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

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

A number of other equities research analysts also recently weighed in on the stock. JMP Securities reaffirmed a market outperform rating and set a $825.00 price objective on shares of ServiceNow in a research report on Tuesday. Guggenheim restated a neutral rating on shares of ServiceNow in a research note on Monday, April 15th. The Goldman Sachs Group upped their target price on shares of ServiceNow from $800.00 to $910.00 and gave the stock a buy rating in a research report on Thursday, January 25th. Barclays increased their target price on shares of ServiceNow from $765.00 to $870.00 and gave the stock an overweight rating in a report on Tuesday, January 23rd. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $900.00 target price on shares of ServiceNow in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $782.85.

ServiceNow Stock Performance

NYSE NOW opened at $723.50 on Thursday. The stock’s 50 day simple moving average is $760.05 and its 200-day simple moving average is $706.80. 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 company has a market cap of $148.59 billion, a PE ratio of 76.60, a price-to-earnings-growth ratio of 4.72 and a beta of 0.97. ServiceNow has a 1-year low of $427.68 and a 1-year high of $815.32.

ServiceNow (NYSE:NOW) last announced 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. ServiceNow had a net margin of 20.34% and a return on equity of 14.00%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the company posted $0.88 EPS. ServiceNow’s revenue was up 25.6% compared to the same quarter last year. As a group, equities research analysts anticipate that ServiceNow will post 6.16 EPS for the current fiscal year.

Insider Activity

In other news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of ServiceNow

A number of institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in ServiceNow in the 4th quarter worth approximately $1,648,259,000. International Assets Investment Management LLC increased its position in ServiceNow by 69,354.6% in the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after buying an additional 820,465 shares during the period. FMR LLC increased its position in ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after buying an additional 595,697 shares during the period. Global Assets Advisory LLC bought a new position in shares of ServiceNow in the first quarter worth $403,034,000. Finally, Jennison Associates LLC boosted its stake in ServiceNow by 23.0% during the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock valued at $1,379,217,000 after buying an additional 461,614 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.