ServiceNow (NYSE:NOW) PT Lowered to $830.00 at BMO Capital Markets

ServiceNow (NYSE:NOW) had its target price lowered by BMO Capital Markets from $850.00 to $830.00 in a research note issued to investors on Thursday morning, MarketBeat reports. BMO Capital Markets currently has an outperform rating on the information technology services provider’s stock.

NOW has been the subject of a number of other research reports. Stifel Nicolaus reiterated a buy rating and set a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. Needham & Company LLC reiterated a buy rating and set a $900.00 price target on shares of ServiceNow in a research note on Tuesday, April 16th. Citigroup increased their price target on shares of ServiceNow from $896.00 to $906.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Truist Financial increased their price target on shares of ServiceNow from $700.00 to $750.00 and gave the stock a hold rating in a research note on Thursday, January 25th. Finally, Robert W. Baird increased their price target on shares of ServiceNow from $780.00 to $870.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of Moderate Buy and an average price target of $792.00.

ServiceNow Trading Up 1.0 %

NYSE NOW opened at $723.55 on Thursday. 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 firm’s fifty day moving average price is $759.21 and its 200 day moving average price is $708.95. The company has a market capitalization of $148.60 billion, a price-to-earnings ratio of 77.39, a price-to-earnings-growth ratio of 4.57 and a beta of 0.97. ServiceNow has a 12 month low of $427.68 and a 12 month high of $815.32.

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

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the transaction, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the transaction, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. In the last three months, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ServiceNow

Several hedge funds have recently added to or reduced their stakes in the business. Weatherly Asset Management L. P. increased its holdings in ServiceNow by 0.6% during the 1st quarter. Weatherly Asset Management L. P. now owns 6,409 shares of the information technology services provider’s stock valued at $4,886,000 after acquiring an additional 40 shares in the last quarter. Conning Inc. grew its holdings in shares of ServiceNow by 26.8% during the first quarter. Conning Inc. now owns 1,035 shares of the information technology services provider’s stock worth $789,000 after buying an additional 219 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of ServiceNow by 0.9% during the first quarter. Pinnacle Associates Ltd. now owns 2,132 shares of the information technology services provider’s stock worth $1,625,000 after buying an additional 19 shares in the last quarter. Sterling Investment Counsel LLC grew its holdings in shares of ServiceNow by 8.0% during the first quarter. Sterling Investment Counsel LLC now owns 1,462 shares of the information technology services provider’s stock worth $1,115,000 after buying an additional 108 shares in the last quarter. Finally, Highview Capital Management LLC DE grew its holdings in shares of ServiceNow by 4.8% during the first quarter. Highview Capital Management LLC DE now owns 1,664 shares of the information technology services provider’s stock worth $1,269,000 after buying an additional 76 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other 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.