Parts of ServiceNow, Inc. (NYSE: NOW) rose 3.8% in mid -day trading on Friday after Morgan Stanley raised their target price on the stock from $ 807.00 to $ 810.00. Morgan Stanley currently has an overweight rating on the stock. ServiceNow traded as high as $ 549.51 and last traded at $ 548.89. Approximately 44,308 shares were traded during the trading period, a decrease of 98% from the average daily volume of 2,548,923 shares. The stock previously closed at $ 528.69.
Other equities research analysts have also recently released reports about the stock. Argus raised their target price on shares of ServiceNow from $ 760.00 to $ 805.00 and gave the stock a “buy” rating in a report on Tuesday, November 2nd. Truist Financial raised their target price on ServiceNow shares from $ 640.00 to $ 700.00 and gave the stock a “buy” rating in a report on Thursday, October 28th. Robert W. Baird lowered their target price on ServiceNow shares from $ 650.00 to $ 600.00 in a report Thursday. UBS Group raised their target price on shares of ServiceNow from $ 650.00 to $ 716.00 and gave the stock a “buy” rating in a report on Thursday, October 28th. Finally, Royal Bank of Canada lowered their target price on ServiceNow shares from $ 785.00 to $ 700.00 in a report on Monday. Two investment analysts rated the stock with a hold rating, twenty-nine gave a buy rating and one gave a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $ 689.16.
In other news, CFO Gina Mastantuono sold 66 shares of the company’s stock in a transaction dated Tuesday, November 9th. The shares were sold at an average price of $ 695.31, for a total transaction of $ 45,890.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, available at this link. Also, Director Frederic B. Luddy sold 15,000 shares of the company’s stock in a transaction dated Wednesday, January 12th. The stock was sold at an average price of $ 577.36, for a total transaction of $ 8,660,400.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,655 shares of the company’s stock worth $ 11,696,731. 0.35% of the stock is owned by insiders.
Some institutional investors have recently increased or decreased their stakes in NOW. Sugarloaf Wealth Management LLC grew its position on ServiceNow by 150.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the information technology services provider’s stock worth $ 25,000 after buying an additional 24 shares in the last quarter. Eagle Bay Advisors LLC raised its stake in ServiceNow by 75.0% in the third 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. Baystate Wealth Management LLC raised its stake in ServiceNow by 60.0% in the third quarter. Baystate Wealth Management LLC now owns 48 shares of the information technology services provider’s stock worth $ 30,000 after buying an additional 18 shares in the last quarter. PFG Private Wealth Management LLC bought a new stake in ServiceNow in the third quarter worth approximately $ 31,000. Finally, MV Capital Management Inc. lifted. its stake in ServiceNow was 96.2% in the third quarter. MV Capital Management Inc. now owns 51 shares of the information technology services provider’s stock worth $ 32,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.
The 50-day moving average price of the business is $ 605.38 and its 200-day moving average price is $ 623.28. The company has a fast ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $ 110.31 billion, a PE ratio of 474.46, a price-to-earnings-growth ratio of 9.60 and a beta of 1.01.
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 the consensus estimate of $ 1.43 by $ 0.03. ServiceNow had a return on equity of 9.31% and a net margin of 3.99%. In the same quarter last year, the company earned $ 0.16 EPS. On average, analysts expect ServiceNow, Inc. to post. of 1.39 EPS for the current financial year.
ServiceNow Company Profile (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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