ServiceNow (NYSE:NOW) Stock Price Down 1.8% – Should You Sell?

Shares of ServiceNow, Inc. (NYSE:NOW) traded down 1.8% during mid-day trading on Tuesday . The stock traded as low as $1,009.40 and last traded at $1,007.99. 271,328 shares traded hands during trading, a decline of 82% from the average session volume of 1,477,842 shares. The stock had previously closed at $1,026.86.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NOW shares. Citigroup increased their price objective on ServiceNow from $1,128.00 to $1,160.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Piper Sandler decreased their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Guggenheim increased their target price on shares of ServiceNow from $716.00 to $724.00 and gave the company a “sell” rating in a report on Thursday, April 24th. The Goldman Sachs Group reissued a “buy” rating on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $1,050.00 price objective on shares of ServiceNow in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.50.

ServiceNow Stock Down 1.4%

The company’s 50-day simple moving average is $923.49 and its 200 day simple moving average is $973.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $209.54 billion, a P/E ratio of 148.45, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.41 earnings per share. Research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 428 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the completion of the sale, the director now owns 10,891 shares in the company, valued at $11,039,226.51. This represents a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the completion of the transaction, the general counsel now directly owns 4,332 shares in the company, valued at $4,431,636. This represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ServiceNow

A number of large investors have recently modified their holdings of the business. Avidian Wealth Enterprises LLC increased its holdings in shares of ServiceNow by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock valued at $527,000 after purchasing an additional 9 shares during the period. Haverford Trust Co grew its position in ServiceNow by 0.9% during the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock worth $936,000 after purchasing an additional 10 shares during the period. Ascent Group LLC raised its stake in shares of ServiceNow by 0.5% during the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after buying an additional 10 shares during the last quarter. TBH Global Asset Management LLC lifted its holdings in shares of ServiceNow by 3.8% in the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock valued at $320,000 after buying an additional 11 shares during the period. Finally, Onefund LLC raised its position in ServiceNow by 2.0% during the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider’s stock valued at $585,000 after acquiring an additional 11 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.