ServiceNow, Inc. (NYSE:NOW) Stock Rating Reaffirmed by KeyCorp

KeyCorp reiterated their overweight rating on shares of ServiceNow, Inc. (NYSE:NOW) in a research note published on Thursday, October 26th. The firm currently has a $150.00 target price on the information technology services provider’s stock, up from their previous target price of $125.00.

Several other research firms also recently commented on NOW. Moffett Nathanson started coverage on shares of ServiceNow in a research report on Wednesday, September 6th. They issued a buy rating for the company. BidaskClub downgraded shares of ServiceNow from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Robert W. Baird reissued a buy rating and issued a $120.00 target price on shares of ServiceNow in a research report on Friday, September 1st. Summit Redstone reissued a buy rating and issued a $135.00 target price on shares of ServiceNow in a research report on Monday, September 18th. Finally, Deutsche Bank AG boosted their target price on shares of ServiceNow from $115.00 to $135.00 and gave the stock a buy rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-nine have issued a buy rating and three have given a strong buy rating to the company. ServiceNow currently has an average rating of Buy and an average price target of $130.50.

ServiceNow (NYSE NOW) opened at $125.98 on Thursday. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.66 and a quick ratio of 1.66. ServiceNow has a 12 month low of $72.80 and a 12 month high of $129.56.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.06. The firm had revenue of $498.20 million for the quarter, compared to analyst estimates of $491.62 million. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. The company’s revenue for the quarter was up 39.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. research analysts forecast that ServiceNow will post -0.35 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “ServiceNow, Inc. (NYSE:NOW) Stock Rating Reaffirmed by KeyCorp” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this news story on another publication, it was illegally copied and republished in violation of United States & international copyright law. The legal version of this news story can be viewed at https://ledgergazette.com/2017/11/13/servicenow-inc-now-receives-overweight-rating-from-keycorp.html.

In related news, Director Frederic B. Luddy sold 100,000 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $110.17, for a total transaction of $11,017,000.00. Following the completion of the sale, the director now owns 29,990 shares in the company, valued at approximately $3,303,998.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Scarpelli sold 75,000 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.68, for a total transaction of $8,076,000.00. Following the sale, the insider now owns 252,368 shares of the company’s stock, valued at approximately $27,174,986.24. The disclosure for this sale can be found here. Insiders have sold a total of 1,022,500 shares of company stock valued at $119,687,175 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. LS Investment Advisors LLC grew its holdings in ServiceNow by 3.6% during the 2nd quarter. LS Investment Advisors LLC now owns 1,738 shares of the information technology services provider’s stock worth $184,000 after acquiring an additional 61 shares during the last quarter. Commonwealth Bank of Australia grew its holdings in ServiceNow by 5.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,518 shares of the information technology services provider’s stock worth $159,000 after acquiring an additional 83 shares during the last quarter. Crow Point Partners LLC grew its holdings in ServiceNow by 8.8% during the 2nd quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock worth $140,000 after acquiring an additional 107 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in ServiceNow by 0.6% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 20,816 shares of the information technology services provider’s stock worth $1,821,000 after acquiring an additional 116 shares during the last quarter. Finally, Comerica Bank grew its holdings in ServiceNow by 2.6% during the 2nd quarter. Comerica Bank now owns 7,959 shares of the information technology services provider’s stock worth $859,000 after acquiring an additional 205 shares during the last quarter. 98.78% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply