ServiceNow (NYSE:NOW) Shares Down 2%

ServiceNow, Inc. (NYSE:NOW)’s share price fell 2% on Monday . The stock traded as low as $752.60 and last traded at $753.03. 298,612 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 1,171,239 shares. The stock had previously closed at $768.71.

Analyst Ratings Changes

Several brokerages recently weighed in on NOW. JMP Securities increased their price objective on ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a research report on Monday, January 22nd. The Goldman Sachs Group raised their price target on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Truist Financial raised their price target on ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Royal Bank of Canada raised their price target on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Jefferies Financial Group raised their price target on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $780.00.

ServiceNow Stock Performance

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 has a market capitalization of $152.93 billion, a price-to-earnings ratio of 88.54, a PEG ratio of 4.65 and a beta of 0.97. The stock has a 50 day simple moving average of $768.63 and a two-hundred day simple moving average of $700.17.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the firm earned $0.88 earnings per share. ServiceNow’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, analysts anticipate that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated 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 sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated 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 sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock worth $9,940,303 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Hedge funds and other institutional investors have recently made changes to their positions in the company. Trifecta Capital Advisors LLC increased its position in ServiceNow by 4.7% in the 1st quarter. Trifecta Capital Advisors LLC now owns 6,626 shares of the information technology services provider’s stock valued at $5,052,000 after acquiring an additional 297 shares during the period. WD Rutherford LLC increased its position in ServiceNow by 0.8% in the 1st quarter. WD Rutherford LLC now owns 5,083 shares of the information technology services provider’s stock valued at $3,875,000 after acquiring an additional 41 shares during the period. Independence Bank of Kentucky increased its position in ServiceNow by 27.2% in the 1st quarter. Independence Bank of Kentucky now owns 117 shares of the information technology services provider’s stock valued at $89,000 after acquiring an additional 25 shares during the period. Webster Bank N. A. increased its position in ServiceNow by 16.8% in the 1st quarter. Webster Bank N. A. now owns 4,025 shares of the information technology services provider’s stock valued at $3,069,000 after acquiring an additional 580 shares during the period. Finally, Capital Insight Partners LLC increased its position in ServiceNow by 42.2% in the 1st quarter. Capital Insight Partners LLC now owns 1,375 shares of the information technology services provider’s stock valued at $1,048,000 after acquiring an additional 408 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Company Profile

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.