ServiceNow (NYSE:NOW) Given New $950.00 Price Target at JPMorgan Chase & Co.

ServiceNow (NYSE:NOW) had its price objective raised by JPMorgan Chase & Co. from $820.00 to $950.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

NOW has been the topic of a number of other reports. Wells Fargo & Company lifted their price objective on shares of ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. KeyCorp dropped their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Evercore ISI raised their price objective on shares of ServiceNow from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Guggenheim reiterated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research report on Monday, July 8th. Finally, BMO Capital Markets raised their price target on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. One 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $970.33.

ServiceNow Trading Down 0.6 %

NYSE NOW opened at $950.85 on Thursday. The firm’s fifty day moving average is $885.56 and its two-hundred day moving average is $797.66. ServiceNow has a one year low of $548.44 and a one year high of $979.78. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $194.92 billion, a PE ratio of 101.70, a P/E/G ratio of 5.04 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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 return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the prior year, the business earned $1.21 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. Analysts expect that ServiceNow will post 7.41 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the transaction, the director now directly owns 10,767 shares in the company, valued at approximately $8,850,474. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Paul Edward Chamberlain sold 135 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total transaction of $110,970.00. Following the completion of the transaction, the director now owns 10,767 shares of the company’s stock, valued at $8,850,474. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 804 shares of the firm’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 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,467 shares of company stock valued at $4,450,447. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Creekmur Asset Management LLC acquired a new stake in ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc increased its position 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 purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC raised its holdings in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 39 shares during the period. Ridgewood Investments LLC acquired a new position in ServiceNow during the second quarter valued at approximately $32,000. Finally, DT Investment Partners LLC grew its stake in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

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.