ServiceNow (NYSE:NOW – Get Rating) had its price objective dropped by analysts at Morgan Stanley from $810.00 to $745.00 in a note issued to investors on Thursday, The Fly reports. Morgan Stanley’s price objective suggests a potential upside of 48.11% from the company’s previous close.
A number of other research analysts have also recently commented on NOW. Credit Suisse Group reduced their price target on shares of ServiceNow from $800.00 to $700.00 in a research report on Thursday. Exane BNP Paribas cut shares of ServiceNow from a “neutral” rating to an “underperform” rating in a research report on Tuesday, March 29th. Barclays reduced their price target on shares of ServiceNow from $652.00 to $613.00 in a research report on Thursday. Oppenheimer cut their target price on shares of ServiceNow from $660.00 to $600.00 in a report on Thursday. Finally, Citigroup raised their target price on shares of ServiceNow from $623.00 to $656.00 in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of “Buy” and a consensus price target of $667.07.
Shares of NOW opened at $503.00 on Thursday. The firm’s 50 day simple moving average is $539.66 and its 200 day simple moving average is $594.68. The company has a market capitalization of $100.60 billion, a P/E ratio of 409.03, a P/E/G ratio of 9.42 and a beta of 1.04. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.05 and a quick ratio of 1.05. ServiceNow has a 1-year low of $448.27 and a 1-year high of $707.60.
ServiceNow (NYSE:NOW – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The information technology services provider reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. ServiceNow had a net margin of 3.90% and a return on equity of 9.43%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 26.6% on a year-over-year basis. On average, equities analysts anticipate that ServiceNow will post 1.85 earnings per share for the current year.
In other ServiceNow news, CFO Gina Mastantuono sold 2,102 shares of the firm’s stock in a transaction on Tuesday, February 8th. The stock was sold at an average price of $564.20, for a total transaction of $1,185,948.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Bedi sold 700 shares of ServiceNow stock in a transaction dated Friday, January 28th. The stock was sold at an average price of $528.69, for a total value of $370,083.00. The disclosure for this sale can be found here. Insiders have sold 32,141 shares of company stock valued at $18,355,758 in the last three months. Insiders own 0.35% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of NOW. Morgan Stanley raised its position in shares of ServiceNow by 1.2% in the 2nd quarter. Morgan Stanley now owns 7,277,395 shares of the information technology services provider’s stock worth $3,999,292,000 after purchasing an additional 86,441 shares during the last quarter. SG Americas Securities LLC raised its position in ServiceNow by 101.7% in the 3rd quarter. SG Americas Securities LLC now owns 2,674 shares of the information technology services provider’s stock worth $1,664,000 after buying an additional 157,918 shares during the last quarter. New World Advisors LLC purchased a new position in ServiceNow in the 3rd quarter worth about $350,000. Versor Investments LP raised its position in ServiceNow by 7.7% in the 3rd quarter. Versor Investments LP now owns 641 shares of the information technology services provider’s stock worth $399,000 after buying an additional 46 shares during the last quarter. Finally, Brighton Jones LLC raised its position in ServiceNow by 29.7% in the 3rd quarter. Brighton Jones LLC now owns 765 shares of the information technology services provider’s stock worth $476,000 after buying an additional 175 shares during the last quarter. 86.63% of the stock is owned by hedge funds and other institutional investors.
ServiceNow Company Profile
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.