BTIG Research Has Lowered Expectations for ServiceNow (NYSE:NOW) Stock Price
by Michael Walen · The Markets DailyServiceNow (NYSE:NOW – Get Free Report) had its price objective decreased by stock analysts at BTIG Research from $200.00 to $185.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. BTIG Research’s target price points to a potential upside of 80.56% from the company’s current price.
Other analysts also recently issued reports about the company. The Goldman Sachs Group set a $216.00 target price on ServiceNow in a research report on Monday, February 2nd. Wall Street Zen downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Arete Research set a $200.00 price objective on ServiceNow in a research report on Tuesday, January 6th. Benchmark initiated coverage on ServiceNow in a research report on Wednesday, April 1st. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Evercore restated an “outperform” rating and issued a $175.00 price objective (down from $225.00) on shares of ServiceNow in a research report on Thursday, January 29th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.19.
Get Our Latest Stock Analysis on ServiceNow
ServiceNow Stock Up 0.5%
NOW opened at $102.46 on Tuesday. The business’s fifty day moving average is $109.76 and its two-hundred day moving average is $146.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $107.17 billion, a price-to-earnings ratio of 61.43, a PEG ratio of 1.71 and a beta of 1.01. ServiceNow has a one year low of $98.00 and a one year high of $211.48.
ServiceNow (NYSE:NOW – Get Free Report) last posted its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.53 billion. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.ServiceNow’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 earnings per share. Analysts anticipate that ServiceNow will post 8.93 EPS for the current fiscal year.
Insider Activity at ServiceNow
In other news, insider Kevin Thomas Mcbride sold 1,400 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the sale, the insider owned 26,314 shares in the company, valued at approximately $2,781,652.94. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Fipps sold 9,641 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total value of $1,021,271.13. Following the sale, the insider owned 11,757 shares of the company’s stock, valued at approximately $1,245,419.01. This trade represents a 45.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 16,237 shares of company stock worth $1,697,162. Company insiders own 0.34% of the company’s stock.
Institutional Investors Weigh In On ServiceNow
Hedge funds have recently bought and sold shares of the business. IAG Wealth Partners LLC grew its stake in ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares in the last quarter. Total Investment Management Inc. acquired a new position in shares of ServiceNow in the 2nd quarter worth approximately $31,000. Bogart Wealth LLC grew its position in shares of ServiceNow by 93.8% in the 3rd quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 15 shares in the last quarter. Wealth Watch Advisors INC acquired a new position in shares of ServiceNow in the 3rd quarter worth approximately $29,000. Finally, Albion Financial Group UT grew its position in shares of ServiceNow by 78.9% in the 3rd quarter. Albion Financial Group UT now owns 34 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 15 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.
ServiceNow Company Profile
ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.
The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.