ServiceNow (NYSE:NOW) Shares Down 2.4%

ServiceNow, Inc. (NYSE:NOW)’s stock price dropped 2.4% during mid-day trading on Wednesday . The company traded as low as $759.55 and last traded at $760.21. Approximately 332,758 shares traded hands during trading, a decline of 73% from the average daily volume of 1,219,450 shares. The stock had previously closed at $778.57.

Analyst Ratings Changes

NOW has been the topic of a number of analyst reports. TheStreet upgraded ServiceNow from a “c+” rating to a “b-” rating in a research note on Friday, December 8th. Barclays raised their target price on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company raised their price objective on ServiceNow from $675.00 to $725.00 and gave the company an “overweight” rating in a research report on Thursday, November 30th. Argus lifted their target price on ServiceNow from $675.00 to $770.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. Finally, UBS Group lifted their target price on ServiceNow from $865.00 to $885.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $762.96.

ServiceNow Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50 day simple moving average is $769.61 and its 200 day simple moving average is $680.16. The firm has a market cap of $156.13 billion, a price-to-earnings ratio of 90.56, a P/E/G ratio of 4.83 and a beta of 0.97.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. ServiceNow’s revenue for the quarter was up 25.6% on a year-over-year basis. As a group, research analysts expect that ServiceNow, Inc. will post 6.11 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now owns 994 shares in the company, valued at $776,373.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock valued at $9,940,303 in the last ninety days. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

A number of hedge funds have recently added to or reduced their stakes in the stock. RB Capital Management LLC raised its position in shares of ServiceNow by 25.2% in the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after acquiring an additional 192 shares during the period. Zions Bancorporation N.A. boosted its position in shares of ServiceNow by 17.9% in the first quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock valued at $487,000 after acquiring an additional 133 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in shares of ServiceNow by 728.0% in the first quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock worth $1,070,000 after acquiring an additional 1,689 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of ServiceNow by 9.0% in the first quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock worth $195,000 after acquiring an additional 29 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of ServiceNow by 0.7% in the first quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock worth $6,499,000 after acquiring an additional 86 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

About ServiceNow

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.