ServiceNow (NYSE:NOW) Shares Up 1.5% on Analyst Upgrade

ServiceNow, Inc. (NYSE:NOW) shares traded up 1.5% on Thursday after Argus raised their price target on the stock from $134.00 to $170.00. Argus currently has a buy rating on the stock. ServiceNow traded as high as $142.51 and last traded at $139.9210. Approximately 11,275,272 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 21,871,850 shares. The stock had previously closed at $137.87.

Several other research analysts have also issued reports on the company. UBS Group restated a “neutral” rating and set a $150.00 target price (up from $110.00) on shares of ServiceNow in a research report on Tuesday. Evercore reissued an “outperform” rating and set a $160.00 price target on shares of ServiceNow in a research note on Thursday, July 23rd. Citigroup reaffirmed a “market outperform” rating on shares of ServiceNow in a research report on Tuesday. KeyCorp reiterated an “underweight” rating on shares of ServiceNow in a research note on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on ServiceNow from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.46.

Insider Activity at ServiceNow

In related news, insider Jacqueline Canney sold 7,847 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $138.00, for a total value of $1,082,886.00. Following the transaction, the insider owned 30,042 shares of the company’s stock, valued at $4,145,796. This represents a 20.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total value of $365,850.00. Following the transaction, the director owned 43,990 shares in the company, valued at $5,960,645. The trade was a 5.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 14,081 shares of company stock worth $1,937,904. Company insiders own 0.34% of the company’s stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Argus raised its price target for ServiceNow from $134 to $170 and maintained a “buy” rating, citing potential upside as investor sentiment toward the company improves. ServiceNow Stock Price Target Raised at Argus
• Positive Sentiment: UBS reported that third-quarter demand trends appear stable to improving, with growing interest in AI and security products supporting ServiceNow’s growth outlook. ServiceNow demand trends show improvement as UBS raises price target
• Positive Sentiment: Raleigh, North Carolina, is using ServiceNow’s AI agents to reduce IT service-desk costs by 66%, providing a concrete example of productivity gains that could help drive public-sector and enterprise adoption. Raleigh reduces IT service desk costs with ServiceNow AI agents
• Positive Sentiment: ServiceNow’s Armis cybersecurity business partnered with Core6 to extend cyber-exposure monitoring to storage and backup systems, broadening the company’s security product opportunity. Core6 announces partnership with Armis from ServiceNow
• Positive Sentiment: Bundesliga selected ServiceNow as its official CRM partner after reporting that its platform resolved 89% of fan questions at first contact, offering another reference customer for the company’s CRM expansion. Bundesliga expands use of ServiceNow CRM
• Neutral Sentiment: ServiceNow will report third-quarter 2026 results after the market closes on October 28. The announcement creates a near-term catalyst, with results and management commentary on AI demand likely to determine the next major move. ServiceNow third-quarter 2026 earnings announcement
• Negative Sentiment: Zacks highlighted that ServiceNow shares remain vulnerable to AI competition and valuation concerns; despite long-term adoption and cybersecurity opportunities, the stock’s premium earnings multiple leaves less room for disappointment. NOW is overvalued at 28.92 times P/E

Institutional Trading of ServiceNow

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Financial Management LLC grew its holdings in ServiceNow by 72.8% during the 2nd quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 107 shares in the last quarter. CrossGen Wealth LLC purchased a new position in ServiceNow during the 1st quarter valued at about $29,000. Marquette Asset Management LLC raised its holdings in shares of ServiceNow by 75.0% in the 2nd quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 129 shares in the last quarter. Kilter Group LLC purchased a new stake in shares of ServiceNow in the 2nd quarter worth approximately $31,000. Finally, Howard Hughes Medical Institute lifted its position in shares of ServiceNow by 404.5% in the 4th quarter. Howard Hughes Medical Institute now owns 222 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 178 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 1.5%

The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $131.68 and its 200-day moving average price is $111.95. The stock has a market capitalization of $144.68 billion, a P/E ratio of 87.45, a P/E/G ratio of 2.53 and a beta of 0.99.

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, beating the consensus estimate of $0.86 by $0.04. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. ServiceNow’s revenue was up 24.0% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share. As a group, equities research analysts expect that ServiceNow, Inc. will post 2.22 earnings per share for the current year.

ServiceNow Company Profile

ServiceNow, Inc is a cloud-based enterprise software company that helps organizations digitize, automate and manage workflows. Its platform connects people, processes and systems across departments, enabling businesses to replace manual, disconnected activities with standardized digital workflows.

The company’s products and services support a range of functions, including information technology service management, IT operations management, customer service, human resources, risk and security operations, and software development.