ServiceNow (NOW) – Investment Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for ServiceNow (NYSE: NOW):

• 4/26/2024 – ServiceNow was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 4/25/2024 – ServiceNow had its price target lowered by analysts at KeyCorp from $1,000.00 to $950.00. They now have an “overweight” rating on the stock.
• 4/25/2024 – ServiceNow had its price target raised by analysts at Morgan Stanley from $814.00 to $830.00. They now have an “overweight” rating on the stock.
• 4/25/2024 – ServiceNow had its “outperform” rating reaffirmed by analysts at William Blair.
• 4/25/2024 – ServiceNow had its price target lowered by analysts at BMO Capital Markets from $850.00 to $830.00. They now have an “outperform” rating on the stock.
• 4/25/2024 – ServiceNow had its price target lowered by analysts at UBS Group AG from $920.00 to $875.00. They now have a “buy” rating on the stock.
• 4/25/2024 – ServiceNow had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $900.00 price target on the stock.
• 4/23/2024 – ServiceNow had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $825.00 price target on the stock.
• 4/18/2024 – ServiceNow had its price target raised by analysts at Citigroup Inc. from $896.00 to $906.00. They now have a “buy” rating on the stock.
• 4/16/2024 – ServiceNow had its price target raised by analysts at Wells Fargo & Company from $875.00 to $900.00. They now have an “overweight” rating on the stock.
• 4/16/2024 – ServiceNow had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $900.00 price target on the stock.
• 4/15/2024 – ServiceNow had its “neutral” rating reaffirmed by analysts at Guggenheim.
• 4/15/2024 – ServiceNow had its price target raised by analysts at UBS Group AG from $885.00 to $920.00. They now have a “buy” rating on the stock.
• 4/10/2024 – ServiceNow had its price target raised by analysts at Jefferies Financial Group Inc. from $885.00 to $900.00. They now have a “buy” rating on the stock.
• 3/21/2024 – ServiceNow is now covered by analysts at KeyCorp. They set an “overweight” rating and a $1,000.00 price target on the stock.
• 3/20/2024 – ServiceNow had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $820.00 price target on the stock.
• 3/14/2024 – ServiceNow had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $820.00 price target on the stock.

ServiceNow Stock Up 1.5 %

Shares of NYSE:NOW traded up $10.11 during trading hours on Thursday, reaching $695.72. The stock had a trading volume of 1,048,750 shares, compared to its average volume of 1,217,341. ServiceNow, Inc. has a 1 year low of $428.97 and a 1 year high of $815.32. The firm’s 50 day moving average is $755.91 and its 200-day moving average is $711.97. The stock has a market capitalization of $142.89 billion, a price-to-earnings ratio of 74.41, a P/E/G ratio of 4.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul John Smith sold 1,180 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,369 shares of company stock valued at $8,538,300. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of ServiceNow

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after acquiring an additional 122,577 shares during the period. FMR LLC increased its holdings in shares of ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after purchasing an additional 595,697 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of ServiceNow by 2.2% in the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after purchasing an additional 53,719 shares during the period. Norges Bank purchased a new stake in ServiceNow during the fourth quarter worth about $1,648,259,000. Finally, Massachusetts Financial Services Co. MA grew its position in ServiceNow by 3.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after buying an additional 81,028 shares during the period. Institutional investors and hedge funds 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.