ServiceNow (NYSE:NOW) Trading Up 7.4% Following Analyst Upgrade

Shares of ServiceNow, Inc. (NYSE:NOW) rose 7.4% during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $145.00 to $150.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. ServiceNow traded as high as $98.93 and last traded at $98.7710. Approximately 29,481,701 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 23,906,777 shares. The stock had previously closed at $91.94.

Other equities analysts also recently issued research reports about the company. KeyCorp restated an “underweight” rating on shares of ServiceNow in a research report on Tuesday. Guggenheim upgraded ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Wednesday, July 1st. Wolfe Research set a $125.00 price objective on ServiceNow in a research note on Thursday, April 23rd. Canaccord Genuity Group decreased their price objective on ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $140.00 target price (up from $135.00) on shares of ServiceNow in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $143.39.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the sale, the director directly owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 19,144 shares of company stock worth $1,730,097 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow beat quarterly expectations, with EPS of $0.90 and revenue of $3.99 billion, both ahead of estimates, while subscription revenue rose 24.5% year over year. ServiceNow Reports Second Quarter 2026 Financial Results
• Positive Sentiment: The company raised its full-year subscription revenue outlook, signaling management sees continued demand for its AI-powered workflow products. ServiceNow raises annual subscription revenue forecast again on AI-driven demand
• Positive Sentiment: ServiceNow said AI contract value topped $1 billion, reinforcing the idea that its AI business is becoming a meaningful growth driver rather than a threat. ServiceNow AI Contract Value Crosses $1 Billion Milestone, Stock Soars
• Positive Sentiment: Several analysts lifted targets or reiterated bullish ratings after the report, suggesting Wall Street sees more upside even after the recent rebound. Analysts Increase Forecasts After Better-Than-Expected Q2 Earnings
• Neutral Sentiment: New partnerships and deployments, including work with government customers, Experian, Leidos, TeamViewer, and Exclusive Networks, add to the long-term growth story but are less likely to move the stock immediately. ServiceNow accelerates AI-powered government reinvention across nearly all 50 U.S. states with new customer wins
• Neutral Sentiment: Ongoing debate around insider selling and mixed institutional positioning may temper enthusiasm, but these signals are secondary to the earnings-driven move. ServiceNow Stock (NOW) Opinions on AI Disruption Fears
• Negative Sentiment: The main overhang is the market’s concern that AI could eventually reduce demand for traditional software and workflow licenses, which is why the stock has been volatile despite strong results. AI Bear Narrative Under Pressure, Says Analyst About ServiceNow Stock

Institutional Investors Weigh In On ServiceNow

Hedge funds have recently modified their holdings of the company. Covenant Asset Management LLC grew its position in ServiceNow by 169.2% in the fourth quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock worth $3,196,000 after acquiring an additional 13,114 shares during the period. Norges Bank acquired a new stake in ServiceNow during the fourth quarter worth $2,020,992,000. World Investment Advisors raised its position in ServiceNow by 411.7% in the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after purchasing an additional 38,583 shares during the period. Cohen Klingenstein LLC raised its position in ServiceNow by 400.0% in the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock valued at $1,532,000 after purchasing an additional 8,000 shares during the period. Finally, Moors & Cabot Inc. lifted its stake in shares of ServiceNow by 387.7% in the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after purchasing an additional 36,274 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 7.4%

The firm has a market capitalization of $101.83 billion, a PE ratio of 61.73, a PEG ratio of 1.60 and a beta of 0.96. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average price of $104.70 and a two-hundred day moving average price of $107.77.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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. ServiceNow had a return on equity of 16.63% and a net margin of 11.34%.The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period last year, the company earned $0.81 EPS. The company’s quarterly revenue was up 24.0% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 2.33 EPS for the current fiscal year.

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.