ServiceNow (NYSE:NOW) Price Target Increased to $1,040.00 by Analysts at KeyCorp

ServiceNow (NYSE:NOW) had its price objective upped by KeyCorp from $1,020.00 to $1,040.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

Several other analysts also recently commented on the stock. Oppenheimer raised their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Mizuho raised their target price on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Stifel Nicolaus increased their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday. Canaccord Genuity Group lifted their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Guggenheim restated a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. One 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 company. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $970.22.

ServiceNow Trading Down 0.8 %

Shares of ServiceNow stock traded down $7.92 on Thursday, hitting $948.66. 411,807 shares of the company’s stock traded hands, compared to its average volume of 1,281,143. ServiceNow has a one year low of $548.44 and a one year high of $979.78. 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 stock has a market capitalization of $195.42 billion, a PE ratio of 172.95, a price-to-earnings-growth ratio of 5.04 and a beta of 0.99. The firm’s 50-day moving average price is $880.60 and its two-hundred day moving average price is $795.09.

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

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,467 shares of company stock valued at $4,450,447 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

A number of large investors have recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after buying an additional 1,183,739 shares during the period. Swedbank AB purchased a new position in ServiceNow during the 1st quarter valued at $897,908,000. Vanguard Group Inc. grew its position in ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after acquiring an additional 331,797 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in ServiceNow in the second quarter worth $218,786,000. Finally, Acadian Asset Management LLC lifted its holdings in ServiceNow by 233.4% during the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after buying an additional 271,073 shares in the last quarter. 87.18% of the stock is 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.