarter last year, the business earned $ 0.50 revenue per share. ServiceNow’s revenue for the quarter rose 26.6% on a year-over-year basis. As a group, analysts predict that ServiceNow will post 1.8 revenue per share for the current financial year.
In related news, insider Paul John Smith sold 412 shares of the company’s stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $ 427.17, for a total value of $ 175,994.04. Following the completion of the transaction, the insider now directly owns 1,755 shares in the company, valued at $ 749,683.35. The sale is disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, CFO Gina Mastantuono sold 193 shares of the company’s stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $ 525.00, for a total value of $ 101,325.00. Following the sale, the chief financial officer now owns 4,011 shares in the company, valued at approximately $ 2,105,775. The disclosure for this sale can be found here. Over the past ninety days, insiders have sold 18,428 shares of the company’s stock worth $ 10,195,278. Insiders own 0.35% of the company’s stock.
Several hedge funds have recently bought and sold shares of the business. CLARET ASSET MANAGEMENT Corp. bought a new stake in ServiceNow in the third quarter worth approximately $ 204,000. DNB Asset Management AS raised its holdings in 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 holdings 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 acquiring an additional 23 shares last quarter. Zacks Investment Management increased its position on shares of ServiceNow by 1,453.0% in the third quarter. Zacks Investment Management now owns 13,511 shares of the information technology services provider’s stock worth $ 8,408,000 after acquiring an additional 12,641 shares during the period. Finally, the New York State Teachers Retirement System raised its stake in shares of ServiceNow by 0.3% in the fourth quarter. The New York State Teachers Retirement System now owns 225,098 shares of the information technology services provider’s stock worth $ 146,113,000 after acquiring an additional 767 shares last quarter. 87.20% 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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