ServiceNow (NYSE:NOW) PT Lowered to $680.00 at Barclays

ServiceNow (NYSE:NOW) had its price target cut by Barclays from $791.00 to $680.00 in a research note issued to investors on Wednesday, The Fly reports.

Other analysts have also issued research reports about the stock. Argus raised their target price on shares of ServiceNow from $760.00 to $805.00 and gave the stock a buy rating in a research report on Tuesday, November 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ServiceNow in a research note on Monday, November 1st. They issued a buy rating and a $820.00 target price on the stock. Mizuho raised their price target on shares of ServiceNow from $650.00 to $680.00 and gave the company a buy rating in a report on Monday, October 18th. Needham & Company LLC raised their price target on shares of ServiceNow from $641.00 to $780.00 and gave the company a buy rating in a report on Monday, November 1st. Finally, Credit Suisse Group started coverage on shares of ServiceNow in a report on Tuesday, November 16th. They set an outperform rating and a $850.00 price target for the company. Three investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has an average rating of Buy and a consensus price target of $720.90.

NYSE:NOW opened at $531.02 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $635.98 and a two-hundred day simple moving average of $625.86. The company has a market cap of $105.67 billion, a price-to-earnings ratio of 487.17, a price-to-earnings-growth ratio of 9.42 and a beta of 1.01. ServiceNow has a 52 week low of $448.27 and a 52 week high of $707.60.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 27th. The information technology services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.16. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. ServiceNow had a net margin of 3.99% and a return on equity of 9.31%. The business’s revenue was up 31.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 earnings per share. On average, analysts expect that ServiceNow will post 1.39 EPS for the current year.

In other ServiceNow news, CFO Gina Mastantuono sold 66 shares of the business’s stock in a transaction that occurred on Tuesday, November 9th. The shares were sold at an average price of $695.31, for a total value of $45,890.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dennis Woodside bought 2,861 shares of the firm’s stock in a transaction on Monday, November 8th. The stock was acquired at an average cost of $694.58 per share, with a total value of $1,987,193.38. The disclosure for this purchase can be found here. Insiders have sold 24,655 shares of company stock worth $15,161,081 over the last ninety days. 0.35% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of NOW. Sugarloaf Wealth Management LLC lifted its stake in shares of ServiceNow by 150.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the information technology services provider’s stock worth $25,000 after buying an additional 24 shares during the last quarter. Eagle Bay Advisors LLC raised its stake in ServiceNow by 75.0% during the 3rd quarter. Eagle Bay Advisors LLC now owns 42 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Baystate Wealth Management LLC raised its stake in ServiceNow by 60.0% during the 3rd quarter. Baystate Wealth Management LLC now owns 48 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 18 shares during the last quarter. PFG Private Wealth Management LLC acquired a new position in ServiceNow during the 3rd quarter valued at $31,000. Finally, MV Capital Management Inc. raised its stake in ServiceNow by 96.2% during the 3rd quarter. MV Capital Management Inc. now owns 51 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

ServiceNow Company Profile

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.

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