ServiceNow (NYSE:NOW) Trading Down 0.5%

ServiceNow, Inc. (NYSE:NOW)’s stock price was down 0.5% during mid-day trading on Wednesday . The stock traded as low as $684.26 and last traded at $689.91. Approximately 331,972 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 1,209,878 shares. The stock had previously closed at $693.33.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NOW. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Barclays raised their target price on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. UBS Group decreased their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Truist Financial raised their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Finally, JMP Securities reiterated a “market outperform” rating and set a $825.00 target price on shares of ServiceNow in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $807.28.

ServiceNow Trading Up 3.0 %

The business’s 50 day simple moving average is $754.44 and its two-hundred day simple moving average is $711.86. The stock has a market cap of $147.19 billion, a P/E ratio of 76.65, a PEG ratio of 4.31 and a beta of 0.98. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

Insider Buying and Selling

In other news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the transaction, the insider now owns 1,392 shares in the company, valued at $1,067,831.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 11,369 shares of company stock worth $8,538,300 in the last 90 days. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in ServiceNow by 5.6% during the third quarter. Commonwealth Equity Services LLC now owns 36,699 shares of the information technology services provider’s stock valued at $20,514,000 after acquiring an additional 1,946 shares during the last quarter. FinTrust Capital Advisors LLC increased its holdings in ServiceNow by 225.0% in the third quarter. FinTrust Capital Advisors LLC now owns 221 shares of the information technology services provider’s stock worth $124,000 after purchasing an additional 153 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in ServiceNow by 7.9% in the third quarter. Stratos Wealth Partners LTD. now owns 7,644 shares of the information technology services provider’s stock valued at $4,273,000 after buying an additional 557 shares during the period. Stratos Wealth Advisors LLC grew its position in shares of ServiceNow by 41.8% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 577 shares of the information technology services provider’s stock worth $323,000 after buying an additional 170 shares during the period. Finally, PFG Private Wealth Management LLC bought a new stake in shares of ServiceNow in the 3rd quarter valued at $28,000. Institutional investors own 87.18% of the company’s stock.

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.