ServiceNow (NYSE:NOW) Price Target Lowered to $920.00 at KeyCorp

ServiceNow (NYSE:NOW) had its price objective decreased by KeyCorp from $950.00 to $920.00 in a report issued on Tuesday, Benzinga reports. KeyCorp currently has an overweight rating on the information technology services provider’s stock.

A number of other research analysts have also commented on NOW. Wolfe Research reiterated an outperform rating and set a $830.00 price target on shares of ServiceNow in a report on Friday, May 10th. Robert W. Baird upped their price target on ServiceNow from $870.00 to $885.00 and gave the company an outperform rating in a report on Tuesday, May 7th. Wells Fargo & Company upped their target price on ServiceNow from $875.00 to $900.00 and gave the company an overweight rating in a research note on Tuesday, April 16th. Citigroup lifted their price target on shares of ServiceNow from $896.00 to $906.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Finally, Stifel Nicolaus restated a buy rating and issued a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $813.28.

ServiceNow Stock Up 0.7 %

Shares of ServiceNow stock opened at $794.11 on Tuesday. The firm has a market cap of $162.79 billion, a price-to-earnings ratio of 84.58, a P/E/G ratio of 4.93 and a beta of 0.99. The stock has a 50-day simple moving average of $727.88 and a 200-day simple moving average of $742.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. ServiceNow has a 52-week low of $527.24 and a 52-week high of $815.32.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. On average, equities research analysts expect that ServiceNow will post 6.5 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 125 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the transaction, the insider now directly owns 3,112 shares in the company, valued at approximately $2,263,606.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,530 shares of company stock valued at $3,997,012. 0.25% of the stock is owned by insiders.

Institutional Trading of ServiceNow

A number of institutional investors have recently bought and sold shares of the business. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the 1st quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow in the 4th quarter valued at $29,000. EntryPoint Capital LLC raised its holdings in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares in the last quarter. AdvisorNet Financial Inc lifted its position in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares during the last quarter. Finally, Disciplined Equity Management Inc. acquired a new stake in ServiceNow in the fourth quarter valued at about $35,000. Institutional investors own 87.18% of the company’s stock.

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.