ServiceNow (NYSE:NOW – Get Rating) its price target was cut by BMO Capital Markets from $497.00 to $430.00 in a report published on Monday, The Fly reports.
Several other equities research analysts also recently weighed in on NOW. Wells Fargo & Company reduced their price target on shares of ServiceNow from $600.00 to $550.00 and set an overweight rating on the stock in a research note on Monday, July 25th. Truist Financial cut their price target on shares of ServiceNow from $600.00 to $550.00 and set a buy rating on the stock in a report on Thursday, July 28th. Morgan Stanley cut their price target on shares of ServiceNow from $556.00 to $540.00 and set an overweight rating on the stock in a report on Wednesday, October 19th. StockNews.com started coverage on shares of ServiceNow in a report on Wednesday, October 12th. They issued a hold rating on the stock. Finally, Piper Sandler cut their price target on shares of ServiceNow from $600.00 to $550.00 and set an overweight rating on the stock in a report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $569.09.
ServiceNow Trading Up 1.6 %
Shares of NOW opened at $366.56 on Monday. ServiceNow has a twelve month low of $337.00 and a twelve month high of $707.60. The company has a market cap of $74.05 billion, a P/E ratio of 402.81, a P/E/G ratio of 7.35 and a beta of 0.98. 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 company’s fifty-day simple moving average is $416.11 and its 200-day simple moving average is $450.64.
ServiceNow (NYSE:NOW – Get Rating) last announced its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share for the quarter, beating 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 business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. In the same quarter last year, the company posted $0.38 earnings per share. Business revenue for the quarter was up 24.3% on a year-over-year basis. As a group, analysts expect that ServiceNow will post 1.72 EPS for the current year.
ServiceNow Insider Activity
In related 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 value of $1,871,444.20. Following the completion of the transaction, the chief financial officer now directly owns 4,262 shares of the company’s stock, valued at approximately $1,871,444.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow 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 transaction of $1,871,444.20. Following the completion of the transaction, the chief financial officer now directly owns 4,262 shares of the company’s stock, valued at approximately $1,871,444.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible through this link. Also, insider Nicholas Tzitzon sold 2,822 shares of the firm’s stock in a transaction that occurred on 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 32,922 shares of company stock valued at $14,410,327 over the last three months. 0.28% of the stock is owned by insiders.
Hedge Fund Weighs In On Service Now
A number of institutional investors have recently bought and sold shares of the business. OLD Second National Bank of Aurora acquired a new stake in shares of ServiceNow during the 1st quarter valued at approximately $28,000. High Net Worth Advisory Group LLC acquired a new stake in shares of ServiceNow during the 1st quarter valued at approximately $29,000. Tortoise Investment Management LLC boosted its stake 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. San Luis Wealth Advisors LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at approximately $49,000. Finally, GoalVest Advisory LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at approximately $43,000. 87.49% of the stock is 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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