ServiceNow (NYSE:NOW) Shares Up 10.2% – Here’s What Happened

ServiceNow, Inc. (NYSE:NOW)’s stock price rose 10.2% during trading on Friday . The company traded as high as $98.92 and last traded at $98.6440. 26,951,536 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 24,195,422 shares. The stock had previously closed at $89.52.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a sector rotation into software, with traders favoring software stocks over chips amid a broader tech sell-off. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
• Positive Sentiment: Oppenheimer reaffirmed an Outperform rating and $130 price target on ServiceNow after speaking with management, citing optimism around AI growth, the Cognizant partnership, and a possible reacceleration in the second half of 2026. Oppenheimer Reaffirms Bullish Outlook on ServiceNow (NOW) Amid AI Growth and Cognizant Partnership
• Positive Sentiment: Several recent articles frame ServiceNow as undervalued relative to its business quality, which may be supporting sentiment around the stock. ServiceNow: An Excellent Business Trading at a Discount
• Neutral Sentiment: Broader commentary on the AI trade suggests investors are reassessing winners and losers in tech, which could keep NOW volatile even as software holds up better than chips. The AI Selloff Is Getting Brutal: 10 Tech Giants Already Deep in Bear Market Territory
• Neutral Sentiment: Recent coverage comparing Salesforce and ServiceNow highlights steady revenue growth at NOW, but does not indicate a new catalyst on its own. Salesforce vs. ServiceNow: What Do Their Revenue Trends Tell Investors?

Analyst Ratings Changes

A number of equities research analysts have issued reports on NOW shares. BTIG Research restated a “buy” rating and set a $150.00 price objective on shares of ServiceNow in a research report on Monday, May 4th. Benchmark boosted their target price on ServiceNow from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Citigroup increased their price target on ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Evercore raised their price target on ServiceNow from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, KeyCorp set a $85.00 price objective on shares of ServiceNow and gave the stock an “underweight” rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.17.

ServiceNow Stock Up 10.2%

The firm has a market cap of $101.70 billion, a PE ratio of 58.79, a price-to-earnings-growth ratio of 1.56 and a beta of 0.94. The company has a 50-day simple moving average of $100.01 and a 200-day simple moving average of $115.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the sale, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Hedge funds have recently added to or reduced their stakes in the stock. IAG Wealth Partners LLC boosted its holdings in shares of ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares during the period. Noble Wealth Management PBC increased its holdings in ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 128 shares during the period. Millstone Evans Group LLC raised its position in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its position in ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Finally, Blueline Advisors LLC purchased a new stake in shares of ServiceNow in the 4th quarter worth $25,000. 87.18% of the stock is currently owned by institutional investors.

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.