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

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

Other analysts have also issued research reports about the company. Mizuho lifted their price objective on ServiceNow from $750.00 to $820.00 and gave the stock a buy rating in a report on Thursday, January 25th. Oppenheimer raised their target price on ServiceNow from $750.00 to $800.00 and gave the stock an outperform rating in a research report on Thursday, January 18th. Royal Bank of Canada raised their target price on ServiceNow from $840.00 to $850.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. KeyCorp cut their target price on ServiceNow from $1,000.00 to $950.00 and set an overweight rating for the company in a research report on Thursday. Finally, UBS Group cut their price objective on ServiceNow from $920.00 to $875.00 and set a buy rating for the company in a research report on Thursday. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $807.28.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $723.55 on Friday. ServiceNow has a 1-year low of $427.68 and a 1-year high of $815.32. The firm has a market capitalization of $148.60 billion, a PE ratio of 77.39, a PEG ratio of 4.57 and a beta of 0.97. The business’s 50 day moving average is $759.21 and its 200-day moving average is $710.01. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.18.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow 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 directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 over the last 90 days. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after purchasing an additional 122,577 shares during the period. FMR LLC grew its stake in ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after acquiring an additional 595,697 shares during the period. Jennison Associates LLC grew its stake in ServiceNow by 2.2% in the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after acquiring an additional 53,719 shares during the period. Norges Bank acquired a new position in ServiceNow in the fourth quarter valued at about $1,648,259,000. Finally, Massachusetts Financial Services Co. MA grew its stake in ServiceNow by 3.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after acquiring an additional 81,028 shares during the period. 87.18% of the stock is 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.