2 days Ago By ABMN Staff
ServiceNow ( NYSE:NOW – Get Free Report ) had its price target cut by Bank of America from $1,280.00 to $1,025.00 in a note issued to investors on Tuesday, Benzinga reports.
The firm currently has a “buy” rating on the information technology services provider’s stock. Bank of America ‘s price objective would indicate a potential upside of 28.67% from the company’s previous close.
A number of other equities research analysts have also recently commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research report on Thursday, January 30th.
StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Jefferies Financial Group cut their price target on ServiceNow from $1,250.
00 to $1,025.00 and set a “buy” rating for the company in a report on Tuesday. Canaccord Genuity Group reissued a “buy” rating and set a $1,275.
00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. Finally, Scotiabank reduced their price target on ServiceNow from $1,230.00 to $1,050.
00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have issued a buy rating to the company. According to data from MarketBeat.
com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,057.17. Get Our Latest Report on ServiceNow ServiceNow Stock Down 2.
4 % ServiceNow ( NYSE:NOW – Get Free Report ) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.
67. ServiceNow had a return on equity of 17.11% and a net margin of 12.
97%. Equities analysts predict that ServiceNow will post 8.93 EPS for the current fiscal year.
ServiceNow announced that its board has initiated a share repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.
3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued. Insider Activity In other news, CEO William R.
Mcdermott sold 1,263 shares of ServiceNow stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.
30. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,644,564.50.
The trade was a 32.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website .
Also, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.
40. Following the completion of the transaction, the chief financial officer now directly owns 11,126 shares in the company, valued at $10,733,252.20.
This trade represents a 28.53 % decrease in their position. The disclosure for this sale can be found here .
In the last quarter, insiders sold 19,896 shares of company stock worth $19,568,441. 0.38% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On ServiceNow Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of ServiceNow by 1.
0% during the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock worth $20,353,517,000 after buying an additional 190,430 shares during the last quarter.
Price T Rowe Associates Inc. MD raised its stake in ServiceNow by 6.8% during the 4th quarter.
Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock worth $8,434,235,000 after acquiring an additional 509,467 shares in the last quarter. FMR LLC lifted its position in ServiceNow by 4.
9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after acquiring an additional 272,506 shares during the last quarter. Geode Capital Management LLC boosted its stake in ServiceNow by 2.
4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock valued at $4,560,890,000 after acquiring an additional 100,670 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of ServiceNow by 87,501.
3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the last quarter. Hedge funds and other institutional investors own 87.
18% of the company’s stock. About ServiceNow ( Get Free Report ) ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.
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