ServiceNow (NYSE:NOW) Shares Up 1% Following Analyst Upgrade

Shares of ServiceNow, Inc. (NYSE:NOW) were up 1% during trading on Friday after Needham & Company LLC raised their price target on the stock from $115.00 to $155.00. Needham & Company LLC currently has a buy rating on the stock. ServiceNow traded as high as $134.45 and last traded at $132.4890. Approximately 10,098,173 shares traded hands during trading, a decline of 56% from the average daily volume of 23,036,930 shares. The stock had previously closed at $131.17.

NOW has been the topic of several other research reports. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target on shares of ServiceNow in a research report on Thursday, July 23rd. Evercore restated an “outperform” rating and issued a $160.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. BMO Capital Markets boosted their target price on shares of ServiceNow from $115.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Cantor Fitzgerald increased their price target on shares of ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of ServiceNow in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $145.71.

Insider Buying and Selling

In other ServiceNow news, Director Paul Chamberlain sold 2,700 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of the sale, the director directly owned 43,990 shares of the company’s stock, valued at approximately $5,960,645. The trade was a 5.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline Canney sold 7,847 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the transaction, the insider owned 30,042 shares in the company, valued at approximately $4,145,796. The trade was a 20.71% decrease in their ownership of the stock. 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. Insiders sold a total of 14,081 shares of company stock worth $1,937,904 over the last three months. 0.34% of the stock is currently owned by company insiders.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Needham raises ServiceNow target to $155: Needham & Company upgraded NOW to “buy” and increased its price target from $115 to $155, implying approximately 17% upside from the referenced share price. The move was part of a broader group of analyst target increases and is the clearest near-term catalyst for the stock. ServiceNow analyst forecasts
• Positive Sentiment: Agentic AI adoption is accelerating: ServiceNow is described as a leader in enterprise agentic AI, with production deployments increasing ninefold over nine months. Analysts expect AI-related revenue to grow substantially through 2030, supporting the long-term growth narrative. ServiceNow agentic AI analysis
• Positive Sentiment: Expanded AI visibility and ecosystem activity: ServiceNow will partner with Fortune on an October AI summit focused on commercializing AI, while RoboMQ launched an identity-governance application on the ServiceNow Store. These developments reinforce ServiceNow’s positioning as an enterprise workflow and AI platform, although they are unlikely to materially affect near-term revenue. Fortune AIQ Summit partnership
• Neutral Sentiment: Coverage on AI and cybersecurity highlights ServiceNow’s strategic relevance as businesses seek integrated automation, security and governance tools. However, the reports provide limited new financial guidance. AI and cybersecurity reshaping ServiceNow
• Negative Sentiment: Despite its growth prospects, AI revenue remains a relatively small portion of ServiceNow’s overall business, and the stock’s elevated valuation leaves it sensitive to any slowdown in enterprise spending or AI monetization.

Hedge Funds Weigh In On ServiceNow

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System raised its position in shares of ServiceNow by 9,980.9% during the 2nd quarter. California State Teachers Retirement System now owns 154,496,061 shares of the information technology services provider’s stock valued at $15,338,369,000 after acquiring an additional 152,963,494 shares during the last quarter. BlackRock Inc. bought a new position in shares of ServiceNow in the 2nd quarter worth $9,536,615,000. State Street Corp boosted its position in shares of ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after purchasing an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ServiceNow by 371.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after purchasing an additional 25,517,218 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of ServiceNow by 404.8% during the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after purchasing an additional 18,854,775 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Up 1.0%

The business has a fifty day moving average of $119.74 and a 200 day moving average of $108.75. The firm has a market cap of $136.99 billion, a P/E ratio of 82.81, a P/E/G ratio of 2.39 and a beta of 0.97. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company’s revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 earnings per share. On average, equities research analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current year.

About ServiceNow

ServiceNow, Inc is a cloud-based enterprise software company that provides digital workflow and automation solutions. Its Now Platform enables organizations to manage and connect business processes across information technology, customer service, human resources, finance, legal operations and other departments.

The company’s products and services include IT service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance management, strategic portfolio management and application development tools.