ServiceNow (NYSE:NOW) Price Target Cut to $950.00 by Analysts at KeyCorp

ServiceNow (NYSE:NOW) had its price objective trimmed by KeyCorp from $1,000.00 to $950.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the information technology services provider’s stock.

Other equities research analysts also recently issued research reports about the company. Mizuho lifted their target price on ServiceNow from $750.00 to $820.00 and gave the company a buy rating in a research report on Thursday, January 25th. Truist Financial boosted their price objective on ServiceNow from $700.00 to $750.00 and gave the company a hold rating in a report on Thursday, January 25th. William Blair reissued an outperform rating on shares of ServiceNow in a research note on Thursday. Morgan Stanley upped their price objective on ServiceNow from $814.00 to $830.00 and gave the stock an overweight rating in a research report on Thursday. Finally, The Goldman Sachs Group upped their price objective on ServiceNow from $800.00 to $910.00 and gave the company a buy rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $782.85.

ServiceNow Trading Up 1.0 %

NOW opened at $723.50 on Thursday. The stock has a fifty day moving average price of $760.05 and a 200-day moving average price of $706.80. ServiceNow has a 12 month low of $427.68 and a 12 month high of $815.32. The firm has a market cap of $148.59 billion, a price-to-earnings ratio of 76.60, a PEG ratio of 4.72 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20.

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

Insiders Place Their Bets

In other news, insider Paul John Smith sold 1,180 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the sale, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceNow

Several large investors have recently made changes to their positions in NOW. Vanguard Group Inc. grew its position in ServiceNow by 0.7% in the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after purchasing an additional 122,577 shares in the last quarter. FMR LLC boosted its holdings in shares of ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after buying an additional 595,697 shares during the period. Jennison Associates LLC boosted its holdings in shares of ServiceNow by 2.2% during the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after buying an additional 53,719 shares during the period. Norges Bank bought a new stake in shares of ServiceNow during the 4th quarter worth about $1,648,259,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in ServiceNow by 3.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after purchasing an additional 81,028 shares during the period. 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.