ServiceNow, Inc. (NYSE:NOW - Get Free Report) shares were up 1.2% on Friday . The company traded as high as $912.86 and last traded at $909.62. Approximately 372,764 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 1,706,051 shares. The stock had previously closed at $898.56.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on NOW shares. Wall Street Zen cut shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Erste Group Bank reiterated a "hold" rating on shares of ServiceNow in a research note on Wednesday, July 23rd. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a research report on Monday, August 4th. Oppenheimer reissued an "outperform" rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Finally, UBS Group lowered their price target on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.
Check Out Our Latest Stock Analysis on ServiceNow
ServiceNow Trading Down 0.5%
The firm's 50 day moving average is $933.46 and its 200 day moving average is $922.29. The company has a market cap of $194.37 billion, a PE ratio of 117.69, a PEG ratio of 4.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.
ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. ServiceNow's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.13 earnings per share. On average, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.
Insiders Place Their Bets
In other news, CEO William R. Mcdermott sold 5,825 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer owned 6,614 shares of the company's stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gina Mastantuono sold 1,762 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the sale, the chief financial officer directly owned 12,228 shares of the company's stock, valued at $10,594,950.60. This trade represents a 12.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,976 shares of company stock worth $17,049,775. 0.38% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On ServiceNow
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new stake in ServiceNow during the 1st quarter valued at $382,000. Corient IA LLC bought a new stake in ServiceNow during the 1st quarter valued at $796,000. Parr Mcknight Wealth Management Group LLC bought a new stake in ServiceNow during the 1st quarter valued at $1,820,000. ASR Vermogensbeheer N.V. bought a new stake in ServiceNow during the 1st quarter valued at $19,278,000. Finally, Goldman Sachs Group Inc. raised its holdings in ServiceNow by 131.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock valued at $1,178,706,000 after buying an additional 840,731 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.
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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