ServiceNow, Inc. provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools. The company also provides information technology (IT) service management applications; IT service management product suite for enterprise's employees, customers, and partners; IT business management product suite; IT operations management product that connects a customer's physical and cloud-based IT infrastructure; IT Asset Management to automate IT asset lifecycles; and security operations that connects with internal and third party. In addition, it offers governance, risk, and compliance product to manage risk and resilience; human resources, legal, and workplace service delivery products; safe workplace applications; customer service management product; and field service management applications. Further, it provides App Engine product; IntegrationHub enables application to extend workflows; and professional, industry solutions, and customer support services. It serves government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products through direct sales team and resale partners. It has a strategic partnership with Celonis to help customers identify and prioritize processes that are suitable for automation. The company was formerly known as Service-now.com and changed its name to ServiceNow, Inc. in May 2012. The company was founded in 2004 and is headquartered in Santa Clara, California.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on NOW. Piper Sandler dropped their price objective on shares of ServiceNow from $600.00 to $550.00 and set an "overweight" rating on the stock in a report on Thursday, July 28th. Mizuho cut their price target on ServiceNow from $520.00 to $500.00 and set a "buy" rating on the stock in a report on Thursday, July 28th. Royal Bank of Canada reduced their price objective on ServiceNow from $670.00 to $610.00 in a research report on Monday, July 18th. Credit Suisse Group dropped their target price on ServiceNow from $700.00 to $650.00 and set an "outperform" rating on the stock in a research report on Thursday, July 28th. Finally, Truist Financial reduced their price target on ServiceNow from $600.00 to $550.00 and set a "buy" rating for the company in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $601.80.
ServiceNow Stock Performance
NOW traded up $5.15 during trading on Monday, hitting $500.00. The stock had a trading volume of 59,196 shares, compared to its average volume of 1,815,718. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $101 billion, a price-to-earnings ratio of 543.79, a P/E/G ratio of 10.04 and a beta of 0.94. The company has a 50 day moving average price of $466.30 and a 200-day moving average price of $503.54. ServiceNow has a one year low of $406.47 and a one year high of $707.60.
ServiceNow (NYSE:NOW - Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. ServiceNow had a net margin of 2.79% and a return on equity of 7.22%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the company posted $0.38 earnings per share. ServiceNow's revenue was up 24.3% compared to the same quarter last year. As a group, research analysts predict that ServiceNow will post 1.73 EPS for the current year.
Insiders Place Their Bets
In other news, insider Paul John Smith sold 412 shares of ServiceNow stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $427.17, for a total value of $175,994.04. Following the completion of the sale, the insider now directly owns 1,755 shares in the company, valued at $749,683.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, General Counsel Russell S. Elmer sold 4,812 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $438.99, for a total transaction of $2,112,419.88. Following the sale, the general counsel now directly owns 9,293 shares of the company's stock, valued at approximately $4,079,534.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 412 shares of the business's stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $427.17, for a total value of $175,994.04. Following the completion of the transaction, the insider now directly owns 1,755 shares of the company's stock, valued at approximately $749,683.35. The disclosure for this sale can be found here. Insiders have sold a total of 32,510 shares of company stock worth $15,196,656 in the last quarter. Corporate insiders own 0.28% of the company's stock.
