ServiceNow (NYSE:NOW) Price Target Lowered to $1,025.00 at Jefferies Financial Group

ServiceNow (NYSE:NOW - Free Report) had its price objective reduced by Jefferies Financial Group from $1,250.00 to $1,025.00 in a report released on Tuesday morning, Marketbeat reports. They currently have a buy rating on the information technology services provider's stock.

NOW has been the subject of several other reports. Citigroup decreased their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company dropped their price target on shares of ServiceNow from $1,250.00 to $1,100.00 and set an "overweight" rating on the stock in a research note on Monday. Guggenheim reiterated a "sell" rating and issued a $716.00 target price on shares of ServiceNow in a report on Wednesday, January 22nd. Raymond James dropped their price target on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Finally, UBS Group cut their target price on shares of ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price of $1,057.17.

ServiceNow Trading Down 3.1 %

NOW traded down $24.48 during midday trading on Tuesday, hitting $772.18. The company's stock had a trading volume of 1,802,088 shares, compared to its average volume of 1,480,412. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market cap of $159.84 billion, a P/E ratio of 113.06, a PEG ratio of 4.51 and a beta of 1.08. The firm has a 50-day moving average price of $857.67 and a two-hundred day moving average price of $970.18. ServiceNow has a 52-week low of $637.99 and a 52-week high of $1,198.09.

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

ServiceNow declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Activity at ServiceNow

In other ServiceNow news, Director Larry Quinlan sold 415 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total value of $418,075.15. Following the sale, the director now owns 1,737 shares of the company's stock, valued at $1,749,871.17. The trade was a 19.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 2,511 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the transaction, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,384,373.88. This represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,250 shares of company stock worth $19,853,273. 0.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Several institutional investors have recently bought and sold shares of NOW. Lion Street Advisors LLC lifted its stake in shares of ServiceNow by 4.1% during the first quarter. Lion Street Advisors LLC now owns 664 shares of the information technology services provider's stock worth $529,000 after buying an additional 26 shares during the period. Bender Robert & Associates raised its position in ServiceNow by 9.7% during the first quarter. Bender Robert & Associates now owns 12,839 shares of the information technology services provider's stock worth $10,222,000 after acquiring an additional 1,131 shares during the period. Clarius Group LLC lifted its position in shares of ServiceNow by 16.0% in the first quarter. Clarius Group LLC now owns 2,141 shares of the information technology services provider's stock valued at $1,705,000 after acquiring an additional 295 shares in the last quarter. Boomfish Wealth Group LLC boosted its position in shares of ServiceNow by 1.9% during the 1st quarter. Boomfish Wealth Group LLC now owns 3,069 shares of the information technology services provider's stock valued at $2,443,000 after acquiring an additional 57 shares during the last quarter. Finally, Rakuten Securities Inc. raised its position in shares of ServiceNow by 7.6% during the 1st quarter. Rakuten Securities Inc. now owns 707 shares of the information technology services provider's stock valued at $563,000 after buying an additional 50 shares during the period. 87.18% of the stock is owned by hedge funds and other 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.