ServiceNow (NOW) – Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of ServiceNow (NYSE: NOW) in the last few weeks:

• 10/25/2024 – ServiceNow had its price target raised by analysts at Citigroup Inc. from $1,068.00 to $1,071.00. They now have a “buy” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at KeyCorp from $1,020.00 to $1,040.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Wells Fargo & Company from $1,025.00 to $1,050.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Piper Sandler from $850.00 to $1,000.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at JPMorgan Chase & Co. from $820.00 to $950.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Barclays PLC from $980.00 to $1,000.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Sanford C. Bernstein from $906.00 to $913.00. They now have an “outperform” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Royal Bank of Canada from $985.00 to $1,045.00. They now have an “outperform” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Evercore ISI from $950.00 to $1,000.00. They now have an “outperform” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Robert W. Baird from $900.00 to $975.00. They now have an “outperform” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Stifel Nicolaus from $900.00 to $990.00. They now have a “buy” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Needham & Company LLC from $900.00 to $1,075.00. They now have a “buy” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Canaccord Genuity Group Inc. from $850.00 to $1,000.00. They now have a “buy” rating on the stock.
• 10/23/2024 – ServiceNow had its price target raised by analysts at Truist Financial Co. from $780.00 to $900.00. They now have a “hold” rating on the stock.
• 10/21/2024 – ServiceNow was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $960.00 price target on the stock, up previously from $900.00.
• 10/21/2024 – ServiceNow had its price target raised by analysts at TD Cowen from $900.00 to $1,000.00. They now have a “buy” rating on the stock.
• 10/17/2024 – ServiceNow had its price target raised by analysts at Oppenheimer Holdings Inc. from $825.00 to $1,020.00. They now have an “outperform” rating on the stock.
• 10/17/2024 – ServiceNow had its price target raised by analysts at Mizuho from $850.00 to $980.00. They now have an “outperform” rating on the stock.
• 10/17/2024 – ServiceNow had its price target raised by analysts at JMP Securities from $850.00 to $1,000.00. They now have a “market outperform” rating on the stock.
• 10/17/2024 – ServiceNow had its price target raised by analysts at Citigroup Inc. from $915.00 to $1,068.00. They now have a “buy” rating on the stock.
• 10/16/2024 – ServiceNow had its price target raised by analysts at Jefferies Financial Group Inc. from $900.00 to $1,100.00. They now have a “buy” rating on the stock.
• 10/11/2024 – ServiceNow had its price target raised by analysts at Barclays PLC from $890.00 to $980.00. They now have an “overweight” rating on the stock.
• 10/10/2024 – ServiceNow had its price target raised by analysts at BMO Capital Markets from $860.00 to $1,025.00. They now have an “outperform” rating on the stock.
• 10/9/2024 – ServiceNow had its price target raised by analysts at Evercore ISI from $850.00 to $950.00. They now have an “outperform” rating on the stock.
• 10/8/2024 – ServiceNow had its price target raised by analysts at UBS Group AG from $900.00 to $1,055.00. They now have a “buy” rating on the stock.
• 10/7/2024 – ServiceNow had its price target raised by analysts at Wells Fargo & Company from $935.00 to $1,025.00. They now have an “overweight” rating on the stock.
• 9/9/2024 – ServiceNow had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $900.00 price target on the stock.

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $14.98 during midday trading on Wednesday, hitting $986.02. The company had a trading volume of 455,914 shares, compared to its average volume of 1,277,502. ServiceNow, Inc. has a 1-year low of $610.38 and a 1-year high of $997.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The business’s 50 day simple moving average is $902.22 and its two-hundred day simple moving average is $807.88. The stock has a market cap of $203.12 billion, a PE ratio of 153.35, a P/E/G ratio of 5.41 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the business earned $1.21 EPS. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,530 shares of company stock worth $2,939,955 over the last 90 days. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of ServiceNow by 4.5% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,859 shares of the information technology services provider’s stock worth $5,240,000 after acquiring an additional 252 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of ServiceNow by 9.2% during the 3rd quarter. Metis Global Partners LLC now owns 12,159 shares of the information technology services provider’s stock worth $10,875,000 after buying an additional 1,023 shares during the last quarter. Aubrey Capital Management Ltd acquired a new stake in ServiceNow in the 3rd quarter valued at $2,862,000. KBC Group NV boosted its position in ServiceNow by 1.1% in the 3rd quarter. KBC Group NV now owns 164,359 shares of the information technology services provider’s stock valued at $147,002,000 after buying an additional 1,865 shares during the last quarter. Finally, Huntington National Bank lifted its position in shares of ServiceNow by 3.7% during the third quarter. Huntington National Bank now owns 96,427 shares of the information technology services provider’s stock worth $86,244,000 after purchasing an additional 3,459 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

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.