ServiceNow (NYSE:NOW) Downgraded by TheStreet to C+

ServiceNow (NYSE:NOWGet Rating) was downgraded by research analysts at TheStreet from a “b-” rating to a “c+” rating in a research report issued to clients and investors on Tuesday, TheStreetRatingsTable reports.

NOW has been the subject of a number of other research reports. Canaccord Genuity Group lowered their price target on ServiceNow from $715.00 to $615.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. Royal Bank of Canada lowered their price target on ServiceNow from $700.00 to $660.00 and set an “outperform” rating for the company in a research report on Monday. Piper Sandler raised ServiceNow from a “neutral” rating to an “overweight” rating and set a $650.00 price target for the company in a research report on Thursday, January 27th. Oppenheimer lowered their price target on ServiceNow from $775.00 to $660.00 and set an “outperform” rating for the company in a research report on Thursday, January 27th. Finally, Credit Suisse Group lowered their price target on ServiceNow from $850.00 to $800.00 and set an “outperform” rating for the company in a research report on Thursday, January 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $676.43.

Shares of NYSE NOW opened at $466.29 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $93.26 billion, a PE ratio of 409.03, a price-to-earnings-growth ratio of 9.42 and a beta of 1.04. ServiceNow has a 12-month low of $448.27 and a 12-month high of $707.60. The stock’s fifty day simple moving average is $539.66 and its two-hundred day simple moving average is $594.68.

ServiceNow (NYSE:NOWGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The information technology services provider reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.03. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. ServiceNow had a return on equity of 9.43% and a net margin of 3.90%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS. On average, equities analysts predict that ServiceNow will post 1.85 earnings per share for the current fiscal year.

In other ServiceNow news, Director Frederic B. Luddy sold 6,600 shares of the business’s stock in a transaction that occurred on Tuesday, February 8th. The stock was sold at an average price of $582.16, for a total transaction of $3,842,256.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gina Mastantuono sold 193 shares of the business’s stock in a transaction that occurred on Tuesday, April 12th. The stock was sold at an average price of $525.00, for a total value of $101,325.00. Following the sale, the chief financial officer now owns 4,011 shares of the company’s stock, valued at $2,105,775. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,141 shares of company stock valued at $18,355,758. 0.35% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. Chilton Capital Management LLC acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $25,000. Eagle Bay Advisors LLC boosted its holdings in shares of ServiceNow by 75.0% during the 3rd quarter. Eagle Bay Advisors LLC now owns 42 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Baystate Wealth Management LLC boosted its holdings in shares of ServiceNow by 60.0% during the 3rd quarter. Baystate Wealth Management LLC now owns 48 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 18 shares during the last quarter. MV Capital Management Inc. boosted its holdings in shares of ServiceNow by 96.2% during the 3rd quarter. MV Capital Management Inc. now owns 51 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 25 shares during the last quarter. Finally, AHL Investment Management Inc. acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 86.63% 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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