ServiceNow (NYSE:NOW – Get Rating) had its price target cut by investment analysts at Cowen from $580.00 to $510.00 in a report issued on Wednesday, The Fly reports. The brokerage currently has an “outperform” rating on the information technology services provider’s stock. Cowen’s price target would indicate a potential upside of 43.15% from the stock’s current price.
Several other research firms have also weighed in on NOW. Sanford C. Bernstein began coverage on ServiceNow in a research note on Tuesday, July 19th. They issued an “outperform” rating and a $646.00 price objective on the stock. KeyCorp dropped their price objective 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. Credit Suisse Group reduced their price target on shares of ServiceNow from $700.00 to $650.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Moffett Nathanson initiated coverage on shares of ServiceNow in a report on Thursday, September 22nd. They set a “hold” rating and a $553.00 target price for the company. Finally, Truist Financial dropped their price target on shares of ServiceNow from $600.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $571.91.
ServiceNow Stock Up 0.2 %
Shares of NYSE:NOW opened at $356.26 on Wednesday. The stock’s 50-day moving average price is $421.78 and its two-hundred-day moving average price is $454.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. ServiceNow has a 12-month low of $337.00 and a 12-month high of $707.60. The company has a market cap of $71.96 billion, a price-to-earnings ratio of 391.49, a PEG ratio of 7.11 and a beta of 0.98.
ServiceNow (NYSE:NOW – Get Rating ) last released its quarterly earnings data on Wednesday, July 27. The information technology services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate. $0.12 of $0.08. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company’s revenue increased by 24.3% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. On average, research analysts predict that ServiceNow will post 1.72 EPS for the current year.
Internal Activity
In other news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $385.46, for a total value of $2,544,036.00. Following the completion of the transaction, the director now directly owns 31,800 shares of the company’s stock, valued at approximately $12,257,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, available at this link. In related news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $385.46, for a total value of $2,544,036.00. Following the sale, the director now directly owns 31,800 shares in the company, valued at approximately $12,257,628. The sale was disclosed in a legal filing with the SEC, which is available on the SEC website. Also, insider Nicholas Tzitzon sold 2,822 shares of ServiceNow stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $438.75, for a total transaction of $1,238,152.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,922 shares of company stock valued at $14,410,327. Company insiders own 0.28% of the company’s stock.
Institutional Trading Services Today
Several hedge funds have recently bought and sold shares of the company. Hanson & Doremus Investment Management lifted its position in ServiceNow by 13.7% in the 3rd quarter. Hanson & Doremus Investment Management now owns 960 shares of the information technology services provider’s stock worth $363,000 after buying an additional 116 shares in the last quarter. Xcel Wealth Management LLC lifted its position in ServiceNow by 202.0% in the 3rd quarter. Xcel Wealth Management LLC now owns 3,020 shares of the information technology services provider’s stock valued at $1,140,000 after buying an additional 2,020 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of ServiceNow by 20.1% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 1,550 shares of the information technology services provider’s stock valued at $585,000 after buying an additional 259 shares in the last quarter. Raised by Lynch Asset Management Inc. its position in shares of ServiceNow by 12.2% during the 3rd quarter. Lynch Asset Management Inc. now owns 5,975 shares of the information technology services provider’s stock valued at $2,257,000 after buying an additional 650 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. raised. its position in shares of ServiceNow by 6.3% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 2,766 shares of the information technology services provider’s stock valued at $1,045,000 after buying an additional 163 shares during the last quarter. 87.49% of the stock is currently owned by 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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