JPMorgan Chase & Co. Boosts ServiceNow (NYSE:NOW) Price Target to $950.00

ServiceNow (NYSE:NOW) had its price target lifted by JPMorgan Chase & Co. from $820.00 to $950.00 in a report published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the information technology services provider’s stock.

Several other brokerages have also weighed in on NOW. Guggenheim restated a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a research note on Monday, July 8th. Wells Fargo & Company boosted their price objective on ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. UBS Group increased their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. BMO Capital Markets boosted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $970.33.

ServiceNow Trading Down 0.6 %

ServiceNow stock opened at $950.85 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a market cap of $195.88 billion, a PE ratio of 171.94, a P/E/G ratio of 5.04 and a beta of 0.99. The stock’s 50 day simple moving average is $885.56 and its two-hundred day simple moving average is $797.46. ServiceNow has a 12 month low of $548.44 and a 12 month high of $979.78.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the business earned $1.21 earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. Analysts anticipate that ServiceNow will post 7.41 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 804 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total value of $652,848.00. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,457,924. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow 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 sale, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 804 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,457,924. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,467 shares of company stock worth $4,450,447 in the last 90 days. Insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Institutional investors have recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow in the first quarter valued at $25,000. Versant Capital Management Inc grew its position in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. EntryPoint Capital LLC increased its stake 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. Ridgewood Investments LLC acquired a new stake in shares of ServiceNow during the second quarter worth about $32,000. Finally, DT Investment Partners LLC boosted its stake in shares of 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 purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Company Profile

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.