ServiceNow (NYSE:NOW) Price Target Lowered to $161.00 at Capital One Financial

ServiceNow (NYSE:NOWGet Free Report) had its price objective reduced by analysts at Capital One Financial from $188.00 to $161.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Capital One Financial‘s target price would indicate a potential upside of 26.43% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Mizuho set a $210.00 price target on shares of ServiceNow in a research report on Tuesday, December 16th. Stifel Nicolaus cut their price target on shares of ServiceNow from $230.00 to $200.00 and set a “buy” rating for the company in a report on Friday, January 9th. UBS Group reaffirmed a “buy” rating on shares of ServiceNow in a research note on Wednesday, December 24th. Piper Sandler reissued an “overweight” rating and set a $200.00 target price (down previously from $230.00) on shares of ServiceNow in a research note on Monday, January 5th. Finally, Citigroup reaffirmed a “buy” rating on shares of ServiceNow in a research report on Monday, January 12th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued 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 currently has an average rating of “Moderate Buy” and a consensus price target of $214.40.

View Our Latest Research Report on ServiceNow

ServiceNow Trading Down 2.9%

Shares of ServiceNow stock opened at $127.34 on Friday. The company has a market cap of $132.23 billion, a P/E ratio of 76.99, a price-to-earnings-growth ratio of 2.19 and a beta of 0.98. The firm has a 50-day simple moving average of $157.85 and a two-hundred day simple moving average of $175.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.06 and a current ratio of 1.06. ServiceNow has a fifty-two week low of $126.85 and a fifty-two week high of $239.62.

Insider Buying and Selling

In related news, CFO Gina Mastantuono sold 2,085 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $161.60, for a total value of $336,936.00. Following the completion of the sale, the chief financial officer directly owned 63,215 shares of the company’s stock, valued at $10,215,544. This represents a 3.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $168.50, for a total value of $235,894.40. Following the transaction, the insider owned 25,270 shares in the company, valued at $4,257,893.92. This represents a 5.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,310 shares of company stock valued at $2,533,585 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Large investors have recently modified their holdings of the company. Clarus Group Inc. boosted its holdings in shares of ServiceNow by 368.1% in the fourth quarter. Clarus Group Inc. now owns 2,790 shares of the information technology services provider’s stock valued at $427,000 after acquiring an additional 2,194 shares in the last quarter. Marino Stram & Associates LLC grew its stake in shares of ServiceNow by 383.9% during the 4th quarter. Marino Stram & Associates LLC now owns 1,800 shares of the information technology services provider’s stock worth $276,000 after purchasing an additional 1,428 shares during the period. Sharp Wealth Advisory LLC increased its holdings in shares of ServiceNow by 400.0% in the 4th quarter. Sharp Wealth Advisory LLC now owns 1,810 shares of the information technology services provider’s stock valued at $277,000 after purchasing an additional 1,448 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in shares of ServiceNow by 447.6% in the fourth quarter. Perigon Wealth Management LLC now owns 36,595 shares of the information technology services provider’s stock valued at $5,606,000 after purchasing an additional 29,912 shares during the period. Finally, Balboa Wealth Partners boosted its holdings in ServiceNow by 381.5% during the fourth quarter. Balboa Wealth Partners now owns 5,345 shares of the information technology services provider’s stock worth $819,000 after buying an additional 4,235 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

ServiceNow Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.