ServiceNow (NYSE:NOW – Get Rating) Citigroup cut their target price from $575.00 to $488.00 in a research report report published on Wednesday, The Fly reports. They currently have a buy rating on the information technology services provider’s stock.
NOW has been the subject of several other research reports. Truist Financial dropped their price objective on shares of ServiceNow from $600.00 to $550.00 and set a buy rating for the company in a research report on Thursday, July 28th. Royal Bank of Canada dropped their price objective on shares of ServiceNow from $550.00 to $500.00 and set an outperform rating for the company in a research report on Monday, October 17th. JPMorgan Chase & Co. started coverage on shares of ServiceNow in a research report on Tuesday, October 11th. They set an overweight rating and a $460.00 target price for the company. Moffett Nathanson initiated coverage on shares of ServiceNow in a research report on Thursday, September 22nd. They set a hold rating and a $553.00 target price for the company. Finally, 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 research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $571.91.
ServiceNow Stock Performance
NYSE:NOW opened at $360.67 on Wednesday. ServiceNow has a 1 year low of $337.00 and a 1 year high of $707.60. The firm has a 50-day moving average of $418.86 and a 200-day moving average of $452.32. 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 stock has a market capitalization of $72.86 billion, a P/E ratio of 396.34, a price-to-earnings-growth ratio of 7.25 and a beta of 0.98.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate 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 EPS. ServiceNow’s revenue increased 24.3% on a year-over-year basis. As a group, sell-side analysts expect that ServiceNow will post 1.72 EPS for the current fiscal year.
ServiceNow Insider Transactions
In other news, insider Nicholas Tzitzon sold 2,822 shares of the stock in a transaction dated Friday, July 29. The shares were sold at an average price of $438.75, for a total transaction of $1,238,152.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, available through this link. In other news, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 31,800 shares in the company, valued at approximately $12,257,628. The transaction was disclosed in a document filed with the SEC, available at this link. Also, insider Nicholas Tzitzon sold 2,822 shares of the 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 a total of 32,922 shares of company stock valued at $14,410,327 in the last three months. Insiders own 0.28% of the company’s stock.
Hedge Fund Weighs In On Service Now
Large investors have recently modified their holdings in the business. Hancock Whitney Corp lifted its holdings in shares of ServiceNow by 3.3% in the 1st quarter. Hancock Whitney Corp now owns 1,977 shares of the information technology services provider’s stock valued at $1,101,000 after buying an additional 64 shares during the period. Prospera Financial Services Inc purchased a new stake in shares of ServiceNow in the 1st quarter valued at approximately $996,000. Brookstone Capital Management lifted its holdings in shares of ServiceNow by 5.1% in the 2nd quarter. Brookstone Capital Management now owns 1,690 shares of the information technology services provider’s stock valued at $835,000 after purchasing an additional 82 shares during the period. Allworth Financial LP lifted its holdings in shares of ServiceNow by 50.2% in the 2nd quarter. Allworth Financial LP now owns 422 shares of the information technology services provider’s stock valued at $201,000 after purchasing an additional 141 shares during the period. Finally, Exane Derivatives raised its holdings in shares of ServiceNow by 7.0% in the 1st quarter. Exane Derivatives now owns 1,447 shares of the information technology services provider’s stock valued at $806,000 after purchasing an additional 95 shares during the period. 87.49% of the stock is currently owned by institutional investors and hedge funds.
ServiceNow Company Profile
(Get Rating)
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.
Read more
Receive News and Ratings for ServiceNow Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for ServiceNow and related companies with our FREE daily email newsletter of MarketBeat.com.