ServiceNow (NYSE:NOW) Given New $950.00 Price Target at KeyCorp

ServiceNow (NYSE:NOW) had its price target cut by investment analysts at KeyCorp from $1,000.00 to $950.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. KeyCorp’s price target indicates a potential upside of 34.28% from the stock’s current price.

A number of other equities analysts have also recently weighed in on NOW. William Blair restated an “outperform” rating on shares of ServiceNow in a research report on Thursday. Stifel Nicolaus reiterated a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research report on Wednesday, March 20th. Citigroup increased their target price on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Barclays increased their target price on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Finally, Mizuho upped their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $782.85.

ServiceNow Stock Performance

Shares of NOW traded down $38.82 during trading hours on Thursday, hitting $707.47. The stock had a trading volume of 2,146,734 shares, compared to its average volume of 1,197,432. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a 50-day moving average price of $761.32 and a 200 day moving average price of $706.74. ServiceNow has a fifty-two week low of $427.68 and a fifty-two week high of $815.32. The firm has a market capitalization of $145.30 billion, a price-to-earnings ratio of 84.27, a PEG ratio of 4.68 and a beta of 0.97.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, research analysts anticipate that ServiceNow will post 6.16 EPS for the current year.

Insider Activity

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,164 shares of company stock worth $9,940,303. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PFG Private Wealth Management LLC bought a new stake in ServiceNow during the 3rd quarter worth approximately $28,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow in the fourth quarter worth $29,000. AdvisorNet Financial Inc increased its holdings in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the period. Steward Financial Group LLC increased its stake in ServiceNow by 125.0% in the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 35 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in ServiceNow during the third quarter valued at about $35,000. 87.18% of the stock is owned by institutional investors and hedge funds.

About ServiceNow

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.