ServiceNow (NYSE:NOW) Shares Gap Down to $806.47

Shares of ServiceNow, Inc. (NYSE:NOWGet Free Report) gapped down before the market opened on Monday . The stock had previously closed at $806.47, but opened at $763.50. ServiceNow shares last traded at $767.47, with a volume of 168,576 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NOW shares. Jefferies Financial Group boosted their price target on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Wells Fargo & Company boosted their price target on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Guggenheim restated a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research note on Monday. Robert W. Baird boosted their price objective on ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Finally, Wolfe Research restated an “outperform” rating and set a $830.00 price objective on shares of ServiceNow in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $812.60.

Check Out Our Latest Report on ServiceNow

ServiceNow Price Performance

The firm has a market capitalization of $152.46 billion, a P/E ratio of 79.54, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99. The business has a fifty day moving average of $734.70 and a 200-day moving average of $745.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05.

ServiceNow (NYSE:NOWGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. On average, sell-side analysts forecast that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 190 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the completion of the transaction, the insider now directly owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Christopher Bedi sold 215 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul John Smith sold 190 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the sale, the insider now owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,530 shares of company stock valued at $3,997,012. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of ServiceNow

A number of hedge funds have recently modified their holdings of the business. Carlson Capital Management acquired a new position in shares of ServiceNow in the third quarter worth $210,000. Comerica Bank acquired a new position in shares of ServiceNow in the third quarter worth $31,120,000. Deutsche Bank AG increased its stake in shares of ServiceNow by 3.4% in the third quarter. Deutsche Bank AG now owns 671,591 shares of the information technology services provider’s stock worth $375,393,000 after acquiring an additional 22,067 shares during the last quarter. Trust Co. of Vermont increased its position in ServiceNow by 8.6% during the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock worth $106,000 after buying an additional 15 shares during the last quarter. Finally, USA Financial Formulas acquired a new position in ServiceNow during the third quarter worth $222,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

About ServiceNow

(Get Free Report)

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.

Further Reading

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