ServiceNow, Inc. (NYSE:NOW) Given Consensus Recommendation of “Moderate Buy” by Brokerages

ServiceNow, Inc. (NYSE:NOW) has earned a consensus recommendation of “Moderate Buy” from the forty-two analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, thirty-five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $140.80.

A number of equities analysts have recently commented on the company. DA Davidson reissued a “buy” rating and set a $190.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Piper Sandler reduced their price objective on ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $121.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Stifel Nicolaus dropped their target price on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $145.00 price target (down from $163.00) on shares of ServiceNow in a research note on Wednesday, July 8th.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the transaction, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 28,071 shares of company stock worth $2,529,956 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ServiceNow

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

ServiceNow Stock Performance

NYSE NOW opened at $104.78 on Thursday. The firm’s 50 day simple moving average is $103.52 and its 200 day simple moving average is $109.98. The firm has a market capitalization of $108.03 billion, a price-to-earnings ratio of 62.44, a P/E/G ratio of 1.74 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. ServiceNow has a 1 year low of $81.24 and a 1 year high of $210.20.

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

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: BNP Paribas said ServiceNow has a “constructive setup” for Q2 results, pointing to conservative guidance and improving demand — including healthier federal demand — that could set up an earnings beat. ServiceNow offers ‘constructive setup’ going into Q2 results, BNP says
• Positive Sentiment: UBS raised its price target on NOW to $115 and kept a neutral rating, saying demand trends appear stable and implying some upside from current levels. UBS price target raise
• Positive Sentiment: Several commentary pieces argue the market may be too pessimistic on ServiceNow, with some analysts framing AI as an opportunity rather than a threat and noting the company is raising its AI monetization targets. ServiceNow (NOW) Is Raising Its AI Targets As Investors Shift Toward Software
• Neutral Sentiment: Some pre-earnings notes say ServiceNow may not have the “right combination” for a clear beat, so expectations remain cautious heading into next week’s report. ServiceNow (NOW) Earnings Expected to Grow
• Negative Sentiment: NOW was also dragged lower by a broader software selloff after IBM warned that clients are shifting spending toward servers and cybersecurity, which raised concerns across enterprise software stocks. IBM Plunge Triggers Tech Stock Selloff After Revenue Miss Warning

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.