ServiceNow (NYSE:NOW) Stock Price Down 1.9%

ServiceNow, Inc. (NYSE:NOW)’s share price dropped 1.9% on Friday . The stock traded as low as $713.47 and last traded at $717.23. Approximately 434,059 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 1,159,765 shares. The stock had previously closed at $731.36.

Wall Street Analysts Forecast Growth

NOW has been the subject of several analyst reports. Jefferies Financial Group increased their price target on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Robert W. Baird lifted their target price on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a report on Tuesday. Mizuho boosted their price target on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Barclays boosted their price target on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $780.37.

ServiceNow Stock Down 3.1 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s 50-day simple moving average is $766.17 and its two-hundred day simple moving average is $700.64. The company has a market capitalization of $145.55 billion, a price-to-earnings ratio of 85.28, a price-to-earnings-growth ratio of 4.65 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. Sell-side analysts predict that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Insider Activity

In other news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction 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 SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 1,795 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 over the last ninety days. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ServiceNow

A number of large investors have recently bought and sold shares of NOW. RB Capital Management LLC raised its stake in shares of ServiceNow by 25.2% in the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after acquiring an additional 192 shares during the period. Zions Bancorporation N.A. raised its stake in shares of ServiceNow by 17.9% in the 1st quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock valued at $487,000 after acquiring an additional 133 shares during the period. Brown Brothers Harriman & Co. raised its stake in shares of ServiceNow by 728.0% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock valued at $1,070,000 after acquiring an additional 1,689 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of ServiceNow by 9.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock valued at $195,000 after acquiring an additional 29 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of ServiceNow by 0.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock valued at $6,499,000 after acquiring an additional 86 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.