ServiceNow (NYSE:NOW) PT Raised to $1,040.00 at KeyCorp

ServiceNow (NYSE:NOW) had its price target hoisted by stock analysts at KeyCorp from $1,020.00 to $1,040.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. KeyCorp’s price objective suggests a potential upside of 8.23% from the company’s previous close.

Several other research analysts have also recently commented on NOW. Evercore ISI increased their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday. BMO Capital Markets upped their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Barclays raised their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup upped their price target on shares of ServiceNow from $915.00 to $1,068.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Piper Sandler lifted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $966.08.

ServiceNow Stock Up 5.9 %

Shares of NOW stock traded up $53.27 during trading on Thursday, reaching $960.95. The company’s stock had a trading volume of 1,758,035 shares, compared to its average volume of 1,277,566. ServiceNow has a one year low of $527.24 and a one year high of $979.78. The business has a fifty day moving average price of $880.60 and a 200-day moving average price of $795.09. The company has a market cap of $196.99 billion, a price-to-earnings ratio of 102.78, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 EPS. Analysts anticipate that ServiceNow will post 6.78 earnings per share for the current year.

Insider Activity

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,467 shares of company stock worth $4,450,447. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several large investors have recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new stake in ServiceNow during the first quarter worth $25,000. Versant Capital Management Inc raised its holdings in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC lifted its position 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 during the last quarter. Ridgewood Investments LLC bought a new stake in shares of ServiceNow during the 2nd quarter worth $32,000. Finally, DT Investment Partners LLC boosted its stake in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds 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.