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

ServiceNow (NYSE:NOW) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Monday.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company set a $1,275.00 price target on ServiceNow in a research report on Thursday, October 30th. UBS Group raised their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Raymond James Financial upped their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Oppenheimer reiterated an “outperform” rating and set a $1,150.00 price target (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Finally, Citigroup boosted their price objective on shares of ServiceNow from $1,234.00 to $1,253.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,159.66.

ServiceNow Trading Down 2.1%

Shares of NOW opened at $818.10 on Monday. ServiceNow has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a market capitalization of $170.17 billion, a P/E ratio of 98.92, a P/E/G ratio of 4.11 and a beta of 0.94. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm’s 50 day simple moving average is $910.56 and its 200 day simple moving average is $947.36.

ServiceNow shares are going to split on Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly issued shares will be payable to shareholders after the closing bell on Thursday, December 4th.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 29th. The information technology services provider reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.61. ServiceNow had a net margin of 13.66% and a return on equity of 19.23%. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter last year, the company posted $3.72 EPS. The business’s quarterly revenue was up 21.8% on a year-over-year basis. Sell-side analysts forecast that ServiceNow will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 1,097 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the sale, the director owned 9,307 shares of the company’s stock, valued at $8,516,928.77. This represents a 10.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 7,330 shares of company stock valued at $6,688,244. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of ServiceNow

Institutional investors have recently modified their holdings of the company. Haverford Trust Co lifted its holdings in ServiceNow by 0.9% in the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock worth $936,000 after buying an additional 10 shares during the period. Ascent Group LLC raised its holdings in shares of ServiceNow by 0.5% during the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock valued at $1,628,000 after acquiring an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. lifted its stake in ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $366,000 after acquiring an additional 11 shares during the period. Integrated Investment Consultants LLC boosted its holdings in ServiceNow by 2.5% in the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after acquiring an additional 11 shares in the last quarter. Finally, one8zero8 LLC boosted its holdings in ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after acquiring an additional 11 shares in the last quarter. 87.18% of the stock is currently 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.