ServiceNow (NYSE:NOW) Trading Down 1.8% - Here's Why

Shares of ServiceNow, Inc. (NYSE:NOW - Get Free Report) dropped 1.8% on Tuesday . The stock traded as low as $1,009.40 and last traded at $1,007.99. Approximately 271,328 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,477,842 shares. The stock had previously closed at $1,026.86.

Analyst Ratings Changes

A number of analysts recently weighed in on NOW shares. Guggenheim upped their price objective on shares of ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. dropped their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Barclays set a $1,085.00 target price on ServiceNow in a research report on Wednesday, May 7th. Finally, Mizuho reduced their price target on ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average target price of $1,062.50.

ServiceNow Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $207.74 billion, a PE ratio of 146.95, a price-to-earnings-growth ratio of 4.51 and a beta of 0.95. The firm's fifty day simple moving average is $928.22 and its 200 day simple moving average is $974.13.

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

Insider Buying and Selling at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the sale, the insider now directly owns 3,000 shares in the company, valued at approximately $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock valued at $6,611,245 over the last ninety days. Corporate insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after acquiring an additional 30 shares during the period. Union Bancaire Privee UBP SA acquired a new position in ServiceNow during the 4th quarter worth about $48,802,000. Kestra Private Wealth Services LLC boosted its holdings in ServiceNow by 30.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,927 shares of the information technology services provider's stock valued at $5,223,000 after acquiring an additional 1,141 shares during the period. Savant Capital LLC grew its position in ServiceNow by 9.3% in the 4th quarter. Savant Capital LLC now owns 2,924 shares of the information technology services provider's stock valued at $3,100,000 after acquiring an additional 248 shares in the last quarter. Finally, Soltis Investment Advisors LLC increased its stake in ServiceNow by 8.3% during the fourth quarter. Soltis Investment Advisors LLC now owns 615 shares of the information technology services provider's stock worth $652,000 after purchasing an additional 47 shares during the period. 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.