ServiceNow (NYSE:NOW – Get Free Report)’s stock had its “buy” rating restated by research analysts at Stifel Nicolaus in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $640.00 price target on the information technology services provider’s stock. Stifel Nicolaus’ price target suggests a potential upside of 18.15% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. Mizuho increased their price target on shares of ServiceNow from $510.00 to $620.00 in a report on Monday, July 17th. StockNews.com began coverage on ServiceNow in a report on Thursday, August 17th. They set a “buy” rating for the company. Morgan Stanley upped their price objective on ServiceNow from $586.00 to $630.00 in a report on Thursday, July 27th. Piper Sandler lifted their target price on ServiceNow from $525.00 to $600.00 in a report on Friday, June 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $660.00 price target on shares of ServiceNow in a research note on Friday, August 4th. Two research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $594.79.
ServiceNow Stock Performance
Shares of NOW traded down $13.53 during mid-day trading on Tuesday, reaching $541.70. The company’s stock had a trading volume of 533,757 shares, compared to its average volume of 1,434,778. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.21. ServiceNow has a 1-year low of $337.00 and a 1-year high of $614.36. The business has a 50-day simple moving average of $569.36 and a two-hundred day simple moving average of $528.51. The stock has a market cap of $110.37 billion, a P/E ratio of 78.04, a PEG ratio of 5.64 and a beta of 1.01.
ServiceNow (NYSE:NOW – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.34. ServiceNow had a return on equity of 11.07% and a net margin of 17.76%. The business had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.13 billion. As a group, equities research analysts anticipate that ServiceNow will post 3.59 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, General Counsel Russell S. Elmer sold 91 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $535.10, for a total transaction of $48,694.10. Following the completion of the transaction, the general counsel now directly owns 4,225 shares in the company, valued at $2,260,797.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Gina Mastantuono sold 759 shares of the business’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $552.98, for a total transaction of $419,711.82. Following the transaction, the chief financial officer now owns 7,357 shares in the company, valued at approximately $4,068,273.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 91 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $535.10, for a total value of $48,694.10. Following the transaction, the general counsel now directly owns 4,225 shares in the company, valued at $2,260,797.50. The disclosure for this sale can be found here. Insiders sold a total of 16,951 shares of company stock valued at $9,586,587 in the last three months. Insiders own 0.28% of the company’s stock.
Hedge Funds Weigh In On ServiceNow
A number of large investors have recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich increased its holdings in ServiceNow by 96,156.9% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 23,469,361 shares of the information technology services provider’s stock worth $13,189,077,000 after purchasing an additional 23,444,979 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in ServiceNow by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,835,423 shares of the information technology services provider’s stock worth $5,760,149,000 after purchasing an additional 727,494 shares in the last quarter. State Street Corp increased its position in shares of ServiceNow by 2.0% during the second quarter. State Street Corp now owns 8,240,319 shares of the information technology services provider’s stock valued at $4,630,812,000 after acquiring an additional 158,165 shares during the last quarter. Morgan Stanley lifted its holdings in ServiceNow by 4.3% during the fourth quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider’s stock worth $2,745,763,000 after acquiring an additional 288,522 shares during the period. Finally, Polen Capital Management LLC boosted its position in ServiceNow by 12.6% in the fourth quarter. Polen Capital Management LLC now owns 4,452,974 shares of the information technology services provider’s stock worth $1,728,956,000 after purchasing an additional 499,675 shares during the last quarter. 87.14% of the stock is currently owned by institutional investors.
ServiceNow Company Profile
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.