ServiceNow (NYSE:NOW) Stock Price Down 0.3%

ServiceNow, Inc. (NYSE:NOW) shares were down 0.3% on Monday . The company traded as low as $710.62 and last traded at $711.73. Approximately 351,510 shares changed hands during trading, a decline of 70% from the average daily volume of 1,164,786 shares. The stock had previously closed at $713.91.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NOW shares. The Goldman Sachs Group raised their price objective on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company raised their price objective on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Truist Financial raised their price objective on ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Citigroup raised their price objective on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, UBS Group raised their price objective on ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $780.37.

ServiceNow Trading Up 2.6 %

The company has a 50 day moving average of $762.24 and a 200 day moving average of $706.46. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm has a market cap of $152.18 billion, a price-to-earnings ratio of 88.10, a price-to-earnings-growth ratio of 4.56 and a beta of 0.97.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. ServiceNow’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 EPS. As a group, research analysts anticipate that ServiceNow, Inc. will post 6.16 EPS for the current year.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 1,795 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now owns 994 shares in the company, valued at $776,373.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul John Smith sold 1,795 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the sale, the insider now owns 994 shares of the company’s stock, valued at $776,373.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,164 shares of company stock worth $9,940,303. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several large investors have recently modified their holdings of the business. Summit Global Investments bought a new position in ServiceNow in the third quarter valued at approximately $209,000. Capital Investment Advisors LLC bought a new position in ServiceNow in the third quarter valued at approximately $459,000. Impact Partnership Wealth LLC grew its stake in ServiceNow by 672.7% in the third quarter. Impact Partnership Wealth LLC now owns 85 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 74 shares in the last quarter. Park Place Capital Corp grew its stake in ServiceNow by 9.2% in the third quarter. Park Place Capital Corp now owns 1,149 shares of the information technology services provider’s stock valued at $642,000 after purchasing an additional 97 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC grew its stake in ServiceNow by 3.4% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 2,795 shares of the information technology services provider’s stock valued at $1,562,000 after purchasing an additional 92 shares in the last quarter. 87.18% of the stock is currently owned by 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.