ServiceNow (NYSE:NOW) PT Raised to $820.00 at JPMorgan Chase & Co.

ServiceNow (NYSE:NOW) had its price target hoisted by stock analysts at JPMorgan Chase & Co. from $780.00 to $820.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the information technology services provider’s stock.

A number of other equities analysts also recently commented on NOW. JMP Securities reissued a “market outperform” rating and issued a $825.00 target price on shares of ServiceNow in a research note on Tuesday, May 7th. Citigroup raised their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Jefferies Financial Group raised their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Canaccord Genuity Group reissued a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a report on Tuesday. Finally, Truist Financial lifted their price target on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $823.85.

ServiceNow Trading Up 12.2 %

NYSE:NOW traded up $89.13 during trading hours on Thursday, reaching $820.00. 2,830,479 shares of the company were exchanged, compared to its average volume of 1,296,647. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $168.10 billion, a price-to-earnings ratio of 87.69, a PEG ratio of 4.80 and a beta of 0.99. ServiceNow has a 52-week low of $527.24 and a 52-week high of $828.00. The stock has a 50 day simple moving average of $741.36 and a 200 day simple moving average of $749.47.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. As a group, analysts predict that ServiceNow will post 6.5 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 125 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the transaction, the insider now directly owns 3,112 shares in the company, valued at approximately $2,263,606.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frederic B. Luddy sold 598 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $741.92, for a total transaction of $443,668.16. Following the transaction, the director now owns 428 shares in the company, valued at $317,541.76. The disclosure for this sale can be found here. Insiders have sold a total of 5,530 shares of company stock valued at $3,997,012 in the last 90 days. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Creekmur Asset Management LLC acquired a new position in ServiceNow during the 1st quarter valued at about $25,000. Versant Capital Management Inc raised its position in shares of 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 during the period. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow in the 4th quarter valued at approximately $29,000. EntryPoint Capital LLC boosted its stake in ServiceNow by 3,900.0% in the 1st 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. Finally, AdvisorNet Financial Inc boosted its stake in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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.