UBS Group Trims ServiceNow (NYSE:NOW) Target Price to $875.00

ServiceNow (NYSE:NOW) had its price target lowered by UBS Group from $920.00 to $875.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the information technology services provider’s stock.

Several other equities analysts have also recently weighed in on NOW. Citigroup raised their price target on shares of ServiceNow from $896.00 to $906.00 and gave the company a buy rating in a research report on Thursday, April 18th. JMP Securities reaffirmed a market outperform rating and issued a $825.00 price target on shares of ServiceNow in a research report on Tuesday, April 23rd. KeyCorp started coverage on shares of ServiceNow in a research report on Thursday, March 21st. They issued an overweight rating and a $1,000.00 price target on the stock. Truist Financial lifted their target price on shares of ServiceNow from $700.00 to $750.00 and gave the stock a hold rating in a research report on Thursday, January 25th. Finally, Guggenheim reissued a neutral rating on shares of ServiceNow in a research report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $792.00.

ServiceNow Price Performance

NOW stock opened at $723.55 on Thursday. ServiceNow has a 1 year low of $427.68 and a 1 year high of $815.32. The stock has a market capitalization of $148.60 billion, a PE ratio of 77.39, a price-to-earnings-growth ratio of 4.57 and a beta of 0.97. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.06. The company’s 50-day moving average is $759.21 and its 200-day moving average is $708.95.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter last year, the firm earned $0.88 EPS. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. Equities research analysts expect that ServiceNow will post 6.16 EPS for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow 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 completion of the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,164 shares of company stock worth $9,940,303. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. bought a new position in ServiceNow in the 4th quarter valued at $29,000. AdvisorNet Financial Inc boosted its holdings in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the period. Sachetta LLC bought a new position in ServiceNow in the 4th quarter valued at $35,000. PFG Private Wealth Management LLC bought a new position in ServiceNow in the 3rd quarter valued at $28,000. Finally, Disciplined Equity Management Inc. bought a new position in ServiceNow in the 4th quarter valued at $35,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Company Profile

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.