ServiceNow (NYSE:NOW) Downgraded by Wall Street Zen to “Hold”

ServiceNow (NYSE:NOW) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC upped their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $1,200.00 price objective on shares of ServiceNow in a report on Thursday, October 30th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,250.00 price objective on shares of ServiceNow in a research note on Thursday, October 30th. Jefferies Financial Group lifted their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, UBS Group increased their price target on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,159.66.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $849.38 on Monday. The firm’s 50 day moving average is $914.97 and its two-hundred day moving average is $949.35. ServiceNow has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $176.67 billion, a P/E ratio of 102.71, a P/E/G ratio of 4.11 and a beta of 0.94.

Shares of ServiceNow are going to split on the morning of Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly created shares will be issued to shareholders after the market closes on Thursday, December 4th.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 29th. The information technology services provider reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.61. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.35 billion. ServiceNow had a return on equity of 19.23% and a net margin of 13.66%.The company’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.72 earnings per share. Research analysts forecast that ServiceNow will post 8.93 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 1,097 shares of ServiceNow stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the completion of the transaction, the director directly owned 9,307 shares in the company, valued at $8,516,928.77. This represents a 10.54% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 11,785 shares of company stock valued at $10,679,936. Company insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kilter Group LLC purchased a new stake in shares of ServiceNow during the second quarter worth $25,000. IAG Wealth Partners LLC raised its position in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 18 shares in the last quarter. Bogart Wealth LLC lifted its stake in ServiceNow by 93.8% in the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 15 shares during the last quarter. Wealth Watch Advisors INC acquired a new position in shares of ServiceNow during the 3rd quarter worth $29,000. Finally, Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow in the 2nd quarter valued at $30,000. 87.18% of the stock is owned by hedge funds and other 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.