ServiceNow (NYSE:NOW) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

ServiceNow (NYSE:NOW) had its price target lifted by analysts at JPMorgan Chase & Co. from $950.00 to $1,250.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 6.75% from the stock’s current price.

NOW has been the subject of several other research reports. StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Raymond James started coverage on ServiceNow in a research note on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price target on the stock. Barclays boosted their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Piper Sandler boosted their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Sanford C. Bernstein upped their target price on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,116.14.

ServiceNow Price Performance

NYSE:NOW opened at $1,171.00 on Wednesday. The company has a market capitalization of $241.23 billion, a P/E ratio of 182.11, a P/E/G ratio of 5.11 and a beta of 0.99. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow has a 52 week low of $637.99 and a 52 week high of $1,198.09. The stock’s fifty day moving average is $1,082.77 and its two-hundred day moving average is $950.94.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Kevin Thomas Mcbride sold 100 shares of ServiceNow stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $1,023.97, for a total value of $102,397.00. Following the transaction, the insider now directly owns 3,457 shares in the company, valued at approximately $3,539,864.29. This trade represents a 2.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is owned by insiders.

Institutional Trading of ServiceNow

Several hedge funds have recently made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in ServiceNow in the third quarter valued at about $30,000. DT Investment Partners LLC boosted its stake in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in ServiceNow in the fourth quarter worth $37,000. Oakworth Capital Inc. lifted its holdings in ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 14 shares during the period. Finally, Dunhill Financial LLC grew its stake in shares of ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 21 shares during the period. 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.