ServiceNow (NYSE:NOW) Given New $200.00 Price Target at Oppenheimer

ServiceNow (NYSE:NOW) had its target price cut by research analysts at Oppenheimer from $230.00 to $200.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the information technology services provider’s stock. Oppenheimer’s price target points to a potential upside of 43.60% from the company’s previous close.

Several other research analysts have also commented on the company. Zacks Research lowered ServiceNow from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $240.00 target price on shares of ServiceNow in a research report on Monday, October 27th. Barclays increased their price target on shares of ServiceNow from $242.00 to $245.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Royal Bank Of Canada restated an “outperform” rating and issued a $195.00 price objective (down previously from $240.00) on shares of ServiceNow in a report on Monday, January 5th. Finally, Morgan Stanley set a $263.00 target price on shares of ServiceNow and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $215.97.

ServiceNow Trading Down 2.4%

NOW traded down $3.36 during trading hours on Tuesday, reaching $139.28. The company’s stock had a trading volume of 2,177,462 shares, compared to its average volume of 7,849,110. The stock has a market cap of $144.62 billion, a PE ratio of 84.47, a P/E/G ratio of 2.44 and a beta of 0.98. ServiceNow has a fifty-two week low of $135.73 and a fifty-two week high of $239.62. The business’s 50-day moving average is $161.17 and its 200-day moving average is $177.65. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 1.06.

Insider Transactions at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $161.60, for a total transaction of $242,400.00. Following the transaction, the director owned 47,930 shares in the company, valued at $7,745,488. This trade represents a 3.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Fipps sold 1,525 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $163.51, for a total value of $249,352.75. Following the completion of the sale, the insider owned 2,705 shares of the company’s stock, valued at approximately $442,294.55. This represents a 36.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 15,310 shares of company stock worth $2,533,585. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several large investors have recently modified their holdings of NOW. Brighton Jones LLC lifted its stake in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after acquiring an additional 30 shares during the period. Modern Wealth Management LLC increased its stake in shares of ServiceNow by 16.9% during the first quarter. Modern Wealth Management LLC now owns 402 shares of the information technology services provider’s stock worth $320,000 after acquiring an additional 58 shares during the period. Parallel Advisors LLC raised its holdings in ServiceNow by 6.9% during the second quarter. Parallel Advisors LLC now owns 5,704 shares of the information technology services provider’s stock worth $5,864,000 after purchasing an additional 370 shares in the last quarter. Canandaigua National Bank & Trust Co. lifted its position in ServiceNow by 26.3% in the second quarter. Canandaigua National Bank & Trust Co. now owns 1,239 shares of the information technology services provider’s stock valued at $1,274,000 after purchasing an additional 258 shares during the period. Finally, Everpar Advisors LLC purchased a new stake in ServiceNow in the 2nd quarter valued at approximately $331,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.