ServiceNow (NYSE:NOW – Get Rating) the price objective was cut by BMO Capital Markets from $497.00 to $430.00 in a research report issued on Monday morning, The Fly reports.
A number of other brokerages have also recently issued reports on NOW. Truist Financial dropped their price target on ServiceNow from $600.00 to $550.00 and set a buy rating for the company in a report on Thursday, July 28th. Cowen reduced their price objective on ServiceNow from $580.00 to $510.00 and set an outperform rating for the company in a research note on Wednesday, October 19th. Citigroup reduced their price objective on ServiceNow from $575.00 to $488.00 and set a buy rating for the company in a research note on Wednesday, October 19th. JPMorgan Chase & Co. started coverage on ServiceNow in a research note on Tuesday, October 11th. They issued an overweight rating and a $460.00 price objective for the company. Finally, Moffett Nathanson started coverage on ServiceNow in a research note on Thursday, September 22nd. They issued a hold rating and a $553.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of Moderate Buy and an average target price of $569.09.
ServiceNow Stock Performance
Shares of NOW opened at $366.56 on Monday. The stock has a 50 day moving average price of $416.11 and a 200 day moving average price of $450.64. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $74.05 billion, a price-to-earnings ratio of 402.81, a price-to-earnings-growth ratio of 7.35 and a beta of 0.98. ServiceNow has a 52-week low of $337.00 and a 52-week high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last announced its quarterly earnings results 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. The firm had revenue of $1.75 billion in the quarter, compared to the consensus estimate of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. research analysts forecast that ServiceNow will post 1.72 EPS for the current fiscal year.
Insiders Place Their Bets
In other ServiceNow news, insider Nicholas Tzitzon sold 2,822 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $438.75, for a total value of $1,238,152.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC’s website. In other ServiceNow news, insider Nicholas Tzitzon sold 2,822 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $438.75, for a total value of $1,238,152.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC’s website. Also, Director Lawrence Jackson sold 707 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $446.40, for a total value of $315,604.80. Following the completion of the sale, the director now directly owns 660 shares in the company, valued at approximately $294,624. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,922 shares of company stock valued at $14,410,327. 0.28% of the stock is owned by corporate insiders.
Institutional Trading Services Today
Several large investors have recently bought and sold shares of the company. CMH Wealth Management LLC boosted its holdings in ServiceNow by 5.0% in the third quarter. CMH Wealth Management LLC now owns 7,551 shares of the information technology services provider’s stock valued at $2,851,000 after buying an additional 360 shares in the last quarter. High Net Worth Advisory Group LLC acquired a new stake in shares of ServiceNow during the third quarter valued at $38,000. Canal Capital Management LLC boosted its stake in shares of ServiceNow by 19.7% in the third quarter. Canal Capital Management LLC now owns 3,794 shares of the information technology services provider’s stock valued at $1,433,000 after acquiring an additional 625 shares during the last quarter. Mizuho Markets Cayman LP boosted its stake in shares of ServiceNow by 6.3% during the third quarter. Mizuho Markets Cayman LP now owns 14,460 shares of the information technology services provider’s stock valued at $5,460,000 after acquiring an additional 854 shares during the last quarter. Finally, Dfpg Investments LLC acquired a new stake in shares of ServiceNow during the third quarter valued at $217,000. Institutional investors and hedge funds own 87.49% of the company’s stock.
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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