ServiceNow (NYSE:NOW – Get Rating) had its price objective dropped by investment analysts at Wells Fargo & Company from $600.00 to $550.00 in a research report issued on Monday, The Fly reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. Wells Fargo & Company’s target price would indicate a potential upside of 30.08% from the stock’s previous close.
NOW has been the subject of several other reports. Citigroup dropped their price objective on shares of ServiceNow from $656.00 to $600.00 in a research note on Thursday, July 21st. Deutsche Bank Aktiengesellschaft decreased their price objective on ServiceNow from $700.00 to $680.00 in a report on Thursday, April 28th. Stifel Nicolaus decreased their price objective on ServiceNow from $650.00 to $550.00 in a report on Wednesday, May 25th. Mizuho reduced their price objective on ServiceNow from $550.00 to $520.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. Finally, Jefferies Financial Group reduced their price target on shares of ServiceNow from $700.00 to $550.00 in a report on Monday, May 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $623.19.
ServiceNow Stock Performance
Shares of NOW stock opened at $422.82 on Monday. ServiceNow has a one year low of $406.47 and a one year high of $707.60. The company’s 50-day moving average is $462.42 and its 200-day moving average is $508.17. The company has a market capitalization of $84.76 billion, a price-to-earnings ratio of 384.38, a price-to-earnings-growth ratio of 9.08 and a beta of 1.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.12.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The information technology services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.13. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The company’s revenue increased by 26.6% compared to the same quarter last year. In the same quarter last year, the company posted $0.50 earnings per share. sell-side analysts anticipate that ServiceNow will post 1.71 EPS for the current fiscal year.
ServiceNow Insider Transactions
In other news, insider Paul John Smith sold 412 shares of the company’s stock in a transaction that occurred on Wednesday, May 18th. The stock was traded at an average price of $427.17, for a total transaction of $175,994.04. Following the completion of the transaction, the insider now directly owns 1,755 shares of the company’s stock, valued at approximately $749,683.35. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Paul John Smith sold 412 shares of the stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $427.17, for a total value of $175,994.04. Following the completion of the transaction, the insider now directly owns 1,755 shares of the company’s stock, valued at approximately $749,683.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Bedi sold 495 shares of the stock in a transaction on Friday, April 29th. The shares were sold at an average price of $489.18, for a total value of $242,144.10. Following the completion of the transaction, the insider now directly owns 12,977 shares of the company’s stock, valued at $6,348,088.86. The disclosure for this sale can be found here. Insiders sold a total of 17,577 shares of company stock valued at $8,503,327 in the last three months. 0.28% of the stock is currently owned by company insiders.
Institutional Trading Services Today
A number of hedge funds and other institutional investors have recently modified their holdings of NOW. First Merchants Corp increased its stake in shares of ServiceNow by 297.7% in the 4th quarter. First Merchants Corp now owns 1,392 shares of the information technology services provider’s stock valued at $904,000 after acquiring an additional 1,042 shares during the last quarter. NN Investment Partners Holdings NV raised its stake in shares of ServiceNow by 2.4% in the 4th quarter. NN Investment Partners Holdings NV now owns 40,984 shares of the information technology services provider’s stock valued at $26,602,000 after acquiring an additional 963 shares during the last quarter. Regentatlantic Capital LLC raised its stake in shares of ServiceNow by 17.2% in the 4th quarter. Regentatlantic Capital LLC now owns 8,627 shares of the information technology services provider’s stock valued at $5,600,000 after acquiring an additional 1,268 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of ServiceNow by 9.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 31,457 shares of the information technology services provider’s stock valued at $20,419,000 after acquiring an additional 2,807 shares during the last quarter. Finally, Livingston Group Asset Management CO doing business as Southport Capital Management lifted its stake in shares of ServiceNow by 1,870.3% in the 4th quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 9,142 shares of the information technology services provider’s stock valued at $5,934,000 after acquiring an additional 8,678 shares during the last quarter. 87.20% of the stock is 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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