ServiceNow (NYSE:NOW) Price Target Cut to $950.00

ServiceNow (NYSE:NOW) had its price target dropped by equities research analysts at KeyCorp from $1,000.00 to $950.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the information technology services provider’s stock. KeyCorp’s target price points to a potential upside of 31.41% from the stock’s previous close.

NOW has been the subject of several other reports. BMO Capital Markets cut their target price on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday. Oppenheimer upped their target price on shares of ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Robert W. Baird upped their target price on shares of ServiceNow from $780.00 to $870.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Mizuho upped their price target on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Barclays upped their price target 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. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $782.85.

ServiceNow Stock Up 0.9 %

NOW opened at $722.94 on Thursday. ServiceNow has a one year low of $427.68 and a one year high of $815.32. The company has a fifty day moving average price of $759.21 and a 200-day moving average price of $707.90. The firm has a market capitalization of $148.48 billion, a P/E ratio of 77.32, a price-to-earnings-growth ratio of 4.72 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 20.34% and a return on equity of 14.00%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. Equities research analysts expect that ServiceNow will post 6.16 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,164 shares of company stock worth $9,940,303. Company 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 stock. PFG Private Wealth Management LLC purchased a new stake in ServiceNow in the third quarter worth about $28,000. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $29,000. AdvisorNet Financial Inc lifted its holdings in shares of ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Steward Financial Group LLC lifted its holdings in shares of ServiceNow by 125.0% during the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 35 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in shares of ServiceNow during the third quarter valued at approximately $35,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Company Profile

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.