ServiceNow (NYSE:NOW – Get Rating) the target price was raised by Barclays from $495.00 to $501.00 in a report released on Tuesday morning, The Fly reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.
A number of other equities research analysts have also recently issued research reports on the stock. Citigroup reduced their price target on shares of ServiceNow from $600.00 to $575.00 and set a buy rating for the company in a research report on Thursday, July 28th. Sanford C. Bernstein began coverage on shares of ServiceNow in a research report on Tuesday, July 19th. They set an outperform rating and a $646.00 price target for the company. Mizuho cut their price target on shares of ServiceNow from $500.00 to $480.00 and set a buy rating on the stock in a research note on Monday. UBS Group cut their price target on shares of ServiceNow from $515.00 to $465.00 in a research note on Thursday, October 13th. Finally, KeyCorp cut their price target on shares of ServiceNow from $567.00 to $520.00 and set an overweight rating on the stock in a research note on Thursday, July 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twenty-eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of Moderate Buy and a consensus price target of $583.69.
ServiceNow Price Performance
Shares of NOW opened at $356.79 on Tuesday. The company has a 50-day moving average price of $427.85 and a 200-day moving average price of $455.90. ServiceNow has a fifty-two week low of $337.00 and a fifty-two week high of $707.60. The stock has a market capitalization of $72.07 billion, a PE ratio of 392.08, a PEG ratio of 6.97 and a beta of 0.98. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12.
ServiceNow (NYSE:NOW – Get Rating) last posted its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company had revenue of $1.75 billion in the quarter, compared to analysts’ expectations of $1.76 billion. In the same quarter last year, the company posted $0.38 earnings per share. ServiceNow’s revenue for the quarter was up 24.3% compared to the same quarter last year. equities analysts predict that ServiceNow will post 1.72 earnings per share for the current fiscal year.
ServiceNow Insider Activity
In other ServiceNow news, General Counsel Russell S. Elmer sold 4,812 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the transaction, the general counsel now directly owns 9,293 shares of the company’s stock, valued at $4,079,534.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. In other ServiceNow news, General Counsel Russell S. Elmer sold 4,812 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the transaction, the general counsel now directly owns 9,293 shares of the company’s stock, valued at $4,079,534.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. Also, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction on Monday, October 10th. The shares were sold at an average price of $385.46, for a total transaction of $2,544,036.00. Following the transaction, the director now directly owns 31,800 shares in the company, valued at $12,257,628. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,922 shares of company stock valued at $14,410,327. 0.28% of the stock is owned by company insiders.
Hedge Fund Weighs In On Service Now
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raised by Vanguard Group Inc. its stake in shares of ServiceNow by 1.9% in the first quarter. The Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock valued at $9,074,862,000 after buying an additional 306,106 shares in the last quarter. Polen Capital Management LLC raised its position in ServiceNow by 2.1% during the first quarter. Polen Capital Management LLC now owns 3,219,600 shares of the information technology services provider’s stock valued at $1,792,963,000 after buying an additional 67,385 shares during the last quarter. Capital International Investors increased its position in ServiceNow by 18.1% in the first quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock valued at $1,786,783,000 after buying an additional 491,835 shares during the last quarter. Sands Capital Management LLC raised its position in ServiceNow by 3.3% during the first quarter. Sands Capital Management LLC now owns 2,735,070 shares of the information technology services provider’s stock valued at $1,523,133,000 after buying an additional 87,874 shares during the last quarter. Finally, Edgewood Management LLC acquired a new stake in ServiceNow during the first quarter valued at approximately $1,515,281,000. 87.49% of the stock is owned by hedge funds and other institutional investors.
About ServiceNow
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ServiceNow, Inc provides enterprise cloud computing solutions that define, build, integrate, manage, and automate services for businesses worldwide. It powers 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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