ServiceNow, Inc. (NYSE:NOW) saw some unusual options trading activities on Thursday. Traders received 16,716 call options on stocks. This is an increase of approximately 90% compared to the typical trading volume of 8,797 call options.
Many stock analysts have put pressure on NOW stock. Credit Suisse Group raised its target price for ServiceNow stock from US$465.00 to US$560.00 and gave the stock an “outperform” rating in its research report on Friday, October 23. In a report on Thursday, Truist raised its price target for ServiceNow stock from $450.00 to $575.00. Royal Bank of Canada raised the target price of ServiceNow stock from US$510.00 to US$600.00 in its report on Tuesday, October 13, and gave the stock an “outperform” rating. Needham & Company LLC raised the target price for ServiceNow stock from $490.00 to $538.00 and gave the stock a “buy” rating in its report on Thursday. In the end, Canaccord Genuity raised the target price of ServiceNow stock from $475.00 to $550.00 and gave the stock a “buy” rating in its report on Thursday. Seven investment analysts gave the stock a hold rating, 23 gave it a buy rating, and one gave the company a strong buy rating. ServiceNow’s current average rating is “Buy” and the consensus target price is US$501.93.
New York Stock Exchange: The opening price is now $510.59. The stock has a market value of 97.93 billion US dollars, a P/E ratio of 138.75, a P/E ratio of 18.52, and a beta value of 1.27. The company’s 50-day simple moving average is $488.22, and its 200-day simple moving average is $421.05. ServiceNow’s twelve-month low is $238.29 and its twelve-month high is $533.37. The company’s quick ratio is 1.17, current ratio is 1.17, and debt-to-equity ratio is 0.28.
ServiceNow (NYSE: NOW) released its latest quarterly performance report on October 28 (Wednesday). The information technology service provider reported earnings per share of $1.21 for the quarter, which was $0.18 higher than the consensus estimate of $1.03. ServiceNow’s net profit margin was 18.42%, and the return on net assets was 11.09%. On average, analysts expect ServiceNow to release 0.99 EPS in this fiscal year.
In other ServiceNow news, director Frederic B. Luddy sold 28,600 shares in trading on Thursday, October 15. The average price of the stock is US$515.38 and the total trading price is US$14,739,868.00. After the transaction is completed, the directors now own 811 shares of the company, valued at US$417,973.18. The sale has been disclosed in a document from the US Securities and Exchange Commission (SEC), which is available on the SEC website. In addition, CRO Kevin Haverty sold 6,601 shares in trading on Thursday, August 20. The average price of the stock is US$440.43 and the total trading volume is US$2,907,278.43. After the transaction, the executive now owns 16,337 shares of the company’s stock, valued at approximately $7,195,304.91. The disclosure of this sale can be found here. In the past 90 days, insiders sold 102,787 shares of the company’s stock worth $48,034,144. Company insiders own 1.00% of the shares.
Recently, many large investors have increased or decreased their shares in stocks. Mint Tower Capital Management BV purchased a new position in ServiceNow stock in the second quarter, valued at approximately $119,153,000. Vanguard Group Inc. increased its position in ServiceNow by 1.1% in the second quarter. Vanguard Group Inc. now owns 15,633,958 shares of the information technology service provider, valued at $6,332,691,000, after the company purchased an additional 164,302 shares in the previous quarter. Jackson Square Partners LLC increased its position in ServiceNow by 0.9% in the second quarter. After purchasing an additional 13,628 shares in the last quarter, Jackson Square Partners LLC now owns 1,478,869 shares of information technology service providers, valued at US$599,030,000. Charles Schwab Investment Management Inc. increased its position in ServiceNow by 1.2% in the second quarter. Charles Schwab Investment Management Inc. (Charles Schwab Investment Management Inc.) now owns 899,207 shares of information technology service providers, valued at $364,233,000, and purchased another 10,722 shares in the previous quarter. Finally, Sumitomo Mitsui Trust & Holding Corporation increased its position in ServiceNow by 5.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. currently owns 865,852 shares of information technology service providers worth US$350,722,000 after the company bought an additional 42,101 shares in the previous quarter. Institutional investors and hedge funds own 90.05% of the company’s shares.
About ServiceNow
ServiceNow, Inc provides enterprise cloud computing solutions that define, organize, integrate, manage and automate services for global enterprises. The company provides information technology (IT) service management applications; and digital workflow products for customer service, human resources, security operations, integrated risk management, and other corporate departments.
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7 unimportant stocks
Many investors confuse the volatility of the election year with the market performance in the election year. Historically, investors did not care who won the election.
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Check out “7 stocks, don’t care who wins the election”.
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