ServiceNow (NYSE:NOW) Downgraded by StockNews.com

StockNews.com lowered shares of ServiceNow (NYSE:NOW) from a buy rating to a hold rating in a report issued on Friday morning.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus restated a buy rating and set a $820.00 target price on shares of ServiceNow in a research note on Wednesday, March 20th. The Goldman Sachs Group raised their target price on shares of ServiceNow from $800.00 to $910.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Wells Fargo & Company raised their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock an overweight rating in a research note on Tuesday, April 16th. KeyCorp lowered their price target on shares of ServiceNow from $1,000.00 to $950.00 and set an overweight rating on the stock in a research report on Thursday. Finally, Robert W. Baird raised their price target on shares of ServiceNow from $780.00 to $870.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of Moderate Buy and an average price target of $782.85.

ServiceNow Stock Performance

Shares of NOW stock opened at $722.94 on Friday. The company has a fifty day moving average price of $759.21 and a two-hundred day moving average price of $707.90. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. The stock has a market cap of $148.48 billion, a P/E ratio of 77.32, a P/E/G ratio of 4.53 and a beta of 0.97. ServiceNow has a one year low of $427.68 and a one year high of $815.32.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. ServiceNow’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 EPS. As a group, equities analysts predict that ServiceNow will post 6.16 EPS for the current year.

Insider Activity

In other news, CEO William R. Mcdermott sold 5,030 shares of the firm’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 value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow 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 sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last three months, insiders have sold 13,164 shares of company stock worth $9,940,303. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB lifted its position in shares of ServiceNow by 3.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 59,360 shares of the information technology services provider’s stock worth $33,180,000 after purchasing an additional 1,904 shares during the period. Zullo Investment Group Inc. lifted its position in shares of ServiceNow by 3.1% in the 3rd quarter. Zullo Investment Group Inc. now owns 838 shares of the information technology services provider’s stock worth $468,000 after purchasing an additional 25 shares during the period. U.S. Capital Wealth Advisors LLC lifted its position in shares of ServiceNow by 7.8% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 513 shares of the information technology services provider’s stock worth $287,000 after purchasing an additional 37 shares during the period. Slow Capital Inc. acquired a new position in shares of ServiceNow in the 3rd quarter worth approximately $1,963,000. Finally, Lineweaver Wealth Advisors LLC acquired a new position in shares of ServiceNow in the 3rd quarter worth approximately $361,000. 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.