Truist Financial Boosts ServiceNow (NYSE:NOW) Price Target to $130.00

ServiceNow (NYSE:NOW) had its price target increased by stock analysts at Truist Financial from $120.00 to $130.00 in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Truist Financial’s price objective would indicate a potential upside of 20.58% from the company’s current price.

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald set a $130.00 target price on ServiceNow in a research note on Monday, June 15th. Weiss Ratings lowered ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, April 21st. Capital One Financial lifted their price objective on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. cut their target price on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Finally, Stifel Nicolaus decreased their price target on ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $141.47.

ServiceNow Stock Performance

Shares of NOW stock opened at $107.81 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow has a 52 week low of $81.24 and a 52 week high of $210.20. The stock has a market capitalization of $111.16 billion, a PE ratio of 64.25, a P/E/G ratio of 1.81 and a beta of 0.96. The firm has a 50 day moving average of $102.49 and a two-hundred day moving average of $111.27.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 earnings per share. On average, research analysts predict that ServiceNow will post 2.34 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. The trade was a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,071 shares of company stock valued at $2,529,956 in the last ninety days. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceNow

Several large investors have recently modified their holdings of NOW. Wedge Capital Management L L P NC grew its position in shares of ServiceNow by 5.4% during the second quarter. Wedge Capital Management L L P NC now owns 2,512 shares of the information technology services provider’s stock worth $249,000 after acquiring an additional 129 shares during the last quarter. Investors Research Corp raised its position in ServiceNow by 787.2% in the 2nd quarter. Investors Research Corp now owns 7,674 shares of the information technology services provider’s stock valued at $762,000 after purchasing an additional 6,809 shares during the last quarter. Tema ETFs LLC grew its position in ServiceNow by 10.0% during the 2nd quarter. Tema ETFs LLC now owns 20,679 shares of the information technology services provider’s stock worth $2,053,000 after purchasing an additional 1,885 shares during the last quarter. Canvas Wealth Advisors LLC grew its position in ServiceNow by 60.7% during the 2nd quarter. Canvas Wealth Advisors LLC now owns 28,524 shares of the information technology services provider’s stock worth $2,832,000 after purchasing an additional 10,773 shares during the last quarter. Finally, Fiduciary Financial Group LLC acquired a new position in ServiceNow in the second quarter valued at $404,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
• Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
• Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What’s Going On?

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.