ServiceNow (NYSE:NOW) Trading Down 0.5% - Time to Sell?

ServiceNow, Inc. (NYSE:NOW - Get Free Report)'s share price fell 0.5% on Tuesday . The company traded as low as $1,013.32 and last traded at $1,020.55. 252,338 shares were traded during trading, a decline of 83% from the average session volume of 1,517,608 shares. The stock had previously closed at $1,025.75.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NOW shares. Wells Fargo & Company upped their price objective on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Citigroup upped their price target on ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. BMO Capital Markets raised their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Finally, Robert W. Baird upped their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Trading Up 0.4%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $210.95 billion, a price-to-earnings ratio of 149.49, a PEG ratio of 4.51 and a beta of 0.97. The business's 50 day moving average price is $874.78 and its 200-day moving average price is $974.74.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period last year, the business earned $3.41 earnings per share. The business's revenue was up 18.6% on a year-over-year basis. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the sale, the chief financial officer now directly owns 11,126 shares of the company's stock, valued at $10,733,252.20. This trade represents a 28.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the transaction, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,431,636. This represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,061 shares of company stock valued at $9,515,766. Corporate insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in ServiceNow by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock worth $15,522,335,000 after purchasing an additional 297,734 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after buying an additional 509,467 shares during the period. FMR LLC lifted its holdings in ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after buying an additional 272,506 shares during the period. Geode Capital Management LLC boosted its stake in ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after acquiring an additional 100,670 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in ServiceNow by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider's stock worth $2,263,519,000 after acquiring an additional 188,292 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

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.