Stifel Nicolaus Lowers ServiceNow (NYSE:NOW) Price Target to $200.00

ServiceNow (NYSE:NOW) had its price objective decreased by research analysts at Stifel Nicolaus from $230.00 to $200.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Stifel Nicolaus’ price target suggests a potential upside of 40.44% from the company’s current price.

Other analysts have also issued research reports about the stock. Morgan Stanley set a $263.00 price target on shares of ServiceNow and gave the company an “overweight” rating in a report on Thursday, October 30th. Wells Fargo & Company set a $225.00 price objective on ServiceNow and gave the stock an “overweight” rating in a report on Thursday. KeyCorp cut shares of ServiceNow from a “sector weight” rating to an “underweight” rating and set a $155.00 target price for the company. in a research report on Monday, December 15th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $218.60 price objective on shares of ServiceNow in a report on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $218.18.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $3.78 during mid-day trading on Friday, reaching $142.41. 747,292 shares of the stock were exchanged, compared to its average volume of 6,720,963. The firm has a 50-day simple moving average of $162.81 and a 200 day simple moving average of $178.76. ServiceNow has a fifty-two week low of $135.73 and a fifty-two week high of $239.62. The company has a market cap of $147.87 billion, a price-to-earnings ratio of 86.47, a price-to-earnings-growth ratio of 2.59 and a beta of 0.98. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.13.

Insider Buying and Selling

In related news, Vice Chairman Nicholas Tzitzon sold 2,610 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $165.42, for a total transaction of $431,735.76. Following the sale, the insider owned 15,000 shares in the company, valued at $2,481,240. The trade was a 14.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 2,085 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $161.60, for a total value of $336,936.00. Following the completion of the transaction, the chief financial officer directly owned 63,215 shares of the company’s stock, valued at $10,215,544. This represents a 3.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 15,310 shares of company stock worth $2,533,585 in the last ninety days. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Kilter Group LLC bought a new stake in shares of ServiceNow in the second quarter valued at $25,000. IAG Wealth Partners LLC raised its holdings in ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 18 shares during the last quarter. Global X Japan Co. Ltd. bought a new stake in ServiceNow in the 2nd quarter worth $30,000. Total Investment Management Inc. purchased a new position in shares of ServiceNow in the second quarter valued at about $31,000. Finally, LGT Financial Advisors LLC bought a new position in shares of ServiceNow during the second quarter valued at about $32,000. 87.18% of the stock is owned by institutional investors.

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.