Shares of ServiceNow Inc (NYSE:NOW) have earned an average recommendation of “Buy” from the thirty-three analysts that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, twenty-five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $292.31.
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Several research firms recently weighed in on NOW. Deutsche Bank dropped their price target on ServiceNow from $305.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Raymond James dropped their price target on ServiceNow from $342.00 to $300.00 and set a “strong-buy” rating on the stock in a research report on Thursday, October 24th. BMO Capital Markets dropped their price target on ServiceNow from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird upped their price target on ServiceNow from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Needham & Company LLC upped their price target on ServiceNow from $276.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call.
Shares of ServiceNow stock traded up $7.50 on Monday, reaching $267.46. 102,239 shares of the company were exchanged, compared to its average volume of 3,469,479. The stock has a fifty day moving average price of $251.68 and a 200-day moving average price of $267.09. The firm has a market capitalization of $47.60 billion, a price-to-earnings ratio of 1,335.38, a price-to-earnings-growth ratio of 18.78 and a beta of 1.28. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.75. ServiceNow has a fifty-two week low of $147.63 and a fifty-two week high of $303.17.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.81. The firm had revenue of $885.80 million for the quarter, compared to analyst estimates of $885.53 million. ServiceNow had a return on equity of 6.62% and a net margin of 1.09%. ServiceNow’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. On average, equities analysts anticipate that ServiceNow will post 0.48 earnings per share for the current fiscal year.
In other news, insider Chirantan Jitendra Desai sold 152 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $250.93, for a total value of $38,141.36. Following the completion of the transaction, the insider now directly owns 36,706 shares of the company’s stock, valued at approximately $9,210,636.58. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederic B. Luddy sold 22,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $248.68, for a total value of $5,470,960.00. The disclosure for this sale can be found here. Insiders sold a total of 55,857 shares of company stock valued at $14,427,574 in the last quarter. Corporate insiders own 1.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. WINTON GROUP Ltd raised its stake in shares of ServiceNow by 21.5% in the 2nd quarter. WINTON GROUP Ltd now owns 1,969 shares of the information technology services provider’s stock valued at $541,000 after purchasing an additional 349 shares during the period. First American Trust FSB increased its holdings in ServiceNow by 1.2% in the second quarter. First American Trust FSB now owns 11,349 shares of the information technology services provider’s stock valued at $3,116,000 after purchasing an additional 131 shares during the period. Douglass Winthrop Advisors LLC acquired a new stake in ServiceNow in the second quarter valued at $206,000. Zweig DiMenna Associates LLC acquired a new stake in ServiceNow in the second quarter valued at $16,899,000. Finally, Dubuque Bank & Trust Co. acquired a new stake in ServiceNow in the second quarter valued at $379,000. Hedge funds and other institutional investors own 91.19% of the company’s stock.
ServiceNow Company Profile
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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