ServiceNow (NYSE:NOW) Shares Down 0.3%

ServiceNow, Inc. (NYSE:NOW)’s share price fell 0.3% during mid-day trading on Monday . The company traded as low as $710.62 and last traded at $711.73. 351,510 shares were traded during mid-day trading, a decline of 70% from the average session volume of 1,164,786 shares. The stock had previously closed at $713.91.

Analysts Set New Price Targets

A number of brokerages have issued reports on NOW. Stifel Nicolaus reaffirmed a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. KeyCorp assumed coverage on shares of ServiceNow in a report on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 target price for the company. Barclays raised their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Citigroup raised their price objective on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $780.37.

ServiceNow Price Performance

The company’s 50-day moving average price is $764.19 and its two-hundred day moving average price is $703.95. The company has a market cap of $148.35 billion, a P/E ratio of 85.80, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20.

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

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,164 shares of company stock valued at $9,940,303. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of ServiceNow by 2.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,183 shares of the information technology services provider’s stock worth $646,000 after acquiring an additional 31 shares during the period. HB Wealth Management LLC raised its holdings in shares of ServiceNow by 27.5% in the 3rd quarter. HB Wealth Management LLC now owns 2,131 shares of the information technology services provider’s stock worth $1,191,000 after purchasing an additional 459 shares in the last quarter. Summit Global Investments bought a new stake in shares of ServiceNow in the 3rd quarter worth approximately $209,000. RFG Advisory LLC raised its holdings in shares of ServiceNow by 33.9% in the 3rd quarter. RFG Advisory LLC now owns 2,386 shares of the information technology services provider’s stock worth $1,333,000 after purchasing an additional 604 shares in the last quarter. Finally, Ziegler Capital Management LLC raised its holdings in shares of ServiceNow by 43.4% in the 3rd quarter. Ziegler Capital Management LLC now owns 30,254 shares of the information technology services provider’s stock worth $16,911,000 after purchasing an additional 9,163 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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.