ServiceNow (NYSE:NOW) PT Lowered to $830.00

ServiceNow (NYSE:NOW) had its price objective cut by stock analysts at BMO Capital Markets from $850.00 to $830.00 in a report released on Thursday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the information technology services provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 14.81% from the stock’s current price.

Several other research analysts have also recently commented on the stock. UBS Group increased their target price on shares of ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Barclays increased their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Mizuho raised their price objective on ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Jefferies Financial Group upped their target price on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Truist Financial increased their price target on ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $782.85.

ServiceNow Stock Up 0.9 %

NOW stock opened at $722.94 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $148.48 billion, a P/E ratio of 77.32, a P/E/G ratio of 4.72 and a beta of 0.97. ServiceNow has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The business has a 50-day moving average of $759.21 and a 200-day moving average of $707.90.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a return on equity of 14.00% and a net margin of 20.34%. The business’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, sell-side analysts anticipate that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is owned by company insiders.

Institutional Trading of ServiceNow

Large investors have recently made changes to their positions in the company. Impact Partnership Wealth LLC raised its holdings in shares of ServiceNow by 672.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 85 shares of the information technology services provider’s stock worth $48,000 after buying an additional 74 shares in the last quarter. Galvin Gaustad & Stein LLC lifted its holdings in shares of ServiceNow by 33.3% in the third quarter. Galvin Gaustad & Stein LLC now owns 800 shares of the information technology services provider’s stock worth $447,000 after acquiring an additional 200 shares during the last quarter. Oak Thistle LLC bought a new position in shares of ServiceNow in the third quarter worth about $1,115,000. Asset Management One Co. Ltd. boosted its stake in shares of ServiceNow by 4.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 99,412 shares of the information technology services provider’s stock valued at $55,567,000 after purchasing an additional 4,630 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of ServiceNow by 3.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 59,360 shares of the information technology services provider’s stock valued at $33,180,000 after purchasing an additional 1,904 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

About ServiceNow

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.