UBS Group Issues Pessimistic Forecast for ServiceNow (NYSE:NOW) Stock Price

ServiceNow (NYSE:NOW) had its price objective reduced by investment analysts at UBS Group from $230.00 to $200.00 in a report released on Wednesday,MarketScreener reports. UBS Group’s price objective indicates a potential upside of 31.21% from the company’s current price.

A number of other equities analysts have also commented on NOW. Canaccord Genuity Group restated a “buy” rating and issued a $224.00 price target on shares of ServiceNow in a research report on Thursday, October 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $240.00 price objective on shares of ServiceNow in a research report on Thursday, October 30th. JPMorgan Chase & Co. increased their target price on ServiceNow from $204.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Wall Street Zen lowered ServiceNow from a “buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $218.60 price objective on shares of ServiceNow in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.16.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $152.43 on Wednesday. ServiceNow has a fifty-two week low of $135.73 and a fifty-two week high of $239.62. 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’s fifty day moving average price is $170.36 and its two-hundred day moving average price is $182.33. The stock has a market capitalization of $158.28 billion, a price-to-earnings ratio of 92.16, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97.

Insiders Place Their Bets

In other ServiceNow news, insider Paul Fipps sold 1,525 shares of ServiceNow stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $163.51, for a total value of $249,352.75. Following the sale, the insider owned 2,705 shares of the company’s stock, valued at $442,294.55. This trade represents a 36.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $168.50, for a total transaction of $235,894.40. Following the sale, the insider owned 25,270 shares of the company’s stock, valued at approximately $4,257,893.92. This represents a 5.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 15,310 shares of company stock valued at $2,533,585 over the last three months. 0.34% of the stock is owned by insiders.

Institutional Trading of ServiceNow

Several hedge funds have recently added to or reduced their stakes in the company. Klingman & Associates LLC grew its position in shares of ServiceNow by 22.2% in the 2nd quarter. Klingman & Associates LLC now owns 533 shares of the information technology services provider’s stock valued at $548,000 after buying an additional 97 shares during the last quarter. Ethic Inc. boosted its holdings in ServiceNow by 1.6% in the second quarter. Ethic Inc. now owns 25,496 shares of the information technology services provider’s stock valued at $26,067,000 after acquiring an additional 397 shares during the last quarter. Howard Capital Management Inc. increased its position in ServiceNow by 32.0% during the 2nd quarter. Howard Capital Management Inc. now owns 1,465 shares of the information technology services provider’s stock valued at $1,506,000 after purchasing an additional 355 shares during the period. Chicago Capital LLC raised its holdings in ServiceNow by 1.0% during the 2nd quarter. Chicago Capital LLC now owns 78,951 shares of the information technology services provider’s stock worth $81,168,000 after purchasing an additional 744 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. lifted its position in shares of ServiceNow by 128.8% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 55,394 shares of the information technology services provider’s stock worth $56,944,000 after purchasing an additional 31,181 shares during the period. 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.