BMO Capital Markets Lowers ServiceNow (NYSE:NOW) Price Target to $830.00

ServiceNow (NYSE:NOW) had its price objective trimmed by BMO Capital Markets from $850.00 to $830.00 in a research report sent to investors on Thursday, Marketbeat.com reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

NOW has been the subject of several other research reports. Oppenheimer lifted their price objective on ServiceNow from $750.00 to $800.00 and gave the company an outperform rating in a research report on Thursday, January 18th. JMP Securities reaffirmed a market outperform rating and issued a $825.00 price target on shares of ServiceNow in a report on Tuesday. Needham & Company LLC reissued a buy rating and set a $900.00 price objective on shares of ServiceNow in a report on Tuesday, April 16th. Truist Financial raised their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the company a hold rating in a research report on Thursday, January 25th. Finally, Citigroup upped their target price on shares of ServiceNow from $896.00 to $906.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $782.85.

ServiceNow Trading Down 4.0 %

Shares of NOW stock opened at $716.25 on Thursday. The company has a market capitalization of $147.10 billion, a P/E ratio of 76.60, a P/E/G ratio of 4.72 and a beta of 0.97. ServiceNow has a 12-month low of $427.68 and a 12-month high of $815.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $760.05 and a 200 day moving average price of $706.80.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 20.34% and a return on equity of 14.00%. ServiceNow’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. Research analysts forecast that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Paul John Smith sold 5,159 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction 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 ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several hedge funds and other institutional investors have recently modified their holdings of NOW. Sandbox Financial Partners LLC raised its holdings in shares of ServiceNow by 8.6% in the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after purchasing an additional 66 shares during the last quarter. Federated Hermes Inc. lifted its position in ServiceNow by 19.8% during the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after buying an additional 49,631 shares in the last quarter. Raymond James & Associates boosted its stake in shares of ServiceNow by 5.9% during the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after buying an additional 18,442 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of ServiceNow by 15.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock valued at $18,175,000 after acquiring an additional 3,438 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of ServiceNow by 4.7% in the fourth quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock valued at $49,560,000 after acquiring an additional 3,154 shares during the last quarter. Institutional investors and hedge funds 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.