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

ServiceNow (NYSE:NOW - Get Free Report) had its price objective cut by KeyCorp from $1,000.00 to $950.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the information technology services provider's stock. KeyCorp's price objective suggests a potential upside of 32.64% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets dropped their price objective on ServiceNow from $850.00 to $830.00 and set an "outperform" rating for the company in a research note on Thursday. Mizuho raised their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the company a "buy" rating in a research note on Thursday, January 25th. Jefferies Financial Group raised their price target on shares of ServiceNow from $885.00 to $900.00 and gave the company a "buy" rating in a research report on Wednesday, April 10th. The Goldman Sachs Group boosted their price objective on ServiceNow from $800.00 to $910.00 and gave the stock a "buy" rating in a research report on Thursday, January 25th. Finally, William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a report on Thursday. Three 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $782.85.

ServiceNow Trading Down 4.0 %

NYSE NOW traded down $30.04 during trading on Thursday, hitting $716.25. The company had a trading volume of 3,366,891 shares, compared to its average volume of 1,213,611. The company's fifty day moving average is $761.32 and its 200-day moving average is $706.74. ServiceNow has a one year low of $427.68 and a one year high of $815.32. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The company has a market cap of $147.10 billion, a price-to-earnings ratio of 85.17, a price-to-earnings-growth ratio of 4.68 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. ServiceNow's revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, sell-side analysts predict that ServiceNow will post 6.16 earnings per share for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the business's stock in a transaction on 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 transaction, the chief executive officer now directly owns 17,177 shares of the company's stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO William R. Mcdermott sold 5,030 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The stock was 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 of the company's stock, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul John Smith sold 1,795 shares of the company's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock worth $9,940,303 over the last 90 days. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in ServiceNow by 0.7% in the 3rd 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 acquiring an additional 122,577 shares during the last quarter. FMR LLC increased its stake 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 purchasing an additional 595,697 shares in the last quarter. Jennison Associates LLC raised its position 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 purchasing an additional 53,719 shares during the last quarter. Norges Bank purchased a new stake in ServiceNow in the 4th quarter valued at approximately $1,648,259,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in ServiceNow by 3.7% during 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 buying an additional 81,028 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.