Shares of ServiceNow, Inc. (NYSE:NOW – Get Free Report) dropped 2.6% on Monday . The company traded as low as $736.37 and last traded at $738.51. Approximately 1,357,000 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 1,198,809 shares. The stock had previously closed at $758.15.
Analysts Set New Price Targets
NOW has been the subject of a number of recent analyst reports. Robert W. Baird upped their target price on ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Citigroup lifted their target price on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. JMP Securities restated a “market outperform” rating and set a $825.00 price target on shares of ServiceNow in a report on Tuesday, May 7th. Wells Fargo & Company raised their price target on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, BMO Capital Markets cut their price objective on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Three 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $808.73.
ServiceNow Trading Down 2.6 %
The firm has a market cap of $151.39 billion, a P/E ratio of 78.99, a price-to-earnings-growth ratio of 4.63 and a beta of 0.98. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The company’s fifty day moving average price is $747.11 and its two-hundred day moving average price is $733.01.
ServiceNow (NYSE:NOW – Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. As a group, sell-side analysts predict that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.
Insider Activity at ServiceNow
In other news, insider Paul John Smith sold 125 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the sale, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 917 shares of company stock valued at $690,880 in the last three months. Corporate insiders own 0.25% of the company’s stock.
Hedge Funds Weigh In On ServiceNow
A number of large investors have recently modified their holdings of the stock. Creekmur Asset Management LLC bought a new position in ServiceNow in the 1st quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in ServiceNow in the fourth quarter valued at about $29,000. EntryPoint Capital LLC increased its position in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the period. AdvisorNet Financial Inc raised 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 worth $31,000 after purchasing an additional 32 shares during the last quarter. Finally, Disciplined Equity Management Inc. acquired a new position in ServiceNow during the 4th 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.