ServiceNow (NYSE:NOW) had its target price boosted by KeyCorp from $165.00 to $194.00 in a research report released on Monday morning, MarketBeat.com reports. KeyCorp currently has an overweight rating on the information technology services provider’s stock. The analysts noted that the move was a valuation call.
Several other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut shares of ServiceNow from an overweight rating to a neutral rating and set a $138.00 price objective for the company. in a research report on Tuesday, December 12th. Cowen reiterated a buy rating and set a $160.00 price target on shares of ServiceNow in a research report on Monday, December 11th. Mizuho reiterated a buy rating and set a $160.00 price target (up previously from $140.00) on shares of ServiceNow in a research report on Monday, January 22nd. Barclays reiterated a buy rating and set a $150.00 price target on shares of ServiceNow in a research report on Monday, January 15th. Finally, Piper Jaffray Companies reiterated an overweight rating and set a $160.00 price target on shares of ServiceNow in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. ServiceNow presently has a consensus rating of Buy and a consensus target price of $155.24.
Shares of ServiceNow stock opened at $173.19 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market cap of $29,665.81, a PE ratio of -199.07, a price-to-earnings-growth ratio of 37.90 and a beta of 1.14. ServiceNow has a 1 year low of $83.42 and a 1 year high of $176.56.
ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 31st. The information technology services provider reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $546.37 million during the quarter, compared to analysts’ expectations of $532.74 million. ServiceNow had a negative net margin of 7.71% and a negative return on equity of 23.78%. The company’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. equities research analysts forecast that ServiceNow will post 0.1 earnings per share for the current fiscal year.
In other ServiceNow news, Director Frederic B. Luddy sold 32,500 shares of ServiceNow stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $173.95, for a total value of $5,653,375.00. Following the transaction, the director now owns 260,791 shares of the company’s stock, valued at $45,364,594.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Scarpelli sold 25,000 shares of ServiceNow stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $147.12, for a total transaction of $3,678,000.00. Following the completion of the transaction, the chief financial officer now directly owns 94,521 shares in the company, valued at approximately $13,905,929.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 490,308 shares of company stock valued at $73,834,398. Corporate insiders own 3.30% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in NOW. Ark Investment Management LLC lifted its stake in ServiceNow by 113.3% in the second quarter. Ark Investment Management LLC now owns 7,713 shares of the information technology services provider’s stock valued at $818,000 after buying an additional 4,097 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in ServiceNow by 12.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 50,000 shares of the information technology services provider’s stock valued at $5,877,000 after buying an additional 5,693 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in ServiceNow in the third quarter valued at approximately $482,000. CIBC Asset Management Inc lifted its stake in ServiceNow by 10.3% in the third quarter. CIBC Asset Management Inc now owns 6,321 shares of the information technology services provider’s stock valued at $743,000 after buying an additional 591 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in ServiceNow by 1.5% in the third quarter. New York State Common Retirement Fund now owns 369,500 shares of the information technology services provider’s stock valued at $43,427,000 after buying an additional 5,500 shares in the last quarter.
ILLEGAL ACTIVITY NOTICE: “ServiceNow (NOW) Price Target Raised to $194.00” was published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://www.thelincolnianonline.com/2018/03/22/servicenow-now-price-target-raised-to-194-00.html.
ServiceNow Company Profile
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.