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

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

A number of other research firms have also issued reports on NOW. Truist Financial increased their target price on ServiceNow from $750.00 to $780.00 and gave the company a hold rating in a research note on Thursday. BMO Capital Markets lowered 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. Guggenheim reiterated a sell rating and issued a $640.00 target price on shares of ServiceNow in a research note on Monday, July 8th. Wolfe Research reiterated an outperform rating and issued a $830.00 target price on shares of ServiceNow in a research note on Friday, May 10th. Finally, Canaccord Genuity Group restated a buy rating and set a $835.00 price objective on shares of ServiceNow in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $833.57.

ServiceNow Stock Performance

ServiceNow stock opened at $828.79 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. ServiceNow has a 12 month low of $527.24 and a 12 month high of $850.33. The company has a market cap of $169.90 billion, a price-to-earnings ratio of 88.57, a price-to-earnings-growth ratio of 4.58 and a beta of 0.99. The stock’s 50-day moving average is $742.77 and its 200-day moving average is $750.01.

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

Insider Buying and Selling

In related news, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction that occurred on 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 owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other ServiceNow news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the sale, the insider now owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederic B. Luddy sold 598 shares of ServiceNow stock in a transaction on Friday, May 24th. The shares were sold at an average price of $741.92, for a total value of $443,668.16. Following the sale, the director now directly owns 428 shares in the company, valued at approximately $317,541.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,530 shares of company stock valued at $3,997,012. Insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several hedge funds have recently added to or reduced their stakes in NOW. Norges Bank bought a new stake in ServiceNow during the 4th quarter valued at $1,648,259,000. Swedbank AB acquired a new position in shares of ServiceNow during the 1st quarter valued at $897,908,000. International Assets Investment Management LLC increased its position in shares of ServiceNow by 69,354.6% during the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after purchasing an additional 820,465 shares during the period. Global Assets Advisory LLC acquired a new position in shares of ServiceNow during the 1st quarter valued at $403,034,000. Finally, Cerity Partners LLC increased its position in shares of ServiceNow by 1,073.7% during the 4th quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock valued at $287,020,000 after purchasing an additional 371,648 shares during the period. Institutional investors 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.