ServiceNow (NYSE:NOW - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Monday.
Other research analysts have also recently issued research reports about the company. Canaccord Genuity Group decreased their target price on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group reduced their price objective on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and boosted their target price for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. Bank of America raised their target price on shares of ServiceNow from $1,085.00 to $1,110.00 and gave the stock a "buy" rating in a report on Friday. Finally, FBN Securities upgraded shares of ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,075.87.
Get Our Latest Analysis on ServiceNow
ServiceNow Stock Performance
Shares of NOW opened at $963.43 on Monday. The firm has a fifty day moving average of $1,006.53 and a 200-day moving average of $955.01. The company has a market cap of $199.41 billion, a price-to-earnings ratio of 130.90, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow has a 1 year low of $678.66 and a 1 year high of $1,198.09.
ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the firm posted $3.41 earnings per share. The business's revenue was up 18.6% on a year-over-year basis. As a group, equities analysts anticipate that ServiceNow will post 8.93 earnings per share for the current year.
Insider Transactions at ServiceNow
In related news, Director Deborah Black sold 598 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $940.23, for a total transaction of $562,257.54. Following the completion of the sale, the director directly owned 428 shares of the company's stock, valued at approximately $402,418.44. This represents a 58.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the transaction, the chief executive officer owned 6,614 shares of the company's stock, valued at $6,693,434.14. This trade represents a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,601 shares of company stock valued at $6,577,363. Corporate insiders own 0.38% of the company's stock.
Hedge Funds Weigh In On ServiceNow
A number of large investors have recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after purchasing an additional 30 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in ServiceNow by 45.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 415 shares of the information technology services provider's stock worth $440,000 after buying an additional 130 shares during the last quarter. Congress Wealth Management LLC DE raised its position in ServiceNow by 1.5% during the fourth quarter. Congress Wealth Management LLC DE now owns 27,420 shares of the information technology services provider's stock worth $29,070,000 after acquiring an additional 417 shares in the last quarter. Sheets Smith Investment Management bought a new stake in ServiceNow during the fourth quarter worth $1,138,000. Finally, Interchange Capital Partners LLC lifted its stake in ServiceNow by 5.2% in the fourth quarter. Interchange Capital Partners LLC now owns 845 shares of the information technology services provider's stock valued at $896,000 after acquiring an additional 42 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.
About ServiceNow
(
Get Free Report)
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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