ServiceNow (NYSE:NOW) PT Lowered to $550.00 at Stifel Nicolaus

ServiceNow (NYSE:NOWGet Rating) had its price objective reduced by Stifel Nicolaus from $650.00 to $550.00 in a research note released on Wednesday morning, The Fly reports.

Several other analysts have also weighed in on the stock. Oppenheimer lowered their target price on shares of ServiceNow from $660.00 to $600.00 in a research note on Thursday, April 28th. Wells Fargo & Company began coverage on shares of ServiceNow in a research note on Wednesday, May 18th. They set an overweight rating and a $600.00 target price for the company. Barclays lowered their target price on shares of ServiceNow from $652.00 to $613.00 in a research note on Thursday, April 28th. BNP Paribas lowered shares of ServiceNow from a neutral rating to an underperform rating and set a $460.00 price target for the company. in a research report on Tuesday, March 29th. Finally, Bank of America lowered their price target on shares of ServiceNow from $725.00 to $680.00 and set a buy rating for the company in a research report on Thursday, January 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $638.59.

Shares of NYSE:NOW opened at $476.29 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $495.54 and a 200 day simple moving average of $559.59. The firm has a market cap of $95.48 billion, a PE ratio of 432.99, a price-to-earnings-growth ratio of 8.35 and a beta of 1.09. ServiceNow has a 12-month low of $406.47 and a 12-month high of $707.60.

ServiceNow (NYSE:NOWGet Rating) last released its earnings results on Wednesday, April 27th. The information technology services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.13. ServiceNow had a net margin of 3.56% and a return on equity of 8.66%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, equities research analysts forecast that ServiceNow will post 1.8 EPS for the current fiscal year.

In other ServiceNow news, COO Chirantan Jitendra Desai sold 5,000 shares of the business’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $575.44, for a total transaction of $2,877,200.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher Bedi sold 700 shares of the business’s stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $581.04, for a total value of $406,728.00. The disclosure for this sale can be found here. Insiders sold a total of 15,370 shares of company stock valued at $8,436,928 over the last three months. 0.35% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Gradient Investments LLC increased its holdings in shares of ServiceNow by 6.0% in the 1st quarter. Gradient Investments LLC now owns 27,081 shares of the information technology services provider’s stock valued at $15,081,000 after purchasing an additional 1,532 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of ServiceNow by 85.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 148 shares of the information technology services provider’s stock valued at $83,000 after purchasing an additional 68 shares during the period. L.M. Kohn & Company acquired a new position in shares of ServiceNow in the 1st quarter valued at about $724,000. M Holdings Securities Inc. acquired a new position in shares of ServiceNow in the 1st quarter valued at about $372,000. Finally, Advisory Services Network LLC increased its holdings in shares of ServiceNow by 68.2% in the 1st quarter. Advisory Services Network LLC now owns 10,318 shares of the information technology services provider’s stock valued at $5,746,000 after purchasing an additional 4,182 shares during the period. Institutional investors own 87.20% of the company’s stock.

About ServiceNow (Get Rating)

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.

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