ServiceNow (NYSE:NOW) Price Target Lowered to $200.00 at Stifel Nicolaus

ServiceNow (NYSE:NOW) had its price target decreased by analysts at Stifel Nicolaus from $230.00 to $200.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Stifel Nicolaus’ price target indicates a potential upside of 40.44% from the company’s previous close.

Several other analysts have also recently issued reports on NOW. Cowen reiterated a “buy” rating on shares of ServiceNow in a research report on Friday, October 24th. Wells Fargo & Company set a $225.00 price target on shares of ServiceNow and gave the stock an “overweight” rating in a research report on Thursday. Oppenheimer reissued an “outperform” rating and issued a $230.00 price objective on shares of ServiceNow in a research note on Thursday, December 18th. JPMorgan Chase & Co. lifted their price target on ServiceNow from $204.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Barclays upped their price objective on ServiceNow from $242.00 to $245.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $218.18.

ServiceNow Trading Down 2.6%

NOW stock traded down $3.78 on Friday, reaching $142.41. The company’s stock had a trading volume of 747,292 shares, compared to its average volume of 6,720,963. ServiceNow has a 12-month low of $135.73 and a 12-month high of $239.62. The firm has a market cap of $147.87 billion, a PE ratio of 86.47, a PEG ratio of 2.59 and a beta of 0.98. The business has a fifty day simple moving average of $162.81 and a two-hundred day simple moving average of $178.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.06 and a current ratio of 1.06.

Insiders Place Their Bets

In related news, Director Lawrence Jackson sold 1,325 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $162.04, for a total transaction of $214,708.30. Following the completion of the transaction, the director directly owned 1,615 shares in the company, valued at $261,701.06. The trade was a 45.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul Fipps sold 1,525 shares of ServiceNow stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $163.51, for a total transaction of $249,352.75. Following the completion of the transaction, the insider directly owned 2,705 shares of the company’s stock, valued at $442,294.55. The trade was a 36.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 15,310 shares of company stock worth $2,533,585. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after buying an additional 30 shares during the period. Empowered Funds LLC increased its holdings in shares of ServiceNow by 6.2% in the 1st quarter. Empowered Funds LLC now owns 5,526 shares of the information technology services provider’s stock valued at $4,399,000 after acquiring an additional 324 shares during the period. Advisory Alpha LLC grew its holdings in shares of ServiceNow by 4.4% during the first quarter. Advisory Alpha LLC now owns 261 shares of the information technology services provider’s stock worth $208,000 after buying an additional 11 shares during the last quarter. Integrity Alliance LLC. purchased a new position in ServiceNow in the 1st quarter valued at $810,000. Finally, Intech Investment Management LLC increased its stake in shares of ServiceNow by 25.6% during the first quarter. Intech Investment Management LLC now owns 9,080 shares of the information technology services provider’s stock worth $7,229,000 after acquiring an additional 1,852 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.