ServiceNow (NYSE: NOW) its price target was raised by Morgan Stanley from $ 807.00 to $ 810.00 in a report released Thursday morning, Price Targets.com reports. Morgan Stanley currently has an overweight rating in information technology service provider stock.
Several other equities research analysts have also recently released reports on NOW. Citigroup raised their target price on ServiceNow from $ 657.00 to $ 675.00 and gave the stock a buy rating in a report on Thursday. KeyCorp raised their target price on ServiceNow from $ 718.00 to $ 765.00 and gave the stock an overweight rating in a report on Thursday, October 28th. FBN Securities boosted their price target on ServiceNow from $ 650.00 to $ 700.00 and gave the stock an outperform rating in a research note on Thursday, October 28th. JMP Securities boosted their price target on ServiceNow from $ 639.00 to $ 705.00 and gave the stock a market outperform rating in a research note on Monday, October 11th. Finally, Robert W. Baird reduced their price target on ServiceNow from $ 650.00 to $ 600.00 in a research note on Thursday. Two research analysts rated the stock with a hold rating and twenty-eight gave a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of Buy and a consensus price target of $ 694.07.
Shares of NOW stock opened at $ 561.08 on Thursday. ServiceNow has a 12-month low of $ 448.27 and a 12-month high of $ 707.60. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.42. The 50-day moving average price of the stock is $ 603.09 and its 200-day moving average price is $ 624.15. The stock has a market capitalization of $ 111.65 billion, a price-to-earnings ratio of 514.75, a price-to-earnings-growth ratio of 9.60 and a beta of 1.01.
ServiceNow (NYSE: NOW) last released its earnings results on Wednesday, January 26th. The information technology service provider reported $ 1.46 earnings per share (EPS) for the quarter, ahead of Thomson Reuters ’consensus estimate of $ 1.43 of $ 0.03. ServiceNow had a return on equity of 9.31% and a net margin of 3.99%. In the same period last year, the business earned $ 0.16 EPS. As a group, research analysts predict that ServiceNow will post 1.39 EPS for the current financial year.
In related news, Director Dennis Woodside bought 2,861 shares of the stock in a transaction on Monday, November 8th. The stock was purchased at an average price of $ 694.58 per share, for a total transaction of $ 1,987,193.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,777 shares of the company’s stock in a transaction on Wednesday, Nov. 10th. The stock was sold at an average price of $ 676.98, for a total value of $ 1,202,993.46. The disclosure for this sale can be found here. Insiders sold 19,655 shares of the company’s stock worth $ 11,696,731 in the last quarter. 0.35% of the stock is owned by company insiders.
Some institutional investors have recently bought and sold shares of NOW. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in ServiceNow by 13.4% in the second 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. Raised by Scotia Capital Inc. its position in ServiceNow shares of 123.0% in the second quarter. Scotia Capital Inc. now owns 8,577 shares of the information technology services provider’s stock worth $ 4,714,000 after buying an additional 4,731 shares in the last quarter. The State of Wisconsin Investment Board increased its position on shares of ServiceNow by 36.7% in the second quarter. The State of Wisconsin Investment Board now owns 177,520 shares of the information technology services provider’s stock worth $ 97,556,000 after buying an additional 47,701 shares in the last quarter. Champlain Investment Partners LLC raised its position in ServiceNow shares by 1.3% in the second quarter. Champlain Investment Partners LLC now owns 213,803 shares of the information technology services provider’s stock worth $ 117,495,000 after buying an additional 2,815 shares in the last quarter. Finally, Clearstead Advisors LLC increased its position on shares of ServiceNow by 9.0% in the second 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. Institutional investors own 86.14% of the company’s stock.
About ServiceNow
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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