ServiceNow (NYSE: NOW) Citigroup raised its price target from $ 657.00 to $ 675.00 in a report released Thursday, The Fly reports. They currently have a buy rating on the stock of the information technology service provider.
Several other research companies are also weighing in NOW. Barclays reduced their price target on ServiceNow from $ 680.00 to $ 652.00 and set an overweight rating for the company in a report on Thursday. Oppenheimer boosted their price target on ServiceNow from $ 700.00 to $ 775.00 and gave the stock an outperform rating in a report on Friday, October 22nd. Morgan Stanley boosted their price target on ServiceNow from $ 796.00 to $ 807.00 and gave the stock an overweight rating in a report on Thursday, October 28th. Deutsche Bank Aktiengesellschaft reduced their target price on ServiceNow from $ 820.00 to $ 700.00 and set a buy rating for the company in a report on Friday, January 21st. Finally, Stifel Nicolaus raised their target price on ServiceNow from $ 650.00 to $ 725.00 and gave the stock a buy rating in a report on Thursday, October 28th. Two research analysts rated the stock with a hold rating and twenty-eight gave the stock a buy rating. Based on data from MarketBeat.com, the company currently has an average Buy rating and a consensus target price of $ 694.07.
NYSE NOW shares opened at $ 561.08 on Thursday. The stock has a market cap of $ 111.65 billion, a price-to-earnings ratio of 514.75, a PEG ratio of 9.60 and a beta of 1.01. The business has a 50 day simple moving average of $ 603.09 and a 200 day simple moving average of $ 623.72. ServiceNow has a 52 week low of $ 448.27 and a 52 week high of $ 707.60. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.13 and a current ratio of 1.13.
ServiceNow (NYSE: NOW) last announced its quarterly earnings results on Wednesday, January 26th. The information technology service provider reported $ 1.46 EPS for the quarter, beating Thomson Reuters ’consensus estimate of $ 1.43 by $ 0.03. ServiceNow had a return on equity of 9.31% and a net margin of 3.99%. At the same time last year, the business posted $ 0.16 revenue per share. On average, analysts predict that ServiceNow will post 1.39 EPS for the current year.
In other news, Director Dennis Woodside bought 2,861 shares of the business’s stock in a transaction dated Monday, Nov. 8th. The shares were acquired at an average price of $ 694.58 per share, with a total value of $ 1,987,193.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 66 shares of the company’s stock in a transaction on Tuesday, November 9th. The shares were sold at an average price of $ 695.31, for a total value of $ 45,890.46. The disclosure for this sale can be found here. Insiders have sold 19,655 shares of the company’s stock worth $ 11,696,731 over the past 90 days. Company insiders own 0.35% of the company’s stock.
Several institutional investors and hedge funds have recently changed their holdings in the company. Lifted by BlackRock Inc. its stake in ServiceNow shares was 4.2% in the third quarter. BlackRock Inc. now owns 16,125,077 shares of the information technology services provider’s stock worth $ 10,034,153,000 after acquiring an additional 657,340 shares during the period. Lifted by Vanguard Group Inc. its stake in ServiceNow shares of 0.7% in the second quarter. Vanguard Group Inc. now owns 15,703,111 shares of the information technology services provider’s stock worth $ 8,629,644,000 after acquiring an additional 103,215 shares during the period. State Street Corp raised its stake in shares of ServiceNow by 1.2% in the second quarter. State Street Corp. now owns 7,591,945 shares of the information technology services provider’s stock worth $ 4,172,153,000 after acquiring an additional 88,975 shares during the period. Morgan Stanley raised its stake in shares of ServiceNow by 1.2% in the second quarter. Morgan Stanley now owns 7,277,395 shares of the information technology services provider’s stock worth $ 3,999,292,000 after acquiring an additional 86,441 shares during the period. Finally, Franklin Resources Inc. lifted. its stake in ServiceNow shares of 1.4% in the second quarter. Franklin Resources Inc. now owns 3,398,943 shares of the information technology services provider’s stock worth $ 1,867,889,000 after acquiring an additional 48,531 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.
ServiceNow Company Profile
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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