ServiceNow (NYSE:NOW – Get Free Report) had its price objective hoisted by research analysts at Jefferies Financial Group from $525.00 to $650.00 in a report released on Wednesday, Marketbeat.com reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Jefferies Financial Group’s price target indicates a potential upside of 16.11% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. Citigroup upped their price target on ServiceNow from $506.00 to $562.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Mizuho lifted their target price on shares of ServiceNow from $510.00 to $620.00 in a report on Monday, July 17th. Piper Sandler increased their price target on shares of ServiceNow from $525.00 to $600.00 in a report on Friday, June 9th. 22nd Century Group reaffirmed a “reiterates” rating on shares of ServiceNow in a report on Thursday, April 27th. Finally, Bank of America increased their target price on ServiceNow from $600.00 to $700.00 in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $589.48.
ServiceNow Trading Down 3.0 %
NYSE NOW opened at $559.79 on Wednesday. The firm’s fifty day moving average is $553.70 and its two-hundred day moving average is $484.26. ServiceNow has a one year low of $337.00 and a one year high of $614.36. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $114.05 billion, a PE ratio of 285.61, a P/E/G ratio of 7.17 and a beta of 1.01.
ServiceNow (NYSE:NOW – Get Free Report) last issued its quarterly earnings results on Wednesday, April 26th. The information technology services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.37. ServiceNow had a return on equity of 10.18% and a net margin of 5.25%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Analysts expect that ServiceNow will post 3.17 earnings per share for the current year.
Insider Activity at ServiceNow
In related news, insider Christopher Bedi sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $560.85, for a total value of $560,850.00. Following the sale, the insider now directly owns 14,121 shares of the company’s stock, valued at $7,919,762.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Nicholas Tzitzon sold 1,135 shares of the business’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $437.66, for a total transaction of $496,744.10. Following the completion of the sale, the insider now owns 1,308 shares in the company, valued at approximately $572,459.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Bedi sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $560.85, for a total transaction of $560,850.00. Following the completion of the transaction, the insider now owns 14,121 shares in the company, valued at approximately $7,919,762.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,786 shares of company stock worth $15,677,627. 0.28% of the stock is currently owned by insiders.
Institutional Investors Weigh In On ServiceNow
Several large investors have recently made changes to their positions in NOW. Hollencrest Capital Management purchased a new stake in ServiceNow during the 4th quarter worth $27,000. CoreCap Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $27,000. Barrett & Company Inc. purchased a new stake in shares of ServiceNow during the 1st quarter valued at about $28,000. High Net Worth Advisory Group LLC acquired a new position in ServiceNow during the 1st quarter worth approximately $29,000. Finally, Altshuler Shaham Ltd purchased a new position in ServiceNow in the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 86.72% of the company’s stock.
About ServiceNow
(Get Free Report)
ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
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