ServiceNow (NYSE:NOW – Get Rating) had its price target raised by equities researchers at Mizuho from $480.00 to $500.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Mizuho’s price target indicates a potential upside of 18.93% from the stock’s previous close.
NOW has been the subject of many other research reports. JMP Securities cut their price target on shares of ServiceNow from $705.00 to $553.00 and set a “market outperform” rating for the company in a research note on Thursday, July 28th. UBS Group cut their price target on shares of ServiceNow from $515.00 to $465.00 in a research note on Thursday, October 13th. JPMorgan Chase & Co. started coverage on shares of ServiceNow in a research note on Tuesday, October 11th. They set an “overweight” rating and a $460.00 price objective for the company. 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 note on Thursday, July 28th. Finally, StockNews.com started coverage on shares of ServiceNow in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $555.61.
ServiceNow Stock Up 1.1 %
NOW stock opened at $420.40 on Thursday. The stock has a market capitalization of $84.92 billion, a P/E ratio of 424.65, a P/E/G ratio of 7.74 and a beta of 0.98. The company has a 50-day simple moving average of $408.66 and a 200-day simple moving average of $448.22. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. ServiceNow has a 52 week low of $337.00 and a 52 week high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last released its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The business had revenue of $1.75 billion in the quarter, compared to analysts’ expectations of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company’s quarterly revenue was up 24.3% on a year-over-year basis. In the same quarter last year, the company earned $0.38 earnings per share. equities analysts predict that ServiceNow will post 1.71 earnings per share for the current fiscal year.
ServiceNow Insider Transactions
In other news, CFO Gina Mastantuono sold 4,262 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $439.10, for a total value of $1,871,444.20. Following the transaction, the chief financial officer now directly owns 4,262 shares in the company, valued at approximately $1,871,444.20. The sale was disclosed in a document filed with the SEC, which is accessible via this hyperlink. In other ServiceNow news, CFO Gina Mastantuono sold 4,262 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $439.10, for a total transaction of $1,871,444.20. Following the sale, the chief financial officer now directly owns 4,262 shares in the company, valued at approximately $1,871,444.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jonathan Chadwick sold 1,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $450.58, for a total transaction of $450,580.00. Following the sale, the director now owns 6,340 shares in the company, valued at $2,856,677.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,393 shares of company stock valued at $12,856,570. 0.28% of the stock is currently owned by insiders.
Institutional Investors Weigh In On The Service Now
Hedge funds have recently added to or reduced their stakes in the business. Financial Architects Inc increased its position in shares of ServiceNow by 5.9% in the 1st quarter. Financial Architects Inc now owns 378 shares of the information technology services provider’s stock valued at $211,000 after buying an additional 21 shares during the last quarter. Sugarloaf Wealth Management LLC increased its position in shares of ServiceNow by 23.4% in the 1st quarter. Sugarloaf Wealth Management LLC now owns 116 shares of the information technology services provider’s stock valued at $65,000 after buying an additional 22 shares in the last quarter. Tortoise Investment Management LLC increased its position in shares of ServiceNow by 55.0% in the 2nd 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. Institute for Wealth Management LLC. increased its position in shares of ServiceNow by 0.7% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,484 shares of the information technology services provider’s stock valued at $1,657,000 after buying an additional 23 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its position in shares of ServiceNow by 21.8% in the 2nd quarter. HHM Wealth Advisors LLC now owns 134 shares of the information technology services provider’s stock valued at $64,000 after buying an additional 24 shares in the last quarter. 87.49% of the stock is currently owned by institutional investors and hedge funds.
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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