ServiceNow (NYSE:NOW) Trading Down 0.7% - Time to Sell?

Shares of ServiceNow, Inc. (NYSE:NOW - Get Free Report) were down 0.7% during mid-day trading on Monday . The company traded as low as $944.30 and last traded at $938.41. Approximately 639,654 shares were traded during trading, a decline of 57% from the average daily volume of 1,501,362 shares. The stock had previously closed at $945.26.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research reports. Truist Financial lowered their price target on shares of ServiceNow from $1,100.00 to $950.00 and set a "hold" rating for the company in a report on Monday, March 31st. Scotiabank raised their price target on ServiceNow from $1,050.00 to $1,075.00 and gave the company a "sector outperform" rating in a report on Thursday. Oppenheimer boosted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Royal Bank of Canada raised their target price on shares of ServiceNow from $975.00 to $1,060.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $1,003.00 price objective on shares of ServiceNow in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,032.94.

ServiceNow Price Performance

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $194.44 billion, a P/E ratio of 137.46, a P/E/G ratio of 4.51 and a beta of 1.08. The company has a 50 day moving average price of $838.68 and a 200 day moving average price of $967.87.

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

ServiceNow declared that its board has approved a stock repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans 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 business'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 sale, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now directly 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. Over the last quarter, insiders have sold 20,250 shares of company stock worth $19,853,273. Company insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On ServiceNow

Hedge funds have recently added to or reduced their stakes in the business. Avidian Wealth Enterprises LLC grew its stake in shares of ServiceNow by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock worth $527,000 after purchasing an additional 9 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in shares of ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $487,000 after buying an additional 10 shares during the last quarter. Institute for Wealth Management LLC. increased its stake in shares of ServiceNow by 0.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock valued at $2,779,000 after buying an additional 11 shares during the period. TBH Global Asset Management LLC raised its position in shares of ServiceNow by 3.8% during the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after acquiring an additional 11 shares during the last quarter. Finally, Onefund LLC lifted its stake in shares of ServiceNow by 2.0% in the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after acquiring an additional 11 shares during the period. 87.18% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.