ServiceNow (NYSE:NOW) Price Target Cut to $525.00 by Analysts at Deutsche Bank Aktiengesellschaft

ServiceNow (NYSE:NOWGet Rating) had its target price cut by Deutsche Bank Aktiengesellschaft from $625.00 to $525.00 in a report issued on Monday, The Fly reports. They currently have a buy rating on the information technology services provider’s stock.

Several other brokerages have also weighed in on NOW. Citigroup dropped their target price on ServiceNow from $515.00 to $508.00 and set a buy rating on the stock in a research report on Thursday, January 19th. Wolfe Research upped their target price on ServiceNow from $440.00 to $500.00 in a research report on Thursday, January 12th. Macquarie reaffirmed an outperform rating and issued a $500.00 target price on shares of ServiceNow in a research report on Wednesday, November 2nd. Royal Bank of Canada decreased their price target on ServiceNow from $550.00 to $500.00 and set an outperform rating for the company in a research note on Monday, October 17th. Finally, Guggenheim decreased their price target on ServiceNow to $500.00 in a research note on Thursday, October 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $526.77.

ServiceNow Price Performance

NOW stock opened at $442.44 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.33. ServiceNow has a 52-week low of $337.00 and a 52-week high of $621.41. The stock’s 50 day moving average is $399.45 and its two-hundred day moving average is $416.45. The company has a market capitalization of $89.37 billion, a PE ratio of 446.91, a P/E/G ratio of 6.34 and a beta of 0.98.

ServiceNow (NYSE:NOWGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The information technology services provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. ServiceNow had a return on equity of 7.22% and a net margin of 2.90%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.85 billion. Analysts predict that ServiceNow will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, Director Frederic B. Luddy sold 6,600 shares of the stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $404.81, for a total transaction of $2,671,746.00. Following the transaction, the director now owns 31,200 shares of the company’s stock, valued at approximately $12,630,072. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Frederic B. Luddy sold 6,600 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $404.81, for a total value of $2,671,746.00. Following the sale, the director now owns 31,200 shares in the company, valued at approximately $12,630,072. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 478 shares of the company’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $418.56, for a total transaction of $200,071.68. Following the completion of the sale, the insider now owns 1,327 shares in the company, valued at approximately $555,429.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,254 shares of company stock valued at $6,485,054. 0.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceNow

Several large investors have recently modified their holdings of NOW. Tortoise Investment Management LLC boosted its holdings in ServiceNow by 55.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 62 shares of the information technology services provider’s stock worth $29,000 after buying an additional 22 shares during the period. Armstrong Advisory Group Inc. bought a new position in ServiceNow in the 4th quarter worth approximately $29,000. High Net Worth Advisory Group LLC bought a new position in ServiceNow in the 1st quarter worth approximately $29,000. Romano Brothers AND Company bought a new position in ServiceNow in the 4th quarter valued at $33,000. Finally, Vigilant Capital Management LLC boosted its holdings in ServiceNow by 300.0% in the 3rd quarter. Vigilant Capital Management LLC now owns 96 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 86.31% of the company’s stock.

About ServiceNow

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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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