ServiceNow (NYSE:NOW) Price Target Cut to $875.00 by Analysts at UBS Group

ServiceNow (NYSE:NOW) had its price target reduced by UBS Group from $920.00 to $875.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

NOW has been the subject of several other research reports. Guggenheim reissued a neutral rating on shares of ServiceNow in a research note on Monday, April 15th. Piper Sandler boosted their target price on ServiceNow from $750.00 to $830.00 and gave the stock an overweight rating in a research note on Thursday, January 25th. Citigroup boosted their target price on shares of ServiceNow from $896.00 to $906.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Truist Financial upped their price objective on ServiceNow from $700.00 to $750.00 and gave the stock a hold rating in a report on Thursday, January 25th. Finally, Needham & Company LLC reiterated a buy rating and issued a $900.00 price objective on shares of ServiceNow in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $782.85.

ServiceNow Trading Up 1.0 %

NOW opened at $723.50 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50-day moving average is $760.05 and its 200 day moving average is $706.80. ServiceNow has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The firm has a market capitalization of $148.59 billion, a PE ratio of 76.60, a P/E/G ratio of 4.72 and a beta of 0.97.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 20.34% and a return on equity of 14.00%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The company’s revenue was up 25.6% on a year-over-year basis. As a group, research analysts predict that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the stock in a transaction on 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 transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other ServiceNow news, 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 transaction, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’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 owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock valued at $9,940,303 in the last ninety days. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Several large investors have recently added to or reduced their stakes in NOW. Argonautica Private Wealth Management Inc. grew its stake in ServiceNow by 1.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after purchasing an additional 13 shares in the last quarter. Wealth Management Partners LLC raised 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 buying an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group increased its holdings in ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 14 shares during the period. Optas LLC boosted its holdings in shares of ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after purchasing an additional 14 shares in the last quarter. Finally, Trust Co. of Vermont raised its holdings in ServiceNow by 8.6% during the 3rd quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after buying an additional 15 shares during 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.