ServiceNow (NYSE:NOW) Stock Price Down 0.3%

Shares of ServiceNow, Inc. (NYSE:NOW) dropped 0.3% on Monday . The company traded as low as $713.52 and last traded at $721.57. Approximately 205,805 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,203,861 shares. The stock had previously closed at $723.55.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of analyst reports. Morgan Stanley increased their price target on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday. BMO Capital Markets lowered their price objective on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Robert W. Baird upped their price objective on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Piper Sandler upped their price objective on shares of ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $807.28.

ServiceNow Price Performance

The firm has a market cap of $147.94 billion, a P/E ratio of 77.13, a PEG ratio of 4.83 and a beta of 0.97. The business has a fifty day moving average of $759.21 and a 200 day moving average of $710.01. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred 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 $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 over the last quarter. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NOW. PFG Private Wealth Management LLC acquired a new position in ServiceNow during the third quarter valued at approximately $28,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of ServiceNow during the fourth quarter worth $29,000. AdvisorNet Financial Inc increased its holdings 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 worth $31,000 after buying an additional 32 shares in the last quarter. Steward Financial Group LLC increased its holdings in shares of ServiceNow by 125.0% during the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock worth $35,000 after buying an additional 35 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of ServiceNow during the third quarter worth $35,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.