ServiceNow (NYSE:NOW) Trading Down 0.3%

ServiceNow, Inc. (NYSE:NOW) dropped 0.3% during trading on Thursday . The company traded as low as $768.04 and last traded at $768.77. Approximately 199,762 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 1,190,285 shares. The stock had previously closed at $770.83.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NOW. KeyCorp lowered their price target on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. JMP Securities reissued a “market outperform” rating and issued a $825.00 target price on shares of ServiceNow in a report on Tuesday, May 7th. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $808.73.

ServiceNow Stock Down 2.6 %

The firm has a market capitalization of $151.39 billion, a PE ratio of 78.99, a price-to-earnings-growth ratio of 4.75 and a beta of 0.98. The firm has a 50-day moving average of $747.11 and a two-hundred day moving average of $731.44. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. On average, equities research analysts forecast that ServiceNow, Inc. will post 6.5 EPS for the current year.

Insider Activity at ServiceNow

In other news, insider Paul John Smith sold 125 shares of the stock in a transaction that occurred 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 directly owns 3,112 shares in the company, valued at approximately $2,263,606.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 917 shares of company stock valued at $690,880 in the last quarter. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Large investors have recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new stake in ServiceNow during the 1st quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in ServiceNow in the fourth quarter worth about $29,000. EntryPoint Capital LLC increased its stake in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares during the period. AdvisorNet Financial Inc raised its position in shares of 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 buying an additional 32 shares in the last quarter. Finally, Disciplined Equity Management Inc. acquired a new position in shares of ServiceNow during the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Company Profile

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.