ServiceNow (NYSE:NOW) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of ServiceNow (NYSE:NOW) from a buy rating to a hold rating in a report released on Monday morning.

Several other equities analysts have also recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $1,150.00 price objective on shares of ServiceNow in a research note on Thursday, October 30th. Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a report on Wednesday, July 23rd. Sanford C. Bernstein restated an “outperform” rating and set a $1,093.00 price target on shares of ServiceNow in a research report on Thursday, October 30th. TD Cowen upped their price target on shares of ServiceNow from $1,200.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Zacks Research lowered ServiceNow from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,159.66.

ServiceNow Stock Down 0.3%

Shares of NYSE NOW opened at $815.18 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $169.56 billion, a PE ratio of 98.57, a P/E/G ratio of 4.11 and a beta of 0.94. ServiceNow has a one year low of $678.66 and a one year high of $1,198.09. The business’s fifty day moving average price is $908.37 and its 200-day moving average price is $946.44.

Shares of ServiceNow are scheduled to split on the morning of Friday, December 5th. The 5-1 split was announced on Wednesday, October 29th. The newly created shares will be distributed to shareholders after the closing bell on Thursday, December 4th.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.61. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.35 billion. ServiceNow had a net margin of 13.66% and a return on equity of 19.23%. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.72 earnings per share. On average, equities research analysts anticipate that ServiceNow will post 8.93 EPS for the current year.

Insider Transactions at ServiceNow

In other news, Director Anita M. Sands sold 1,097 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the completion of the transaction, the director directly owned 9,307 shares of the company’s stock, valued at approximately $8,516,928.77. This represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 522 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $827.08, for a total value of $431,735.76. Following the transaction, the insider directly owned 3,000 shares of the company’s stock, valued at $2,481,240. The trade was a 14.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 8,587 shares of company stock valued at $7,730,037. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of ServiceNow

Large investors have recently bought and sold shares of the company. Center For Asset Management LLC boosted its holdings in shares of ServiceNow by 10.5% during the 3rd quarter. Center For Asset Management LLC now owns 306 shares of the information technology services provider’s stock valued at $282,000 after buying an additional 29 shares in the last quarter. Captrust Financial Advisors boosted its stake in ServiceNow by 2.2% during the third quarter. Captrust Financial Advisors now owns 34,524 shares of the information technology services provider’s stock worth $31,772,000 after acquiring an additional 754 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in ServiceNow by 5.3% in the third quarter. Coldstream Capital Management Inc. now owns 6,165 shares of the information technology services provider’s stock worth $5,674,000 after purchasing an additional 312 shares during the period. Aspire Private Capital LLC increased its stake in shares of ServiceNow by 9.1% during the third quarter. Aspire Private Capital LLC now owns 1,328 shares of the information technology services provider’s stock valued at $1,222,000 after purchasing an additional 111 shares in the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab bought a new position in shares of ServiceNow during the third quarter valued at approximately $21,875,000. 87.18% of the stock is owned by institutional investors.

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.