ServiceNow (NYSE:NOW) was downgraded by equities researchers at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research report issued on Tuesday, Marketbeat reports. They currently have a $138.00 price target on the information technology services provider’s stock. J P Morgan Chase & Co’s target price suggests a potential upside of 6.56% from the company’s current price.
Several other analysts have also issued reports on the company. UBS upped their target price on ServiceNow from $128.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research lowered ServiceNow from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Mizuho reiterated a “buy” rating on shares of ServiceNow in a report on Monday, October 16th. BMO Capital Markets reiterated a “buy” rating and set a $127.00 target price on shares of ServiceNow in a report on Friday, October 13th. Finally, Moffett Nathanson started coverage on ServiceNow in a report on Wednesday, September 6th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-eight have assigned a buy rating and three have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $132.17.
Shares of ServiceNow (NYSE:NOW) traded up $3.33 during trading on Tuesday, hitting $129.50. The stock had a trading volume of 1,910,000 shares, compared to its average volume of 1,440,000. ServiceNow has a 12 month low of $73.66 and a 12 month high of $130.05. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.66 and a current ratio of 1.66.
In other news, Director Frank Slootman sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $117.17, for a total value of $17,575,500.00. Following the transaction, the director now owns 216,535 shares of the company’s stock, valued at $25,371,405.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederic B. Luddy sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $120.82, for a total value of $6,041,000.00. Following the completion of the transaction, the director now directly owns 29,990 shares in the company, valued at approximately $3,623,391.80. The disclosure for this sale can be found here. Insiders sold 660,174 shares of company stock worth $80,951,050 in the last 90 days. Corporate insiders own 3.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC grew its position in shares of ServiceNow by 1.1% in the third quarter. Parametric Portfolio Associates LLC now owns 135,944 shares of the information technology services provider’s stock valued at $15,977,000 after purchasing an additional 1,528 shares during the last quarter. IFM Investors Pty Ltd acquired a new position in shares of ServiceNow in the third quarter valued at approximately $514,000. Insight Capital Research & Management Inc. acquired a new position in shares of ServiceNow in the third quarter valued at approximately $3,584,000. Neuberger Berman Group LLC grew its position in shares of ServiceNow by 0.5% in the third quarter. Neuberger Berman Group LLC now owns 234,855 shares of the information technology services provider’s stock valued at $27,603,000 after purchasing an additional 1,252 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of ServiceNow by 4.8% in the third quarter. California Public Employees Retirement System now owns 327,827 shares of the information technology services provider’s stock valued at $38,530,000 after purchasing an additional 14,927 shares during the last quarter.
About ServiceNow
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
