ServiceNow Inc (NYSE:NOW)’s share price gapped up prior to trading on Monday . The stock had previously closed at $186.58, but opened at $184.45. ServiceNow shares last traded at $182.69, with a volume of 36260 shares traded.
NOW has been the subject of several recent analyst reports. Barclays lifted their price target on ServiceNow from $198.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, September 7th. Argus lifted their price target on ServiceNow to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, August 15th. They noted that the move was a valuation call. Zacks Investment Research lowered ServiceNow from a “hold” rating to a “strong sell” rating in a research report on Monday, July 30th. Northland Securities reaffirmed a “buy” rating and issued a $200.00 price target on shares of ServiceNow in a research report on Thursday, July 26th. Finally, Bank of America lifted their price objective on ServiceNow from $203.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. ServiceNow presently has an average rating of “Buy” and a consensus target price of $203.04.
The company has a market cap of $34.81 billion, a PE ratio of -173.52, a PEG ratio of 46.45 and a beta of 1.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.28.
ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06. The business had revenue of $631.05 million during the quarter, compared to the consensus estimate of $616.68 million. ServiceNow had a negative return on equity of 7.48% and a negative net margin of 4.16%. The business’s quarterly revenue was up 40.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. Equities analysts forecast that ServiceNow Inc will post 0.16 EPS for the current year.
In other ServiceNow news, Director Ronald E. F. Codd sold 39,506 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $185.88, for a total transaction of $7,343,375.28. Following the completion of the sale, the director now directly owns 53,428 shares in the company, valued at approximately $9,931,196.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Scarpelli sold 30,037 shares of the business’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $182.89, for a total value of $5,493,466.93. Following the sale, the chief financial officer now owns 68,748 shares of the company’s stock, valued at $12,573,321.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 188,319 shares of company stock valued at $34,729,682. Corporate insiders own 1.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its holdings in ServiceNow by 1.0% in the 2nd quarter. Northern Trust Corp now owns 990,521 shares of the information technology services provider’s stock worth $170,835,000 after purchasing an additional 9,950 shares in the last quarter. Zurich Insurance Group Ltd FI lifted its holdings in ServiceNow by 43.3% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 37,929 shares of the information technology services provider’s stock worth $6,542,000 after purchasing an additional 11,454 shares in the last quarter. CAPROCK Group Inc. purchased a new position in ServiceNow in the 2nd quarter worth approximately $266,000. Centaurus Financial Inc. purchased a new position in ServiceNow in the 2nd quarter worth approximately $685,000. Finally, Bank of Nova Scotia purchased a new position in ServiceNow in the 2nd quarter worth approximately $11,814,000. Institutional investors and hedge funds own 95.83% of the company’s stock.
ServiceNow Company Profile (NYSE:NOW)
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.
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