ServiceNow (NYSE:NOW – Get Rating) had its price target lowered by stock analysts at Wolfe Research from $600.00 to $475.00 in a research note issued on Thursday, MarketBeat.com reports. The firm currently has an “outperform” rating on the information technology services provider’s stock. Wolfe Research’s price target would suggest a potential upside of 12.99% from the company’s current price.
A number of other equities analysts recently commented on the stock. Canaccord Genuity Group dropped their price target on shares of ServiceNow from $615.00 to $510.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Piper Sandler dropped their price target on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Guggenheim raised shares of ServiceNow from a “neutral” rating to a “buy” rating in a research report on Monday, October 24th. Sanford C. Bernstein began coverage on shares of ServiceNow in a research report on Tuesday, July 19th. They set an “outperform” rating and a $646.00 price objective for the company. Finally, Citigroup boosted their price objective on shares of ServiceNow from $488.00 to $515.00 in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $555.61.
ServiceNow Stock Performance
NYSE:NOW opened at $420.40 on Thursday. The company has a fifty day simple moving average of $408.66 and a two hundred day simple moving average of $448.22. The company has a market cap of $84.92 billion, a price-to-earnings ratio of 424.65, a price-to-earnings-growth ratio of 7.74 and a beta of 0.98. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. ServiceNow has a 52 week low of $337.00 and a 52 week high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. The business had revenue of $1.75 billion in the quarter, compared to the consensus estimate of $1.76 billion. ServiceNow has a net margin of 2.79% and a return on equity of 7.22%. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. In the same quarter last year, the company posted $0.38 earnings per share. As a group, equities analysts expect that ServiceNow will post 1.71 earnings per share for the current fiscal year.
Internal Activity
In other news, Director Jonathan Chadwick sold 1,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $450.58, for a total value of $450,580.00. Following the completion of the sale, the director now directly owns 6,340 shares of the company’s stock, valued at $2,856,677.20. The sale was disclosed in a filing with the Securities & Exchange Commission, available through this link. In other news, Director Frederic B. Luddy sold 6,600 shares of the business’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $385.46, for a total transaction of $2,544,036.00. Following the transaction, the director now directly owns 31,800 shares in the company, valued at $12,257,628. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 1,000 shares of the business’s stock in a transaction dated Monday, August 1. The stock was sold at an average price of $450.58, for a total transaction of $450,580.00. Following the transaction, the director now owns 6,340 shares in the company, valued at $2,856,677.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,393 shares of company stock valued at $12,856,570. Insiders own 0.28% of the company’s stock.
Institutional Entry and Exit
Institutional investors and hedge funds have recently made changes to their positions in the company. OLD Second National Bank of Aurora acquired a new position in shares of ServiceNow during the first quarter valued at approximately $28,000. Tortoise Investment Management LLC grew its position in ServiceNow by 55.0% during the second 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 acquired a new position in ServiceNow during the first quarter valued at approximately $29,000. Vigilant Capital Management LLC grew its position in ServiceNow by 300.0% during the third quarter. Vigilant Capital Management LLC now owns 96 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 72 shares during the period. Finally, GoalVest Advisory LLC acquired a new position in ServiceNow in the first quarter valued at approximately $43,000. 87.49% of the stock is currently 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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