ServiceNow (NYSE:NOW) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of ServiceNow (NYSE:NOW) from a buy rating to a hold rating in a research report sent to investors on Friday.

A number of other equities research analysts also recently issued reports on NOW. Mizuho increased their target price on shares of ServiceNow from $750.00 to $820.00 and gave the stock a buy rating in a research report on Thursday, January 25th. Citigroup increased 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. Oppenheimer increased their target price 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. William Blair restated an outperform rating on shares of ServiceNow in a report on Thursday. Finally, Morgan Stanley raised their price target on shares of ServiceNow from $814.00 to $830.00 and gave the company an overweight rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of Moderate Buy and a consensus target price of $782.85.

ServiceNow Trading Up 0.9 %

Shares of NYSE:NOW opened at $722.94 on Friday. The stock has a market capitalization of $148.48 billion, a price-to-earnings ratio of 77.32, a PEG ratio of 4.53 and a beta of 0.97. ServiceNow has a 1-year low of $427.68 and a 1-year high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05. The company has a 50 day moving average price of $759.21 and a 200 day moving average price of $707.90.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 EPS. On average, research analysts anticipate that ServiceNow will post 6.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Paul John Smith sold 1,795 shares of ServiceNow stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow 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 in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 in the last ninety days. Insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Institutional investors have recently made changes to their positions in the business. PFG Private Wealth Management LLC acquired a new stake in shares of ServiceNow during the 3rd quarter valued at about $28,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow during the 4th quarter valued at about $29,000. AdvisorNet Financial Inc lifted its holdings in ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Steward Financial Group LLC lifted its holdings in ServiceNow by 125.0% during the 3rd quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 35 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in ServiceNow during the 3rd quarter valued at about $35,000. 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.