ServiceNow (NYSE:NOW) Given New $200.00 Price Target at UBS Group

ServiceNow (NYSE:NOW) had its target price trimmed by UBS Group from $230.00 to $200.00 in a research note issued to investors on Wednesday morning,MarketScreener reports.

NOW has been the topic of a number of other reports. DZ Bank raised shares of ServiceNow to a “strong-buy” rating in a research report on Thursday, December 18th. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $204.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. BTIG Research reissued a “buy” rating and issued a $200.00 price target on shares of ServiceNow in a research report on Monday. Wells Fargo & Company set a $255.00 target price on shares of ServiceNow in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $240.00 price target on shares of ServiceNow in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.16.

ServiceNow Price Performance

NYSE:NOW opened at $152.43 on Wednesday. The firm has a market capitalization of $158.28 billion, a price-to-earnings ratio of 92.16, a PEG ratio of 3.21 and a beta of 0.97. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 1.06. The business has a 50 day simple moving average of $170.36 and a 200-day simple moving average of $182.33. ServiceNow has a 1 year low of $135.73 and a 1 year high of $239.62.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 2,075 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $170.00, for a total transaction of $352,750.00. Following the sale, the chief financial officer directly owned 61,140 shares of the company’s stock, valued at $10,393,800. This trade represents a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lawrence Jackson sold 1,325 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $162.04, for a total value of $214,708.30. Following the completion of the sale, the director owned 1,615 shares in the company, valued at approximately $261,701.06. This represents a 45.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 15,310 shares of company stock valued at $2,533,585. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of ServiceNow

Several institutional investors have recently bought and sold shares of NOW. Kilter Group LLC purchased a new stake in ServiceNow in the 2nd quarter worth $25,000. IAG Wealth Partners LLC grew its position in shares of ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares during the period. Bogart Wealth LLC raised its position in shares of ServiceNow by 93.8% during the 3rd quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 15 shares during the last quarter. Wealth Watch Advisors INC purchased a new position in ServiceNow in the 3rd quarter valued at about $29,000. Finally, Global X Japan Co. Ltd. purchased a new stake in ServiceNow during the 2nd quarter worth approximately $30,000. 87.18% of the stock is owned by institutional investors and hedge funds.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.