ServiceNow (NYSE:NOW) Shares Down 2%

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

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research analyst reports. JMP Securities increased their price objective on shares of ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a report on Monday, January 22nd. Mizuho increased their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. BMO Capital Markets raised their target price on shares of ServiceNow from $630.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Robert W. Baird raised their target price on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a report on Tuesday. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $780.00.

ServiceNow Stock Up 1.2 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $152.93 billion, a P/E ratio of 88.54, a price-to-earnings-growth ratio of 4.65 and a beta of 0.97. The business’s fifty day moving average is $768.63 and its two-hundred day moving average is $700.17.

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

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other ServiceNow news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were 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 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. Insiders sold a total of 13,164 shares of company stock valued at $9,940,303 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow in the 4th quarter worth $29,000. AdvisorNet Financial Inc increased its position in ServiceNow by 266.7% during the 4th 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 in the last quarter. Sachetta LLC acquired a new position in ServiceNow during the 4th quarter valued at about $35,000. PFG Private Wealth Management LLC acquired a new position in ServiceNow during the 3rd quarter valued at about $28,000. Finally, Disciplined Equity Management Inc. acquired a new position in ServiceNow during the 4th quarter valued at about $35,000. 87.18% of the stock is owned by institutional investors.

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.