ServiceNow (NYSE:NOW) Stock Price Down 0.3%

ServiceNow, Inc. (NYSE:NOW)’s stock price fell 0.3% on Monday . The stock traded as low as $713.52 and last traded at $721.57. 205,805 shares changed hands during trading, a decline of 83% from the average session volume of 1,203,861 shares. The stock had previously closed at $723.55.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NOW. Barclays lifted their target price on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. KeyCorp reduced their price objective on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research report on Thursday. UBS Group reduced their price objective on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research report on Thursday. Needham & Company LLC restated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research report on Thursday. Finally, Oppenheimer upped their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $807.28.

ServiceNow Trading Down 0.4 %

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 company has a market cap of $147.94 billion, a PE ratio of 77.13, a price-to-earnings-growth ratio of 4.83 and a beta of 0.97. The company’s 50 day simple moving average is $759.21 and its two-hundred day simple moving average is $710.01.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated 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 owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul John Smith sold 5,159 shares of the stock in a transaction dated 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 directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. 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 over the last 90 days. 0.25% of the stock is owned by company insiders.

Institutional Trading of ServiceNow

Several hedge funds have recently made changes to their positions in NOW. Norges Bank acquired a new stake in ServiceNow in the fourth quarter valued at approximately $1,648,259,000. International Assets Investment Management LLC raised its holdings in ServiceNow by 69,354.6% during the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after purchasing an additional 820,465 shares in the last quarter. FMR LLC raised its holdings in ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in ServiceNow during the first quarter worth approximately $403,034,000. Finally, Jennison Associates LLC raised its holdings in ServiceNow by 23.0% during the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock worth $1,379,217,000 after purchasing an additional 461,614 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

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.