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

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

Other analysts have also issued research reports about the stock. Guggenheim reaffirmed a neutral rating on shares of ServiceNow in a report on Monday, April 15th. JMP Securities reiterated a market outperform rating and issued a $825.00 price objective on shares of ServiceNow in a report on Tuesday, May 7th. BMO Capital Markets cut their target price on ServiceNow from $850.00 to $830.00 and set an outperform rating on the stock in a research note on Thursday, April 25th. StockNews.com lowered ServiceNow from a buy rating to a hold rating in a research report on Friday, April 26th. Finally, UBS Group cut their price target on shares of ServiceNow from $920.00 to $875.00 and set a buy rating on the stock in a research report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $813.28.

ServiceNow Trading Up 2.6 %

Shares of NOW opened at $806.47 on Tuesday. The stock’s fifty day simple moving average is $731.14 and its 200-day simple moving average is $743.28. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $165.33 billion, a PE ratio of 84.83, a price-to-earnings-growth ratio of 4.93 and a beta of 0.99. ServiceNow has a 12-month low of $527.24 and a 12-month high of $815.32.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. As a group, research analysts predict that ServiceNow will post 6.5 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the transaction, the insider now owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Christopher Bedi sold 215 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul John Smith sold 190 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the transaction, the insider now owns 3,010 shares in the company, valued at $2,163,527.80. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock valued at $3,997,012 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.