ServiceNow (NYSE:NOW - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Oppenheimer in a research note issued on Thursday,Benzinga reports. They presently have a $1,150.00 price objective on the information technology services provider's stock, up from their prior price objective of $1,100.00. Oppenheimer's price target would indicate a potential upside of 18.80% from the stock's previous close.
Other equities analysts have also issued reports about the company. JMP Securities reissued a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Tuesday. Bank of America increased their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group reduced their price objective on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Thursday. Royal Bank Of Canada raised their target price on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley restated an "equal weight" rating on shares of ServiceNow in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average price target of $1,114.87.
View Our Latest Stock Report on NOW
ServiceNow Price Performance
Shares of NOW traded down $28.13 during midday trading on Thursday, hitting $968.05. The company's stock had a trading volume of 1,998,443 shares, compared to its average volume of 1,429,436. The stock has a market capitalization of $200.37 billion, a price-to-earnings ratio of 121.92, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. ServiceNow has a one year low of $678.66 and a one year high of $1,198.09. The company has a quick ratio of 1.12, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company's fifty day simple moving average is $1,000.33 and its two-hundred day simple moving average is $952.52.
ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the business earned $3.13 EPS. The business's quarterly revenue was up 22.4% compared to the same quarter last year. As a group, equities analysts expect that ServiceNow will post 8.93 earnings per share for the current fiscal year.
Insider Transactions at ServiceNow
In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the transaction, the insider owned 3,000 shares in the company, valued at $3,060,000. The trade was a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anita M. Sands sold 428 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the transaction, the director owned 10,891 shares of the company's stock, valued at $11,039,226.51. This trade represents a 3.78% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,003 shares of company stock valued at $6,015,106. 0.38% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On ServiceNow
Large investors have recently bought and sold shares of the company. Haverford Trust Co grew its stake in ServiceNow by 0.9% in the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock valued at $936,000 after acquiring an additional 10 shares during the last quarter. Ascent Group LLC raised its holdings in ServiceNow by 0.5% in the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock valued at $1,628,000 after buying an additional 10 shares during the period. Edgemoor Investment Advisors Inc. raised its holdings in ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after buying an additional 11 shares during the period. Integrated Investment Consultants LLC raised its stake in shares of ServiceNow by 2.5% during the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after purchasing an additional 11 shares during the period. Finally, one8zero8 LLC raised its stake in shares of ServiceNow by 3.2% during the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock valued at $283,000 after purchasing an additional 11 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.
ServiceNow Company Profile
(
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ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.
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