ServiceNow (NYSE:NOW) Stock Price Down 1.9%

Shares of ServiceNow, Inc. (NYSE:NOW) dropped 1.9% on Friday . The stock traded as low as $713.47 and last traded at $717.23. Approximately 434,059 shares changed hands during trading, a decline of 63% from the average daily volume of 1,159,765 shares. The stock had previously closed at $731.36.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. KeyCorp initiated coverage on ServiceNow in a report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research report on Tuesday. Oppenheimer upped their price target on ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Robert W. Baird upped their price target on ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company upped their price target on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $780.37.

ServiceNow Trading Down 3.1 %

The firm has a 50 day simple moving average of $766.17 and a 200 day simple moving average of $700.64. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $145.55 billion, a PE ratio of 85.28, a P/E/G ratio of 4.65 and a beta of 0.97.

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

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares in the company, valued at $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 in the last ninety days. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Institutional investors and hedge funds have recently bought and sold shares of the business. RB Capital Management LLC increased its holdings in shares of ServiceNow by 25.2% in the first quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock worth $531,000 after purchasing an additional 192 shares during the last quarter. Zions Bancorporation N.A. increased its holdings 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 worth $487,000 after purchasing an additional 133 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of ServiceNow by 728.0% during the first quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock valued at $1,070,000 after buying an additional 1,689 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of ServiceNow by 9.0% during the first quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock valued at $195,000 after buying an additional 29 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of ServiceNow by 0.7% during the first quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock valued at $6,499,000 after buying an additional 86 shares during the period. 87.18% of the stock is owned by institutional investors.

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.