ServiceNow (NYSE:NOW) Stock Price Down 1.9%

ServiceNow, Inc. (NYSE:NOW)’s share price fell 1.9% during trading on Tuesday . The company traded as low as $699.55 and last traded at $712.83. 562,754 shares changed hands during trading, a decline of 54% from the average session volume of 1,215,567 shares. The stock had previously closed at $726.56.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NOW shares. JMP Securities reaffirmed a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a research note on Tuesday. Citigroup lifted their price objective on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. The Goldman Sachs Group lifted their target price on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. StockNews.com lowered ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Finally, Robert W. Baird lifted their price objective on shares of ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $807.88.

ServiceNow Price Performance

The firm has a fifty day moving average of $752.29 and a two-hundred day moving average of $716.34. The stock has a market capitalization of $146.50 billion, a P/E ratio of 76.15, a P/E/G ratio of 4.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06.

Insider Activity

In other news, CEO William R. Mcdermott sold 5,030 shares of the 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 directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,369 shares of company stock worth $8,538,300. 0.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sandbox Financial Partners LLC grew its stake in ServiceNow by 8.6% during the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after buying an additional 66 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of ServiceNow by 19.8% during the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after acquiring an additional 49,631 shares during the last quarter. Raymond James & Associates increased its holdings in shares of ServiceNow by 5.9% during the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after acquiring an additional 18,442 shares in the last quarter. Dohj LLC purchased a new position in shares of ServiceNow in the 4th quarter valued at approximately $913,000. Finally, Sequoia Financial Advisors LLC boosted its stake in ServiceNow by 15.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after purchasing an additional 3,438 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.