ServiceNow (NYSE:NOW - Get Free Report)'s stock had its "sell" rating restated by equities research analysts at Guggenheim in a note issued to investors on Wednesday,Benzinga reports. They presently have a $716.00 price target on the information technology services provider's stock. Guggenheim's price objective points to a potential downside of 36.34% from the stock's previous close.
Several other brokerages also recently weighed in on NOW. JPMorgan Chase & Co. upped their price objective on ServiceNow from $820.00 to $950.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. The Goldman Sachs Group increased their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Scotiabank assumed coverage on ServiceNow in a research note on Tuesday, November 19th. They issued a "sector outperform" rating and a $1,230.00 price target for the company. Barclays increased their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus increased their price target on ServiceNow from $900.00 to $990.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $1,093.34.
Get Our Latest Analysis on NOW
NYSE NOW traded up $27.84 on Wednesday, reaching $1,124.69. The stock had a trading volume of 277,645 shares, compared to its average volume of 1,121,373. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a fifty day moving average of $1,071.36 and a two-hundred day moving average of $937.32. ServiceNow has a 1-year low of $637.99 and a 1-year high of $1,157.90. The company has a market cap of $231.69 billion, a P/E ratio of 174.80, a price-to-earnings-growth ratio of 4.85 and a beta of 0.99.
ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow's quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 EPS. On average, equities research analysts anticipate that ServiceNow will post 7.06 EPS for the current year.
In related news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 313 shares of ServiceNow stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the sale, the insider now owns 3,649 shares in the company, valued at $3,884,725.40. This trade represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. United Asset Strategies Inc. raised its stake in shares of ServiceNow by 0.5% during the 4th quarter. United Asset Strategies Inc. now owns 22,323 shares of the information technology services provider's stock valued at $23,665,000 after purchasing an additional 110 shares during the period. Cornerstone Wealth Group LLC increased its stake in ServiceNow by 0.6% in the 4th quarter. Cornerstone Wealth Group LLC now owns 4,954 shares of the information technology services provider's stock worth $5,252,000 after acquiring an additional 30 shares during the last quarter. KBC Group NV increased its stake in ServiceNow by 6.2% in the 4th quarter. KBC Group NV now owns 174,620 shares of the information technology services provider's stock worth $185,118,000 after acquiring an additional 10,261 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in ServiceNow in the 4th quarter worth about $48,802,000. Finally, Blue Trust Inc. increased its stake in ServiceNow by 26.0% in the 4th quarter. Blue Trust Inc. now owns 2,334 shares of the information technology services provider's stock worth $2,474,000 after acquiring an additional 482 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.
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.
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