ServiceNow (NYSE:NOW) had its price objective hoisted by Stifel Nicolaus from $500.00 to $550.00 in a research report report published on Monday, The Fly reports. The brokerage currently has a buy rating on the information technology services provider’s stock.
A number of other equities analysts have also commented on NOW. Edward Jones started coverage on shares of ServiceNow in a report on Wednesday, October 21st. They issued a buy rating on the stock. BMO Capital Markets increased their price target on shares of ServiceNow from $475.00 to $562.00 and gave the stock an outperform rating in a report on Thursday, October 15th. Mizuho increased their price target on shares of ServiceNow from $500.00 to $560.00 and gave the stock a buy rating in a report on Thursday, October 15th. Jefferies Financial Group increased their target price on shares of ServiceNow from $465.00 to $515.00 and gave the company a buy rating in a report on Thursday, July 30th. Finally, Zacks Investment Research lowered shares of ServiceNow from a strong-buy rating to a hold rating and set a $465.00 target price on the stock. in a report on Wednesday, July 1st. Seven research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $501.93.
ServiceNow stock opened at $510.59 on Monday. The firm’s 50 day simple moving average is $488.22 and its 200 day simple moving average is $421.05. The firm has a market capitalization of $97.93 billion, a PE ratio of 138.75, a price-to-earnings-growth ratio of 18.52 and a beta of 1.27. ServiceNow has a 1-year low of $238.29 and a 1-year high of $533.37. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.18. ServiceNow had a net margin of 18.42% and a return on equity of 11.09%. Research analysts forecast that ServiceNow will post 0.99 earnings per share for the current year.
In other news, insider Chirantan Jitendra Desai sold 1,559 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $430.44, for a total value of $671,055.96. Following the completion of the sale, the insider now directly owns 994 shares of the company’s stock, valued at approximately $427,857.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Kevin Haverty sold 6,601 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $440.43, for a total transaction of $2,907,278.43. Following the completion of the sale, the executive now directly owns 16,337 shares of the company’s stock, valued at $7,195,304.91. The disclosure for this sale can be found here. Insiders have sold a total of 102,787 shares of company stock valued at $48,034,144 in the last three months. 1.00% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Hodges Capital Management Inc. purchased a new stake in shares of ServiceNow in the 2nd quarter worth about $763,000. Newfound Research LLC purchased a new position in ServiceNow during the 3rd quarter valued at about $38,000. Hall Laurie J Trustee purchased a new position in ServiceNow during the 3rd quarter valued at about $39,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in ServiceNow by 43.9% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 82 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 25 shares during the period. Finally, Duncker Streett & Co. Inc. purchased a new position in ServiceNow during the 2nd quarter valued at about $41,000. 90.05% of the stock is owned by hedge funds and other institutional investors.
ServiceNow Company Profile
ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company offers information technology (IT) service management applications; and digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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