ServiceNow (NYSE:NOW) Stock Price Down 0.4% – Time to Sell?

Shares of ServiceNow, Inc. (NYSE:NOW) traded down 0.4% on Monday . The company traded as low as $966.60 and last traded at $985.67. 1,502,276 shares traded hands during trading, a decline of 15% from the average session volume of 1,777,070 shares. The stock had previously closed at $989.48.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Oppenheimer lifted their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Stifel Nicolaus lifted their target price on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Raymond James initiated coverage on ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price for the company. Piper Sandler boosted their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Redburn Atlantic started coverage on ServiceNow in a research report on Wednesday. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Performance

The stock has a market capitalization of $203.24 billion, a PE ratio of 144.45, a PEG ratio of 4.59 and a beta of 0.99. The business has a 50 day moving average price of $1,065.18 and a 200 day moving average price of $975.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has approved a share repurchase program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 2,404 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $980.05, for a total transaction of $2,356,040.20. Following the sale, the insider now directly owns 6,244 shares of the company’s stock, valued at $6,119,432.20. This trade represents a 27.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 384 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $986.64, for a total value of $378,869.76. Following the sale, the chief executive officer now directly owns 6,614 shares in the company, valued at $6,525,636.96. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,806 shares of company stock valued at $16,065,122. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Institutional investors have recently modified their holdings of the business. Quarry LP bought a new position in ServiceNow in the fourth quarter valued at about $27,000. Atala Financial Inc bought a new position in ServiceNow in the fourth quarter valued at about $28,000. Truvestments Capital LLC bought a new position in ServiceNow in the third quarter valued at about $30,000. LFA Lugano Financial Advisors SA bought a new position in ServiceNow in the fourth quarter valued at about $32,000. Finally, FPC Investment Advisory Inc. lifted its holdings in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares during the period. 87.18% of the stock is 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.