ServiceNow (NYSE:NOW) PT Raised to $1,040.00 at KeyCorp

ServiceNow (NYSE:NOW) had its price target lifted by KeyCorp from $1,020.00 to $1,040.00 in a research report released on Thursday morning, Benzinga reports. KeyCorp currently has an overweight rating on the information technology services provider’s stock.

NOW has been the subject of several other research reports. Robert W. Baird lifted their price objective on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday. TD Cowen boosted their target price on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. BMO Capital Markets boosted their target price on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Needham & Company LLC boosted their target price on ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Barclays boosted their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $970.33.

ServiceNow Price Performance

Shares of NOW stock opened at $950.85 on Thursday. The stock’s fifty day simple moving average is $885.56 and its 200 day simple moving average is $797.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $195.88 billion, a price-to-earnings ratio of 171.94, a P/E/G ratio of 5.04 and a beta of 0.99. ServiceNow has a one year low of $548.44 and a one year high of $979.78.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the firm earned $1.21 EPS. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. On average, analysts expect that ServiceNow will post 7.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,467 shares of company stock worth $4,450,447. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Institutional investors and hedge funds have recently bought and sold shares of the business. Creekmur Asset Management LLC bought a new stake in ServiceNow in the first quarter valued at approximately $25,000. Versant Capital Management Inc raised its stake in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the period. DT Investment Partners LLC raised its stake in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the period. EntryPoint Capital LLC increased its stake in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the period. Finally, Ridgewood Investments LLC bought a new position in shares of ServiceNow during the second quarter worth approximately $32,000. Institutional investors own 87.18% of the company’s stock.

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.