ServiceNow (NYSE:NOW) Price Target Raised to $170.00

ServiceNow (NYSE:NOW) had its price objective boosted by Argus from $134.00 to $170.00 in a research note released on Wednesday,Benzinga reports. Argus currently has a buy rating on the information technology services provider’s stock.

Several other analysts have also weighed in on NOW. Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. Sanford C. Bernstein reissued an “outperform” rating on shares of ServiceNow in a research note on Wednesday, September 9th. Cantor Fitzgerald increased their target price on shares of ServiceNow from $141.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, September 21st. UBS Group restated a “neutral” rating and issued a $150.00 price target (up from $110.00) on shares of ServiceNow in a research note on Tuesday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $140.00 price target (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $146.46.

ServiceNow Stock Up 0.6%

Shares of NOW opened at $140.64 on Wednesday. The firm has a 50 day simple moving average of $132.86 and a two-hundred day simple moving average of $112.35. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. ServiceNow has a one year low of $81.24 and a one year high of $192.97. The company has a market cap of $145.42 billion, a P/E ratio of 87.90, a P/E/G ratio of 2.57 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter last year, the business posted $0.81 EPS. The company’s revenue was up 24.0% compared to the same quarter last year. Research analysts forecast that ServiceNow will post 2.22 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 7,847 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. This trade represents a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 Paul Fipps sold 2,034 shares of ServiceNow stock in a transaction on Monday, August 31st. The stock was sold at an average price of $147.87, for a total transaction of $300,767.58. Following the transaction, the insider owned 18,305 shares in the company, valued at approximately $2,706,760.35. This trade represents a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,081 shares of company stock worth $1,937,904 in the last quarter. 0.34% of the stock is owned by insiders.

Institutional Trading of ServiceNow

A number of institutional investors and hedge funds have recently bought and sold shares of NOW. BlackRock Inc. acquired a new stake in shares of ServiceNow in the second quarter valued at about $9,536,615,000. State Street Corp lifted its stake in shares of ServiceNow by 406.6% in the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after acquiring an additional 38,441,898 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of ServiceNow by 417.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,004,910 shares of the information technology services provider’s stock worth $2,145,412,000 after acquiring an additional 11,295,806 shares during the period. Nuveen LLC boosted its holdings in ServiceNow by 342.6% in the fourth quarter. Nuveen LLC now owns 9,530,753 shares of the information technology services provider’s stock valued at $1,460,016,000 after acquiring an additional 7,377,244 shares during the last quarter. Finally, Amundi boosted its holdings in ServiceNow by 60.9% in the first quarter. Amundi now owns 11,479,098 shares of the information technology services provider’s stock valued at $1,200,140,000 after acquiring an additional 4,346,722 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Wall Street analysts remain optimistic about ServiceNow, with consensus expectations pointing to additional upside. The company’s consensus price target was reportedly raised 21.44% to MX$2,801.60, while Argus also increased its target. Wall Street Bulls Look Optimistic About ServiceNow ServiceNow Consensus Price Target Increased
• Positive Sentiment: Raleigh, North Carolina, has deployed ServiceNow’s AI-powered IT Service Desk Specialist and reportedly reduced service-desk costs by 66%. The customer case provides tangible evidence that NOW’s AI agents can improve productivity and support public-sector expansion. Raleigh Reduces IT Service Desk Costs
• Positive Sentiment: A partnership between Core6 and ServiceNow’s Armis combines storage-security monitoring with cyber-exposure management. The integration strengthens ServiceNow’s cybersecurity offering and could broaden its addressable market. Core6 Announces Partnership with Armis
• Neutral Sentiment: NOW recently advanced even as the broader market weakened, indicating relative investor resilience, although the report identified no major new fundamental catalyst beyond ongoing analyst support. ServiceNow Increases Despite Market Slip
• Negative Sentiment: Valuation remains a concern. Commentary describes ServiceNow as expensive and notes that AI competition has pressured the shares, despite growth opportunities from AI adoption and cybersecurity. NOW Is Overvalued
• Negative Sentiment: Investors are also weighing competitive comparisons with CrowdStrike and other technology vendors, which could limit multiple expansion if ServiceNow’s AI growth does not accelerate. CrowdStrike vs. ServiceNow

About ServiceNow

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.