Investment analysts at Moffett Nathanson have assumed coverage on shares of ServiceNow (NYSE:NOW – Get Rating) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set a “hold” rating and a $553.00 price target on the information technology services provider’s stock. Moffett Nathanson’s price target would suggest a potential upside of 46.67% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the company. KeyCorp dropped their price target on ServiceNow from $567.00 to $520.00 and set an “overweight” rating for the company in a report on Thursday, July 28th. Citigroup dropped their price target on ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Stifel Nicolaus dropped their target price on ServiceNow from $650.00 to $550.00 in a report on Wednesday, May 25th. Wells Fargo & Company dropped their price target on ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Finally, JMP Securities dropped their price target on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating for the company in a report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $593.29.
ServiceNow Price Performance
NOW opened at $377.04 on Thursday. 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 12 month low of $374.36 and a 12 month high of $707.60. The company has a fifty day simple moving average of $453.76 and a 200 day simple moving average of $478.33. The stock has a market cap of $76.16 billion, a P/E ratio of 414.33, a P/E/G ratio of 8.17 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Rating) last released its quarterly earnings data on Wednesday, July 27. The information technology services provider reported $0.20 EPS for the quarter, beating the consensus estimates of analysts $0.12 of $0.08. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The business 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 earned $0.38 EPS. The company’s quarterly revenue was up 24.3% on a year-over-year basis. On average, research analysts anticipate that ServiceNow will post 1.72 EPS for the current year.
Insiders Place Their Bets
In other ServiceNow news, insider Paul John Smith sold 130 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $502.81, for a total transaction of $65,365.30. Following the completion of the sale, the insider now directly owns 2,157 shares in the company, valued at $1,084,561.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $497.01, for a total transaction of $3,280,266.00. Following the completion of the sale, the director now directly owns 33,600 shares in the company, valued at $16,699,536. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. Also, insider Paul John Smith sold 130 shares of ServiceNow stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $502.81, for a total transaction of $65,365.30. Following the completion of the sale, the insider now owns 2,157 shares of the company’s stock, valued at $1,084,561.17. The disclosure for this sale can be found here. Insiders sold 32,922 shares of company stock valued at $15,146,557 over the last three months. Insiders own 0.28% of the company’s stock.
Institutional Investors Weigh In On The Service Now
Hedge funds and other institutional investors have recently made changes to their business positions. Chilton Capital Management LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $25,000. OLD Second National Bank of Aurora acquired a new stake in shares of ServiceNow in the first quarter valued at about $28,000. Tortoise Investment Management LLC raised its position 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 acquired a new stake in shares of ServiceNow in the first quarter valued at approximately $29,000. Finally, Delos Wealth Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $40,000. 87.49% of the stock is currently owned by institutional investors and hedge funds.
ServiceNow Company Profile
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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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