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

ServiceNow (NYSE:NOW) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $820.00 to $950.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 0.09% from the stock’s previous close.

A number of other research analysts have also commented on NOW. Mizuho upped their price target on ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Evercore ISI increased their price target on shares of ServiceNow from $850.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. JMP Securities upped their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. Finally, Needham & Company LLC upped their price target on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $970.33.

ServiceNow Trading Down 0.6 %

Shares of NOW stock opened at $950.85 on Thursday. The business’s 50 day moving average is $883.09 and its two-hundred day moving average is $796.21. 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 has a 12 month low of $548.44 and a 12 month high of $979.78. The company has a market cap of $195.88 billion, a PE ratio of 171.94, a price-to-earnings-growth ratio of 5.04 and a beta of 0.99.

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

Insider Buying and Selling

In other ServiceNow news, 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 value of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 5,467 shares of company stock worth $4,450,447 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the 1st quarter worth approximately $25,000. Versant Capital Management Inc grew its holdings in 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 acquiring an additional 28 shares during the period. EntryPoint Capital LLC raised 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 valued at $30,000 after acquiring an additional 39 shares during the last quarter. Ridgewood Investments LLC acquired a new position in shares of ServiceNow in the 2nd quarter valued at $32,000. Finally, DT Investment Partners LLC boosted its position in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

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.