ServiceNow (NYSE:NOW) Price Target Lowered to $830.00 at BMO Capital Markets

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

Other equities research analysts also recently issued reports about the company. UBS Group increased their price target on ServiceNow from $885.00 to $920.00 and gave the stock a buy rating in a report on Monday, April 15th. The Goldman Sachs Group raised their target price on shares of ServiceNow from $800.00 to $910.00 and gave the stock a buy rating in a research report on Thursday, January 25th. Wells Fargo & Company increased their price objective on ServiceNow from $875.00 to $900.00 and gave the stock an overweight rating in a research note on Tuesday, April 16th. Needham & Company LLC restated a buy rating and set a $900.00 price target on shares of ServiceNow in a research note on Tuesday, April 16th. Finally, Oppenheimer raised their target price on shares of ServiceNow from $750.00 to $800.00 and gave the company an outperform rating in a research report on Thursday, January 18th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $782.85.

ServiceNow Trading Down 4.0 %

Shares of NOW stock opened at $716.25 on Thursday. The company has a market cap of $147.10 billion, a PE ratio of 76.60, a price-to-earnings-growth ratio of 4.72 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The stock’s 50 day simple moving average is $760.05 and its two-hundred day simple moving average is $706.80. ServiceNow has a 1 year low of $427.68 and a 1 year high of $815.32.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 14.00% and a net margin of 20.34%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the company earned $0.88 earnings per share. ServiceNow’s revenue was up 25.6% on a year-over-year basis. Research analysts predict that ServiceNow will post 6.16 earnings per share for the current year.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on 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 sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock valued at $9,940,303 over the last quarter. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Hedge funds and other institutional investors have recently bought and sold shares of the company. PFG Private Wealth Management LLC acquired a new stake in shares of ServiceNow during the 3rd quarter worth about $28,000. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of ServiceNow during the 4th quarter worth approximately $29,000. AdvisorNet Financial Inc increased its holdings in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Steward Financial Group LLC raised its position 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 purchasing an additional 35 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of ServiceNow in the third quarter valued at $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.