ServiceNow (NYSE:NOW) Stock Rating Lowered by StockNews.com

ServiceNow (NYSE:NOW) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Several other equities analysts have also recently issued reports on the company. Truist Financial upped their price objective on ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. KeyCorp lowered their price objective on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a research report on Thursday. William Blair reissued an “outperform” rating on shares of ServiceNow in a report on Thursday. Royal Bank of Canada increased their price target on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group increased their price target on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $792.00.

ServiceNow Stock Performance

Shares of NOW opened at $723.55 on Friday. The stock has a market cap of $148.60 billion, a P/E ratio of 77.39, a P/E/G ratio of 4.53 and a beta of 0.97. ServiceNow has a 52 week low of $427.68 and a 52 week high of $815.32. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $759.21 and its 200-day moving average price is $708.95.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (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 analysts’ expectations of $2.40 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 EPS. Equities research analysts anticipate that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was 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 in the company, valued at $12,935,655.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Paul John Smith sold 5,159 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the 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 completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Sandbox Financial Partners LLC lifted its holdings in shares of ServiceNow by 8.6% in the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after acquiring an additional 66 shares during the last quarter. Federated Hermes Inc. lifted its stake in ServiceNow by 19.8% in the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after purchasing an additional 49,631 shares during the last quarter. Raymond James & Associates lifted its stake in ServiceNow by 5.9% in the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after purchasing an additional 18,442 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in ServiceNow by 15.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after purchasing an additional 3,438 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in ServiceNow by 4.7% in the fourth quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock worth $49,560,000 after purchasing an additional 3,154 shares during the last quarter. 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.