Wall Street Zen Downgrades ServiceNow (NYSE:NOW) to Hold

ServiceNow (NYSE:NOW - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Monday.

Several other equities research analysts have also weighed in on NOW. TD Securities restated a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Citigroup boosted their target price on ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Redburn Atlantic initiated coverage on ServiceNow in a report on Wednesday, February 19th. They issued a "buy" rating for the company. Guggenheim boosted their target price on ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a report on Thursday, April 24th. Finally, Stifel Nicolaus boosted their target price on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,062.50.

ServiceNow Stock Up 1.3%

Shares of ServiceNow stock opened at $1,030.70 on Monday. The firm has a market cap of $213.34 billion, a price-to-earnings ratio of 150.91, a P/E/G ratio of 4.51 and a beta of 0.95. 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 has a 52-week low of $678.66 and a 52-week high of $1,198.09. The stock has a 50-day simple moving average of $919.44 and a 200-day simple moving average of $974.12.

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 for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the company earned $3.41 EPS. The company's revenue for the quarter was up 18.6% on a year-over-year basis. On average, equities research analysts expect that ServiceNow will post 8.93 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was 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. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Anita M. Sands sold 248 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total value of $250,266.72. Following the completion of the sale, the director now owns 10,643 shares in the company, valued at $10,740,277.02. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is owned by corporate insiders.

Institutional Trading of ServiceNow

Large investors have recently bought and sold shares of the stock. Avidian Wealth Enterprises LLC grew its holdings in ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after buying an additional 9 shares in the last quarter. Haverford Trust Co grew its holdings in ServiceNow by 0.9% in the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock valued at $936,000 after buying an additional 10 shares in the last quarter. Ascent Group LLC grew its holdings in ServiceNow by 0.5% in the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock valued at $1,628,000 after buying an additional 10 shares in the last quarter. TBH Global Asset Management LLC grew its holdings in ServiceNow by 3.8% in the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock valued at $320,000 after buying an additional 11 shares in the last quarter. Finally, Onefund LLC grew its holdings in ServiceNow by 2.0% in the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock valued at $585,000 after buying an additional 11 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

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.

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.