ServiceNow (NYSE:NOW) Stock Rating Lowered by Wall Street Zen

Wall Street Zen downgraded shares of ServiceNow (NYSE:NOW) from a buy rating to a hold rating in a report published on Saturday.

A number of other analysts have also commented on the company. Robert W. Baird raised their price target on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Needham & Company LLC reissued a “buy” rating and set a $1,050.00 price objective on shares of ServiceNow in a research report on Tuesday, May 6th. Citigroup raised their price objective on ServiceNow from $1,128.00 to $1,160.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Friday, March 7th. Finally, Stifel Nicolaus raised their price objective on ServiceNow from $975.00 to $1,050.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,068.23.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,046.03 on Friday. The stock has a fifty day moving average of $1,003.94 and a 200 day moving average of $962.97. ServiceNow has a 52 week low of $678.66 and a 52 week high of $1,198.09. The firm has a market capitalization of $216.51 billion, a price-to-earnings ratio of 142.12, a PEG ratio of 4.80 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the firm posted $3.41 earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. As a group, research analysts expect that ServiceNow will post 8.93 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 248 shares of ServiceNow stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total value of $250,266.72. Following the completion of the sale, the director directly owned 10,643 shares in the company, valued at approximately $10,740,277.02. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the sale, the general counsel owned 4,332 shares of the company’s stock, valued at $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock worth $6,611,245 in the last three months. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Large investors have recently bought and sold shares of the business. Quarry LP bought a new stake in ServiceNow in the 4th quarter worth about $27,000. Atala Financial Inc bought a new stake in shares of ServiceNow during the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow during the 4th quarter valued at about $32,000. Bogart Wealth LLC grew its stake in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 17 shares during the period. Finally, Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow during the 1st quarter valued at about $26,000. 87.18% of the stock is currently owned by institutional investors.

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.