ServiceNow, Inc. (NYSE: NOW) ‘s share price gapped up before the market opened on Thursday after the company announced better -than -expected quarterly earnings. The stock previously closed at $ 484.42, but opened at $ 540.00. ServiceNow shares last traded at $ 549.61, with a volume of 58,348 shares trading hands.
The information technology service provider reported $ 1.46 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%. At the same time last year, the company posted $ 0.16 earnings per share.
Some brokerages have weighed in recently on NOW. Bank of America lowered their target price on shares of ServiceNow from $ 725.00 to $ 680.00 and set a “buy” rating on the stock in a research report on Thursday. Canaccord Genuity Group lowered their target price on ServiceNow shares from $ 715.00 to $ 615.00 and set a “buy” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of ServiceNow from $ 820.00 to $ 700.00 and set a “buy” rating on the stock in a report on Friday, January 21st. Morgan Stanley boosted their price target on shares of ServiceNow from $ 807.00 to $ 810.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Citigroup boosted their price target on shares of ServiceNow from $ 657.00 to $ 675.00 and gave the stock a “buy” rating in a research note on Thursday. Two investment analysts rated the stock with a hold rating and twenty-eight assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average “Buy” rating and an average target price of $ 694.07.
In related news, CFO Gina Mastantuono sold 738 shares of the company’s stock in a transaction on Monday, January 10th. The stock was sold at an average price of $ 550.10, for a total transaction of $ 405,973.80. The transaction is disclosed in a document filed with the SEC, which can be accessed via this hyperlink. Also, Director Frederic B. Luddy sold 15,000 shares of business stock in a transaction dated Wednesday, January 12th. The shares were sold at an average price of $ 577.36, for a total value of $ 8,660,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 19,655 shares of the company’s stock worth $ 11,696,731 over the past three months. Company insiders own 0.35% of the company’s stock.
Institutional investors and hedge funds have recently increased or decreased their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in ServiceNow by 13.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp. now owns 36,300 shares of the information technology services provider’s stock worth $ 19,949,000 after purchasing an additional 4,284 shares during the period. Clearstead Advisors LLC raised its holdings in shares of ServiceNow by 9.0% in the 2nd quarter. Clearstead Advisors LLC now owns 241 shares of the information technology services provider’s stock worth $ 132,000 after buying an additional 20 shares in the last quarter. The Independent Advisor Alliance raised its holdings in shares of ServiceNow by 11.4% in the 2nd quarter. The Independent Advisor Alliance now owns 3,087 shares of the information technology services provider’s stock worth $ 1,696,000 after buying an additional 316 shares in the last quarter. Oxler Private Wealth LLC bought a new stake in ServiceNow in the 2nd quarter worth approximately $ 329,000. Finally, Rosenblum expanded Silverman Sutton SF Inc. CA upped its position on ServiceNow by 1.1% in the 2nd quarter. Rosenblum Silverman Sutton SF Inc. CA now owns 8,407 shares of the information technology services provider’s stock worth $ 4,620,000 after acquiring an additional 90 shares last quarter. Institutional investors own 86.14% of the company’s stock.
The stock has a market capitalization of $ 111.65 billion, a P/E ratio of 514.75, a price-to-earnings-growth ratio of 9.60 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50-day simple moving average of $ 603.09 and a 200-day simple moving average of $ 623.27.
About ServiceNow (NYSE: NOW)
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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