ServiceNow (NYSE:NOW) Given New $161.00 Price Target at Capital One Financial

ServiceNow (NYSE:NOWGet Free Report) had its price objective cut by investment analysts at Capital One Financial from $188.00 to $161.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Capital One Financial‘s target price suggests a potential upside of 26.43% from the company’s current price.

Several other equities research analysts have also recently weighed in on NOW. UBS Group restated a “buy” rating on shares of ServiceNow in a research report on Wednesday, December 24th. KeyCorp reiterated an “underweight” rating on shares of ServiceNow in a research note on Friday, January 9th. Arete raised shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $200.00 price target for the company in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a report on Wednesday, October 8th. Finally, Piper Sandler reissued an “overweight” rating and issued a $200.00 target price (down previously from $230.00) on shares of ServiceNow in a report on Monday, January 5th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $214.40.

Check Out Our Latest Stock Report on ServiceNow

ServiceNow Stock Down 2.9%

NOW stock opened at $127.34 on Friday. The stock has a market cap of $132.23 billion, a price-to-earnings ratio of 76.99, a price-to-earnings-growth ratio of 2.19 and a beta of 0.98. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.13. ServiceNow has a 1-year low of $126.85 and a 1-year high of $239.62. The company’s 50 day moving average is $157.85 and its 200 day moving average is $175.84.

Insider Buying and Selling at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 2,610 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $165.42, for a total value of $431,735.76. Following the sale, the insider directly owned 15,000 shares in the company, valued at $2,481,240. The trade was a 14.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gina Mastantuono sold 2,085 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $161.60, for a total value of $336,936.00. Following the sale, the chief financial officer owned 63,215 shares in the company, valued at approximately $10,215,544. This trade represents a 3.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,310 shares of company stock valued at $2,533,585 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Kilter Group LLC bought a new position in shares of ServiceNow during the 2nd quarter worth $25,000. IAG Wealth Partners LLC lifted its holdings in shares of ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares during the last quarter. Noble Wealth Management PBC boosted its position in shares of ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 128 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in ServiceNow during the 4th quarter valued at about $26,000. Finally, Bogart Wealth LLC raised its stake in ServiceNow by 93.8% in the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

About ServiceNow

(Get Free Report)

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

Further Reading

Analyst Recommendations for ServiceNow (NYSE:NOW)

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