ServiceNow, Inc. (NYSE:NOW – Get Rating) gapped up before the market opened on Monday . The stock previously closed at $360.67, but opened at $372.00. ServiceNow shares last traded at $366.69, with a volume of 6,782 shares.
Wall Street Analysts’ Growth Forecast
Several research firms have issued reports on NOW. Canaccord Genuity Group cut their price objective on ServiceNow from $615.00 to $510.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Wells Fargo & Company cut their price objective on ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. JMP Securities cut their price objective on ServiceNow from $705.00 to $553.00 and set a “market outperform” rating for the company in a research report on Thursday, July 28th. JPMorgan Chase & Co. started coverage on ServiceNow in a research report on Tuesday, October 11th. They issued an “overweight” rating and a $460.00 price objective for the company. Finally, Morgan Stanley cut their price objective on ServiceNow from $556.00 to $540.00 and set an “overweight” rating for the company in a research report on Wednesday, October 19th. Two research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $569.09.
ServiceNow Trading Up 2.8 %
The business has a 50-day simple moving average of $413.71 and a 200-day simple moving average of $449.66. 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 $76.09 billion, a price-to-earnings ratio of 413.91, a price-to-earnings-growth ratio of 7.35 and a beta of 0.98.
ServiceNow (NYSE:NOW – Get Rating ) last released its quarterly earnings data on Wednesday, July 27. The information technology services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate. $0.12 of $0.08. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company’s revenue increased by 24.3% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. On average, equities analysts predict that ServiceNow, Inc. will post 1.72 earnings per share for the current year.
Internal Activity
In other news, insider Nicholas Tzitzon sold 2,822 shares of ServiceNow stock in a transaction dated 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 available through this link. In other news, insider Nicholas Tzitzon sold 2,822 shares of ServiceNow stock in a transaction dated 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 available through this link. Also, insider Paul John Smith sold 130 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $502.81, for a total value of $65,365.30. Following the sale, the insider now owns 2,157 shares in the company, valued at $1,084,561.17. 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 three months. Corporate insiders own 0.28% of the company’s stock.
Institutional Investors Weigh In On The Service Now
A number of hedge funds have recently modified their holdings of NOW. OLD Second National Bank of Aurora purchased a new stake in shares of ServiceNow in the 1st quarter valued at about $28,000. Tortoise Investment Management LLC raised its holdings 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 purchasing an additional 22 shares during the period. High Net Worth Advisory Group LLC purchased a new stake in shares of ServiceNow in the 1st quarter valued at about $29,000. Vigilant Capital Management LLC increased its holdings in ServiceNow by 300.0% during the 3rd quarter. Vigilant Capital Management LLC now owns 96 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 72 shares in the last quarter. Finally, GoalVest Advisory LLC purchased a new stake in ServiceNow in the 1st quarter valued at approximately $43,000. 87.49% of the stock is currently owned by hedge funds and other institutional investors.
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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