Wells Fargo & Company began coverage on parts of ServiceNow (NYSE: NOW – Get a Rating) in a note issued to investors on Wednesday, Briefing.com reports. The brokerage set an “overweight” rating and a $ 600.00 price target on the information technology service provider’s stock. Wells Fargo & Company’s price target suggests a potential increase of 40.04% from the company’s current price.
Several other research analysts have also recently released reports on the company. Canaccord Genuity Group lowered their target price on ServiceNow from $ 715.00 to $ 615.00 and set a “buy” rating on the stock in a report on Thursday, January 27th. Cowen reduced their target price on ServiceNow shares from $ 725.00 to $ 695.00 in a research note on Thursday, April 28th. Deutsche Bank Aktiengesellschaft lowered their price target on ServiceNow from $ 700.00 to $ 680.00 in a research report on Thursday, April 28th. Citigroup raised their target price on ServiceNow shares from $ 623.00 to $ 656.00 in a report on Thursday, April 28th. Finally, Morgan Stanley cut their target price on ServiceNow from $ 810.00 to $ 745.00 in a report on Thursday, April 28th. Two research analysts rated the stock with a sell rating, three gave a hold rating and twenty-eight assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average “Buy” rating and an average price target of $ 662.72.
Shares of ServiceNow stock traded down $ 4.40 on Wednesday, reaching $ 428.45. The company’s 10,708 shares traded, compared to its average volume of 1,933,795. The stock’s 50-day average moving price is $ 512.02 and its 200-day average price is $ 573.57. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. ServiceNow has a 52 week low of $ 406.47 and a 52 week high of $ 707.60. The company has a market cap of $ 85.89 billion, a PE ratio of 386.31, a PEG ratio of 8.86 and a beta of 1.09.
ServiceNow (NYSE: NOW-Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The information technology service provider reported $ 1.73 EPS for the quarter, beating the consensus estimate of $ 1.70 by $ 0.03. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The company had revenue of $ 1.72 billion in the quarter, compared to analysts ’expectations of $ 1.70 billion. In the same quarter last year, the company posted $ 0.50 EPS. The company’s revenue rose 26.6% compared to the same quarter last year. As a group, research analysts expect ServiceNow to post 1.8 EPS for the current financial year.
In related news, Director Teresa Briggs sold 932 shares of the stock in a transaction on Friday, April 29th. The shares were sold at an average price of $ 490.26, for a total transaction of $ 456,922.32. Following the completion of the sale, the director now owns 707 shares in the company, valued at approximately $ 346,613.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $ 446.04, for a total transaction of $ 55,755.00. Following the sale, the insider now owns 1,446 shares of the company’s stock, valued at $ 644,973.84. The disclosure for this sale can be found here. In the past three months, insiders have sold 18,974 shares of the company’s stock worth $ 10,561,473. Corporate insiders own 0.35% of the company’s stock.
Large investors have recently changed their stock holdings. Chilton Capital Management LLC acquired a new stake in ServiceNow in the 4th quarter worth approximately $ 25,000. Eagle Bay Advisors LLC raised its holdings in ServiceNow shares by 75.0% in the third quarter. Eagle Bay Advisors LLC now owns 42 shares of the information technology services provider’s stock worth $ 27,000 after buying an additional 18 shares in the last quarter. OLD Second National Bank of Aurora acquired a new position in ServiceNow in the first quarter worth $ 28,000. High Net Worth Advisory Group LLC acquired a new position in shares of ServiceNow in the first quarter valued at $ 29,000. Finally, powered by MV Capital Management Inc. its position in ServiceNow shares of 96.2% in the third quarter. MV Capital Management Inc. now owns 51 shares of the information technology services provider’s stock worth $ 32,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 87.20% of the company’s stock.
About ServiceNow (Get a Rating)
ServiceNow, Inc. provides enterprise cloud computing solutions that define, develop, integrate, manage, and automate services for businesses around the world. It runs 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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