Recent Investment Analysts’ Ratings Changes for ServiceNow (NOW)

ServiceNow (NYSE: NOW) has recently received a number of price target changes and ratings updates:

• 5/10/2024 – ServiceNow had its “outperform” rating reaffirmed by analysts at Wolfe Research. They now have a $830.00 price target on the stock.
• 5/7/2024 – ServiceNow had its “outperform” rating reaffirmed by analysts at William Blair.
• 5/7/2024 – ServiceNow had its price target raised by analysts at Robert W. Baird from $870.00 to $885.00. They now have an “outperform” rating on the stock.
• 5/7/2024 – ServiceNow had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $825.00 price target on the stock.
• 5/7/2024 – ServiceNow had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $900.00 price target on the stock.
• 4/26/2024 – ServiceNow was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 4/25/2024 – ServiceNow had its price target lowered by analysts at KeyCorp from $1,000.00 to $950.00. They now have an “overweight” rating on the stock.
• 4/25/2024 – ServiceNow had its price target raised by analysts at Morgan Stanley from $814.00 to $830.00. They now have an “overweight” rating on the stock.
• 4/25/2024 – ServiceNow had its “outperform” rating reaffirmed by analysts at William Blair.
• 4/25/2024 – ServiceNow had its price target lowered by analysts at BMO Capital Markets from $850.00 to $830.00. They now have an “outperform” rating on the stock.
• 4/25/2024 – ServiceNow had its price target lowered by analysts at UBS Group AG from $920.00 to $875.00. They now have a “buy” rating on the stock.
• 4/25/2024 – ServiceNow had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $900.00 price target on the stock.
• 4/23/2024 – ServiceNow had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $825.00 price target on the stock.
• 4/18/2024 – ServiceNow had its price target raised by analysts at Citigroup Inc. from $896.00 to $906.00. They now have a “buy” rating on the stock.
• 4/16/2024 – ServiceNow had its price target raised by analysts at Wells Fargo & Company from $875.00 to $900.00. They now have an “overweight” rating on the stock.
• 4/16/2024 – ServiceNow had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $900.00 price target on the stock.
• 4/15/2024 – ServiceNow had its “neutral” rating reaffirmed by analysts at Guggenheim.
• 4/15/2024 – ServiceNow had its price target raised by analysts at UBS Group AG from $885.00 to $920.00. They now have a “buy” rating on the stock.
• 4/10/2024 – ServiceNow had its price target raised by analysts at Jefferies Financial Group Inc. from $885.00 to $900.00. They now have a “buy” rating on the stock.

ServiceNow Stock Performance

Shares of NOW traded down $9.52 during trading hours on Tuesday, hitting $728.99. The stock had a trading volume of 1,547,007 shares, compared to its average volume of 1,202,222. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a 50-day moving average price of $746.76 and a 200 day moving average price of $733.85. ServiceNow, Inc. has a fifty-two week low of $526.11 and a fifty-two week high of $815.32. The firm has a market capitalization of $149.44 billion, a price-to-earnings ratio of 77.97, a PEG ratio of 4.63 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. As a group, research analysts anticipate that ServiceNow, Inc. will post 6.5 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the transaction, the insider now directly owns 3,112 shares in the company, valued at $2,263,606.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 125 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the transaction, the insider now directly owns 3,112 shares in the company, valued at $2,263,606.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederic B. Luddy sold 598 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $741.92, for a total transaction of $443,668.16. Following the transaction, the director now owns 428 shares of the company’s stock, valued at $317,541.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,515 shares of company stock worth $1,134,548. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Large investors have recently modified their holdings of the business. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow during the first quarter worth $25,000. EntryPoint Capital LLC grew its holdings in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow in the fourth quarter valued at about $29,000. AdvisorNet Financial Inc grew its holdings in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the period. Finally, Sachetta LLC purchased a new stake in shares of ServiceNow in the fourth quarter valued at about $35,000. Hedge funds and other institutional investors 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.