ServiceNow (NYSE:NOW) Shares Down 2.4%

ServiceNow, Inc. (NYSE:NOW) dropped 2.4% during trading on Wednesday . The stock 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 Upgrades and Downgrades

NOW has been the subject of several recent research reports. Barclays increased their price target on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Needham & Company LLC raised their price objective on ServiceNow from $660.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Piper Sandler raised their price objective on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Robert W. Baird lifted their price target on ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Mizuho lifted their price target on ServiceNow from $750.00 to $820.00 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $762.96.

ServiceNow Trading Up 0.3 %

The company has a market capitalization of $156.13 billion, a P/E ratio of 90.56, a price-to-earnings-growth ratio of 4.83 and a beta of 0.97. 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 firm has a fifty day moving average price of $769.61 and a 200-day moving average price of $680.16.

ServiceNow (NYSE:NOW) last released its earnings results 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 return on equity of 11.85% and a net margin of 19.30%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the company posted $0.88 earnings per share. ServiceNow’s quarterly revenue was up 25.6% on a year-over-year basis. On average, equities research analysts anticipate that ServiceNow, Inc. will post 6.11 earnings per share for the current year.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO William R. Mcdermott sold 5,030 shares of the 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 sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul John Smith sold 5,159 shares of the stock in a transaction on Tuesday, February 20th. The stock was 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 in the company, valued at approximately $4,064,229.96. 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 90 days. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow during the fourth quarter valued at about $29,000. AdvisorNet Financial Inc grew its stake in shares of ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the last quarter. Sachetta LLC bought a new position in shares of ServiceNow during the fourth quarter valued at about $35,000. PFG Private Wealth Management LLC bought a new position in shares of ServiceNow during the third quarter valued at about $28,000. Finally, Disciplined Equity Management Inc. bought a new position in shares of ServiceNow during the fourth quarter valued at about $35,000. 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.