ServiceNow (NYSE:NOW) PT Lowered to $830.00

ServiceNow (NYSE:NOW) had its price target cut by BMO Capital Markets from $850.00 to $830.00 in a research note issued to investors on Thursday, Marketbeat reports. They currently have an outperform rating on the information technology services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus restated a buy rating and issued a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. JMP Securities restated a market outperform rating and issued a $825.00 price target on shares of ServiceNow in a research note on Tuesday, April 23rd. Needham & Company LLC restated a buy rating and issued a $900.00 price target on shares of ServiceNow in a research note on Tuesday, April 16th. Royal Bank of Canada boosted their price target on shares of ServiceNow from $840.00 to $850.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Finally, Oppenheimer boosted their price target on shares of ServiceNow from $750.00 to $800.00 and gave the stock an outperform rating in a research note on Thursday, January 18th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $807.28.

ServiceNow Stock Up 1.0 %

Shares of NYSE NOW opened at $723.55 on Thursday. The firm has a market cap of $148.60 billion, a price-to-earnings ratio of 77.39, a PEG ratio of 4.57 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow has a 52-week low of $427.68 and a 52-week high of $815.32. The business’s 50 day moving average is $759.21 and its two-hundred day moving average is $710.01.

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s 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 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 disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC purchased a new position in ServiceNow during the third quarter worth about $28,000. University of Texas Texas AM Investment Managment Co. purchased a new position in ServiceNow in the fourth quarter valued at about $29,000. AdvisorNet Financial Inc increased its holdings in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares in the last quarter. Steward Financial Group LLC increased its holdings in ServiceNow by 125.0% in the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 35 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in ServiceNow in the third quarter valued at about $35,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

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.