ServiceNow (NYSE: NOW – Get a Rating) research analysts at Stifel Nicolaus reduced its target price from $ 650.00 to $ 550.00 in a report released Wednesday, The Fly reports. Stifel Nicolaus’s target price points to a potential increase of 31.06% from the stock’s previous closing.
NOW has been the subject of many other reports. Cowen reduced their target price on ServiceNow from $ 725.00 to $ 695.00 in a report on Thursday, April 28th. Exane BNP Paribas downgraded ServiceNow from a “neutral” rating to an “underperform” rating in a research note on Tuesday, March 29th. Barclays reduced their price target on ServiceNow from $ 652.00 to $ 613.00 in a research note on Thursday, April 28th. Cowen lowered their target price on ServiceNow from $ 725.00 to $ 695.00 in a research report on Thursday, April 28th. Finally, Credit Suisse Group lowered their target price on ServiceNow from $ 800.00 to $ 700.00 in a research report on Thursday, April 28th. Two equities research 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 data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $ 643.16.
ServiceNow stock opened at $ 419.65 on Wednesday. The company has a fast ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37. ServiceNow has a 52 week low of $ 406.47 and a 52 week high of $ 707.60. The company has a market capitalization of $ 84.12 billion, a price-to-earnings ratio of 381.50, a price-to-earnings-growth ratio of 8.35 and a beta of 1.09. The stock has a 50-day moving average price of $ 502.40 and a 200-day moving average price of $ 564.28.
ServiceNow (NYSE: NOW-Get Rating) last released its earnings results on Wednesday, April 27th. The information technology service provider reported $ 1.73 EPS for the quarter, ahead of analysts ’consensus estimates of $ 1.70 of $ 0.03. ServiceNow has a return on equity of 8.66% and a net margin of 3.56%. The company had revenue of $ 1.72 billion in the quarter, compared to the consolidated $ 1.70 billion. In the same quarter last year, the company posted $ 0.50 earnings per share. The company’s revenue rose 26.6% compared to the same quarter last year. Research analysts expect ServiceNow to post 1.8 EPS for the current financial year.
In other news, insider Paul John Smith sold 412 shares of the stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $ 427.17, for a total value of $ 175,994.04. Following the transaction, the insider now owns 1,755 shares in the company, valued at approximately $ 749,683.35. The transaction was disclosed in a document filed with the SEC, available at this hyperlink. Also, Director Teresa Briggs sold 932 shares of stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $ 490.26, for a total value of $ 456,922.32. Following the completion of the transaction, the director now owns 707 shares in the company, valued at approximately $ 346,613.82. The disclosure for this sale can be found here. Insiders have sold a total of 18,428 shares of the company’s stock worth $ 10,195,278 over the past ninety days. 0.35% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently increased or decreased their stakes in the company. Chilton Capital Management LLC bought a new position in ServiceNow in the 4th quarter worth approximately $ 25,000. Eagle Bay Advisors LLC increased its stake in 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. OLD Second National Bank of Aurora bought a new position in ServiceNow in the 1st quarter worth approximately $ 28,000. High Net Worth Advisory Group LLC bought a new position in ServiceNow in the 1st quarter worth approximately $ 29,000. Finally, AHL Investment Management Inc. bought a new position in shares of ServiceNow in the 4th quarter worth approximately $ 35,000. Institutional investors and hedge funds own 87.20% 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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