ServiceNow (NYSE:NOW – Get Rating) The price objective was cut by Mizuho from $500.00 to $480.00 in a research note issued to investors on Monday morning, The Fly reports. They currently have a buy rating on the information technology services provider’s stock.
A number of other equities research analysts have also recently issued reports on the stock. Citigroup cut their price objective 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. Canaccord Genuity Group dropped their price target on shares of ServiceNow from $615.00 to $510.00 and set a buy rating for the company in a report on Thursday, July 28th. StockNews.com began coverage on shares of ServiceNow in a report on Wednesday, October 12th. They issued a hold rating for the company. JMP Securities dropped their price target on shares of ServiceNow from $705.00 to $553.00 and set a market outperform rating for the company in a report on Thursday, July 28th. Finally, Morgan Stanley lowered their price target on shares of ServiceNow from $594.00 to $575.00 and set an overweight rating for the company in a report on Thursday, July 14th. Two investment 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 stock. Based on data from MarketBeat, ServiceNow currently has an average rating of Moderate Buy and a consensus price target of $583.50.
ServiceNow Price Performance
Shares of NOW opened at $348.61 on Monday. The company has a market cap of $70.42 billion, a PE ratio of 383.09, a P/E/G ratio of 6.97 and a beta of 0.98. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $430.47 and a two hundred day simple moving average of $457.25. ServiceNow has a 1-year low of $337.00 and a 1-year high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (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 firm had revenue of $1.75 billion in the quarter, compared to the consensus estimate of $1.76 billion. In the same quarter last year, the company posted $0.38 EPS. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. On average, equities analysts anticipate that ServiceNow will post 1.72 EPS for the current year.
Insider Buying and Selling
In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $465.86, for a total value of $3,074,676.00. Following the transaction, the director now directly owns 33,000 shares in the company, valued at approximately $15,373,380. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available through this hyperlink. In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $465.86, for a total value of $3,074,676.00. Following the transaction, the director now directly owns 33,000 shares in the company, valued at approximately $15,373,380. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available through this hyperlink. Also, insider Nicholas Tzitzon sold 2,822 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was 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. Insiders have sold 32,922 shares of company stock valued at $14,410,327 over the last ninety days. 0.28% of the stock is owned by company insiders.
Hedge Fund Weighs In On Service Now
Hedge funds and other institutional investors have recently modified their holdings of the business. OLD Second National Bank of Aurora purchased a new position in shares of ServiceNow during the first quarter valued at approximately $28,000. Tortoise Investment Management LLC boosted its stake in shares of ServiceNow by 55.0% in the second quarter. Tortoise Investment Management LLC now owns 62 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 22 shares in the last quarter. High Net Worth Advisory Group LLC purchased a new position in shares of ServiceNow during the first quarter valued at approximately $29,000. GoalVest Advisory LLC acquired a new stake in ServiceNow in the first quarter valued at approximately $43,000. Finally, Core Alternative Capital grew its stake in ServiceNow by 310.5% in the first quarter. Core Alternative Capital now owns 78 shares of the information technology services provider’s stock valued at $43,000 after acquiring an additional 59 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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