ServiceNow (NYSE:NOW) Shares Down 0.6%

ServiceNow, Inc. (NYSE:NOW - Get Free Report)'s share price traded down 0.6% during mid-day trading on Tuesday . The stock traded as low as $721.23 and last traded at $725.95. 221,182 shares traded hands during trading, a decline of 82% from the average session volume of 1,204,963 shares. The stock had previously closed at $730.12.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company an "overweight" rating in a report on Tuesday, April 16th. Stifel Nicolaus reiterated a "buy" rating and set a $820.00 target price on shares of ServiceNow in a research report on Wednesday, March 20th. Wolfe Research reiterated an "outperform" rating and set a $830.00 target price on shares of ServiceNow in a research report on Friday. BMO Capital Markets cut their target price on shares of ServiceNow from $850.00 to $830.00 and set an "outperform" rating on the stock in a research report on Thursday, April 25th. Finally, StockNews.com downgraded shares of ServiceNow from a "buy" rating to a "hold" rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and a consensus target price of $808.73.

ServiceNow Stock Performance

The company has a market cap of $147.93 billion, a P/E ratio of 77.30, a price-to-earnings-growth ratio of 4.58 and a beta of 0.98. The company's 50-day moving average is $747.71 and its two-hundred day moving average is $722.66. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 125 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at $2,263,606.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the company'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 sale, the chief executive officer now directly owns 17,177 shares of the company's stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul John Smith sold 125 shares of the company's stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the sale, the insider now directly owns 3,112 shares in the company, valued at $2,263,606.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,504 shares of company stock worth $7,860,589. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Institutional investors and hedge funds have recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow in the fourth quarter worth about $29,000. EntryPoint Capital LLC increased its position in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider's stock worth $30,000 after purchasing an additional 39 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider's stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Disciplined Equity Management Inc. bought a new position in shares of ServiceNow in the fourth quarter worth approximately $35,000. Finally, Sachetta LLC bought a new position in shares of ServiceNow in the fourth quarter worth approximately $35,000. 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.