ServiceNow (NYSE:NOW) Price Target Increased to $820.00 by Analysts at JPMorgan Chase & Co.

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

A number of other analysts also recently issued reports on NOW. Morgan Stanley raised their target price on ServiceNow from $814.00 to $830.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. BMO Capital Markets cut their target price on ServiceNow from $850.00 to $830.00 and set an outperform rating for the company in a research note on Thursday, April 25th. UBS Group cut their target price on ServiceNow from $920.00 to $875.00 and set a buy rating for the company in a research note on Thursday, April 25th. Robert W. Baird raised their target price on ServiceNow from $885.00 to $900.00 and gave the stock an outperform rating in a research note on Thursday. Finally, Guggenheim reaffirmed a sell rating and issued a $640.00 target price on shares of ServiceNow in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $833.57.

ServiceNow Stock Up 13.4 %

NYSE NOW opened at $828.79 on Thursday. The business has a fifty day moving average price of $742.77 and a 200 day moving average price of $750.01. ServiceNow has a one year low of $527.24 and a one year high of $850.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $169.90 billion, a P/E ratio of 88.57, a P/E/G ratio of 4.58 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 15.01% and a net margin of 11.51%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the company earned $0.77 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. Research analysts anticipate that ServiceNow will post 6.5 EPS for the current fiscal year.

Insider Activity

In other news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total value of $1,329,984.00. Following the completion of the transaction, the chief financial officer now owns 13,290 shares in the company, valued at approximately $9,819,715.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the sale, the chief financial officer now owns 13,290 shares of the company’s stock, valued at approximately $9,819,715.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the sale, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ServiceNow

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the 1st quarter worth about $25,000. Versant Capital Management Inc lifted its stake in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in ServiceNow in the fourth quarter valued at approximately $29,000. EntryPoint Capital LLC lifted its stake 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 last quarter. Finally, AdvisorNet Financial Inc lifted its stake in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the last quarter. 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.