UBS Group Trims ServiceNow (NYSE:NOW) Target Price to $875.00

ServiceNow (NYSE:NOW) had its price target lowered by UBS Group from $920.00 to $875.00 in a research report released on Thursday, Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

Other analysts have also recently issued reports about the stock. Citigroup upped their target price on shares of ServiceNow from $896.00 to $906.00 and gave the company a buy rating in a report on Thursday, April 18th. Mizuho upped their target price on shares of ServiceNow from $750.00 to $820.00 and gave the company a buy rating in a report on Thursday, January 25th. Truist Financial upped their target price on shares of ServiceNow from $700.00 to $750.00 and gave the company a hold rating in a report on Thursday, January 25th. Piper Sandler upped their target price on shares of ServiceNow from $750.00 to $830.00 and gave the company an overweight rating in a report on Thursday, January 25th. Finally, Oppenheimer upped their target price on shares of ServiceNow from $750.00 to $800.00 and gave the company an outperform rating in a report on Thursday, January 18th. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $792.00.

ServiceNow Stock Up 1.0 %

Shares of ServiceNow stock opened at $723.55 on Thursday. The company has a market cap of $148.60 billion, a price-to-earnings ratio of 77.39, a price-to-earnings-growth ratio of 4.57 and a beta of 0.97. The company’s 50 day moving average is $759.21 and its 200 day moving average is $708.95. ServiceNow has a twelve month low of $427.68 and a twelve month high of $815.32. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Research analysts anticipate that ServiceNow will post 6.16 EPS for the current year.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the stock in a transaction 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 completion of the transaction, 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 is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,164 shares of company stock valued at $9,940,303. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after purchasing an additional 122,577 shares during the last quarter. FMR LLC lifted its holdings in shares of ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after acquiring an additional 595,697 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of ServiceNow by 2.2% in the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after acquiring an additional 53,719 shares during the last quarter. Norges Bank bought a new stake in shares of ServiceNow in the 4th quarter worth about $1,648,259,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of ServiceNow by 3.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after acquiring an additional 81,028 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.