Investment Analysts’ Weekly Ratings Changes for ServiceNow (NOW)

A number of firms have modified their ratings and price targets on shares of ServiceNow (NYSE: NOW) recently:

• 12/13/2024 – ServiceNow was downgraded by analysts at KeyCorp from an “overweight” rating to a “sector weight” rating.
• 12/13/2024 – ServiceNow had its price target raised by analysts at Mizuho from $1,070.00 to $1,210.00. They now have an “outperform” rating on the stock.
• 12/12/2024 – ServiceNow had its price target raised by analysts at Truist Financial Co. from $900.00 to $1,100.00. They now have a “hold” rating on the stock.
• 12/10/2024 – ServiceNow had its price target raised by analysts at TD Cowen from $1,025.00 to $1,300.00. They now have a “buy” rating on the stock.
• 12/5/2024 – ServiceNow had its price target raised by analysts at Wells Fargo & Company from $1,150.00 to $1,250.00. They now have an “overweight” rating on the stock.
• 12/3/2024 – ServiceNow had its price target raised by analysts at Oppenheimer Holdings Inc. from $1,020.00 to $1,150.00. They now have an “outperform” rating on the stock.
• 12/2/2024 – ServiceNow had its price target raised by analysts at Jefferies Financial Group Inc. from $1,100.00 to $1,250.00. They now have a “buy” rating on the stock.
• 11/25/2024 – ServiceNow had its price target raised by analysts at Needham & Company LLC from $1,075.00 to $1,150.00. They now have a “buy” rating on the stock.
• 11/19/2024 – ServiceNow is now covered by analysts at Scotiabank. They set a “sector outperform” rating and a $1,230.00 price target on the stock.
• 11/19/2024 – ServiceNow had its price target raised by analysts at Mizuho from $980.00 to $1,070.00. They now have an “outperform” rating on the stock.
• 11/18/2024 – ServiceNow was upgraded by analysts at Scotiabank to a “strong-buy” rating.
• 11/12/2024 – ServiceNow had its price target raised by analysts at Wells Fargo & Company from $1,050.00 to $1,150.00. They now have an “overweight” rating on the stock.
• 11/12/2024 – ServiceNow was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/25/2024 – ServiceNow had its price target raised by analysts at Citigroup Inc. from $1,068.00 to $1,071.00. They now have a “buy” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at KeyCorp from $1,020.00 to $1,040.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Wells Fargo & Company from $1,025.00 to $1,050.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Piper Sandler from $850.00 to $1,000.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at JPMorgan Chase & Co. from $820.00 to $950.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Barclays PLC from $980.00 to $1,000.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Sanford C. Bernstein from $906.00 to $913.00. They now have an “outperform” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Royal Bank of Canada from $985.00 to $1,045.00. They now have an “outperform” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Evercore ISI from $950.00 to $1,000.00. They now have an “outperform” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Robert W. Baird from $900.00 to $975.00. They now have an “outperform” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Stifel Nicolaus from $900.00 to $990.00. They now have a “buy” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Needham & Company LLC from $900.00 to $1,075.00. They now have a “buy” rating on the stock.
• 10/24/2024 – ServiceNow had its price target raised by analysts at Canaccord Genuity Group Inc. from $850.00 to $1,000.00. They now have a “buy” rating on the stock.
• 10/23/2024 – ServiceNow had its price target raised by analysts at Truist Financial Co. from $780.00 to $900.00. They now have a “hold” rating on the stock.
• 10/21/2024 – ServiceNow was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $960.00 price target on the stock, up previously from $900.00.
• 10/21/2024 – ServiceNow had its price target raised by analysts at TD Cowen from $900.00 to $1,000.00. They now have a “buy” rating on the stock.

ServiceNow Price Performance

ServiceNow stock traded down $14.73 during midday trading on Tuesday, reaching $1,115.20. The company’s stock had a trading volume of 938,320 shares, compared to its average volume of 1,277,594. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s 50 day simple moving average is $1,011.30 and its 200 day simple moving average is $876.30. The firm has a market capitalization of $229.73 billion, a PE ratio of 173.44, a P/E/G ratio of 6.58 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 earnings per share. On average, equities research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the sale, the director now owns 10,467 shares in the company, valued at $10,968,892.65. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at $11,710,600. This trade represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock valued at $20,861,626 in the last 90 days. 0.25% of the stock is currently owned by insiders.

Institutional Trading of ServiceNow

A number of institutional investors have recently modified their holdings of the company. State Street Corp grew its holdings in shares of ServiceNow by 2.6% during the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after purchasing an additional 226,023 shares during the period. FMR LLC grew its holdings in shares of ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares during the period. World Investment Advisors LLC grew its holdings in shares of ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. Geode Capital Management LLC grew its holdings in shares of ServiceNow by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after purchasing an additional 78,378 shares during the period. Finally, Wellington Management Group LLP lifted its position in ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after acquiring an additional 615,797 shares in the last quarter. 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.