ServiceNow (NYSE:NOW) Given New $1,000.00 Price Target at UBS Group

ServiceNow (NYSE:NOW - Get Free Report) had its price target reduced by equities research analysts at UBS Group from $1,250.00 to $1,000.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the information technology services provider's stock. UBS Group's price objective points to a potential upside of 24.41% from the stock's previous close.

A number of other analysts have also recently weighed in on NOW. Robert W. Baird cut their price target on ServiceNow from $1,250.00 to $1,200.00 and set an "outperform" rating on the stock in a research note on Thursday, January 30th. Guggenheim reiterated a "sell" rating and issued a $716.00 price target on shares of ServiceNow in a research note on Wednesday, January 22nd. William Blair reissued an "outperform" rating on shares of ServiceNow in a report on Friday. JMP Securities restated a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. Finally, KeyCorp downgraded shares of ServiceNow from an "overweight" rating to a "sector weight" rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,118.03.

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ServiceNow Trading Up 2.5 %

NYSE:NOW traded up $19.97 on Tuesday, reaching $803.80. 723,108 shares of the company's stock were exchanged, compared to its average volume of 1,728,227. The firm has a market capitalization of $165.58 billion, a price-to-earnings ratio of 118.09, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $1,011.72 and a 200-day moving average of $985.64.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, analysts expect that ServiceNow will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a share repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at ServiceNow

In other news, CFO Gina Mastantuono sold 4,442 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the transaction, the chief financial officer now owns 11,126 shares of the company's stock, valued at $10,733,252.20. This represents a 28.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 1,263 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,351 shares of company stock valued at $20,050,076. Company insiders own 0.25% of the company's stock.

Institutional Trading of ServiceNow

Institutional investors have recently made changes to their positions in the stock. Avidian Wealth Enterprises LLC raised its holdings in shares of ServiceNow by 1.8% in the 4th 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 period. Redhawk Wealth Advisors Inc. raised its holdings in ServiceNow by 2.2% in the fourth 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 period. Institute for Wealth Management LLC. boosted its position in ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock worth $2,779,000 after purchasing an additional 11 shares during the period. TBH Global Asset Management LLC increased 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 purchasing an additional 11 shares in the last quarter. Finally, Onefund LLC raised its position in ServiceNow by 2.0% in the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock valued at $585,000 after purchasing an additional 11 shares during the period. 87.18% of the stock is owned by hedge funds and other 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.

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