ServiceNow, Inc. (NYSE:NOW – Get Free Report)’s share price traded down 2.1% during trading on Wednesday . The company traded as low as $86.01 and last traded at $87.1140. 21,959,330 shares were traded during mid-day trading, an increase of 2% from the average session volume of 21,436,350 shares. The stock had previously closed at $89.00.
More ServiceNow News
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: ServiceNow and Experian announced a new multi-year global partnership to embed autonomous AI capabilities into workflows such as employee onboarding and third-party risk management, which could deepen platform adoption and expand use cases. Experian Partners With ServiceNow to Scale Trusted Decisioning to Agentic AI
- Positive Sentiment: ServiceNow also expanded AI and automation partnerships with Accenture and FedEx Dataworks, signaling stronger enterprise demand for its workflow platform and potential conversion of pilot projects into full production deployments. ServiceNow AI Partnerships Aim To Turn Pilot Projects Into Core Workflows
- Positive Sentiment: The company completed a $4 billion multi-tranche debt offering, which should improve financing flexibility even though it increases leverage. ServiceNow Completes $4 Billion Multi-Tranche Debt Offering
- Neutral Sentiment: Commentary from analysts highlights ServiceNow’s expanding customer base, 22% subscription revenue growth, and strong remaining performance obligations visibility, reinforcing expectations for continued top-line growth. Can an Expanding Clientele Boost ServiceNow’s Top-Line Growth?
- Negative Sentiment: Some market coverage and options activity suggest the stock has been under pressure recently, reflecting lingering concerns about valuation and post-earnings weakness. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Morgan Stanley decreased their target price on ServiceNow from $210.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Citizens Jmp reaffirmed a “market outperform” rating and issued a $157.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. DA Davidson reaffirmed a “buy” rating and issued a $190.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Capital One Financial raised their price target on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Finally, Truist Financial decreased their price target on ServiceNow from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $144.71.
ServiceNow Trading Up 5.1%
The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $100.89 and a 200 day simple moving average of $129.31. The firm has a market capitalization of $98.10 billion, a P/E ratio of 56.71, a PEG ratio of 1.54 and a beta of 0.82.
ServiceNow (NYSE:NOW – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. As a group, research analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current year.
Insider Transactions at ServiceNow
In other news, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the transaction, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Fipps sold 9,641 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total value of $1,021,271.13. Following the transaction, the insider owned 11,757 shares of the company’s stock, valued at approximately $1,245,419.01. The trade was a 45.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 22,415 shares of company stock valued at $2,210,933. Company insiders own 0.34% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in NOW. IAG Wealth Partners LLC grew its position in ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 18 shares in the last quarter. Noble Wealth Management PBC increased its stake in ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 128 shares during the last quarter. Millstone Evans Group LLC increased its stake in ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its stake in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Finally, Blueline Advisors LLC bought a new stake in ServiceNow during the fourth quarter worth approximately $25,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.
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.
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