ServiceNow (NYSE:NOW) Shares Down 0.3%

ServiceNow, Inc. (NYSE:NOW)’s share price was down 0.3% on Thursday . The stock traded as low as $768.04 and last traded at $768.77. Approximately 199,762 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,190,285 shares. The stock had previously closed at $770.83.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NOW. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. UBS Group dropped their price objective on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wolfe Research reissued an “outperform” rating and set a $830.00 price objective on shares of ServiceNow in a research note on Friday, May 10th. Piper Sandler boosted their price objective on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research note on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $808.73.

ServiceNow Stock Performance

The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $747.63 and its 200 day moving average is $730.35. The stock has a market capitalization of $155.42 billion, a PE ratio of 82.22, a PEG ratio of 4.87 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. On average, equities research analysts predict that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 602 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the sale, the insider now owns 3,619 shares in the company, valued at approximately $2,785,725.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 917 shares of company stock valued at $690,880 in the last three months. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Hedge funds have recently modified their holdings of the business. Argonautica Private Wealth Management Inc. boosted its stake in ServiceNow by 1.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after buying an additional 13 shares during the period. Wealth Management Partners LLC boosted its stake in shares of ServiceNow by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after purchasing an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares during the period. Optas LLC boosted its stake in shares of ServiceNow by 1.7% in the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after purchasing an additional 14 shares during the period. Finally, Cedar Wealth Management LLC boosted its stake in shares of ServiceNow by 5.5% in the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after purchasing an additional 14 shares during the period. 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.