ServiceNow (NYSE:NOW) Stock Price Down 1.6% – Time to Sell?

ServiceNow, Inc. (NYSE:NOW) traded down 1.6% on Tuesday . The stock traded as low as $151.63 and last traded at $154.1780. 12,078,910 shares were traded during trading, an increase of 44% from the average session volume of 8,360,257 shares. The stock had previously closed at $156.68.

Wall Street Analyst Weigh In

NOW has been the subject of a number of analyst reports. Macquarie assumed coverage on ServiceNow in a research report on Tuesday, November 25th. They issued a “neutral” rating and a $172.00 price target for the company. 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. KeyCorp cut shares of ServiceNow from a “sector weight” rating to an “underweight” rating and set a $155.00 target price on the stock. in a research note on Monday, December 15th. BMO Capital Markets dropped their target price on shares of ServiceNow from $232.00 to $230.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Finally, BTIG Research restated a “buy” rating and issued a $200.00 price target on shares of ServiceNow in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $224.16.

ServiceNow Price Performance

The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $158.28 billion, a PE ratio of 92.16, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The stock’s 50-day moving average is $170.36 and its two-hundred day moving average is $182.33.

Insider Buying and Selling at ServiceNow

In related news, insider Paul Fipps sold 1,525 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $163.51, for a total value of $249,352.75. Following the completion of the sale, the insider owned 2,705 shares in the company, valued at approximately $442,294.55. The trade was a 36.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 470 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $165.42, for a total value of $77,745.52. Following the completion of the sale, the insider owned 15,135 shares of the company’s stock, valued at $2,503,571.16. This represents a 3.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 15,310 shares of company stock valued at $2,533,585. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Several hedge funds have recently modified their holdings of NOW. Keel Point LLC lifted its holdings in ServiceNow by 17.2% during the third quarter. Keel Point LLC now owns 1,249 shares of the information technology services provider’s stock worth $1,149,000 after buying an additional 183 shares during the period. Mirabella Financial Services LLP boosted its holdings in ServiceNow by 44.5% in the third quarter. Mirabella Financial Services LLP now owns 7,514 shares of the information technology services provider’s stock worth $6,907,000 after acquiring an additional 2,313 shares in the last quarter. Hudson Bay Capital Management LP grew its position in ServiceNow by 7,464.2% during the 3rd quarter. Hudson Bay Capital Management LP now owns 16,054 shares of the information technology services provider’s stock worth $14,774,000 after purchasing an additional 16,272 shares during the last quarter. Saranac Partners Ltd purchased a new stake in shares of ServiceNow during the third quarter valued at $4,030,000. Finally, IFP Advisors Inc grew its stake in ServiceNow by 2.4% during the 3rd quarter. IFP Advisors Inc now owns 4,910 shares of the information technology services provider’s stock valued at $4,519,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Company Profile

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.