ServiceNow (NYSE:NOW) Stock Keeps “Buy” Rating at BTIG Research

BTIG Research reiterated their buy rating on shares of ServiceNow (NYSE:NOW) in a report published on Monday,Benzinga reports. They currently have a $170.00 target price on the information technology services provider’s stock.

Several other analysts have also recently commented on the stock. Weiss Ratings upgraded shares of ServiceNow from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $130.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. Morgan Stanley set a $180.00 price objective on shares of ServiceNow in a research note on Tuesday, July 21st. Piper Sandler reiterated an “overweight” rating and issued a $140.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. Finally, BMO Capital Markets lifted their target price on shares of ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $147.95.

ServiceNow Trading Down 0.5%

Shares of NYSE NOW opened at $140.18 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow has a one year low of $81.24 and a one year high of $192.97. The business has a 50-day moving average price of $133.38 and a two-hundred day moving average price of $112.62. The firm has a market capitalization of $144.95 billion, a PE ratio of 87.61, a PEG ratio of 2.59 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. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. As a group, analysts predict that ServiceNow will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline Canney sold 7,847 shares of ServiceNow stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the sale, the insider directly owned 30,042 shares in the company, valued at $4,145,796. The trade was 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 available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of the sale, the director directly owned 43,990 shares of the company’s stock, valued at $5,960,645. This represents a 5.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,081 shares of company stock worth $1,937,904 over the last ninety days. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceNow

Large investors have recently bought and sold shares of the business. A. D. Beadell Investment Counsel Inc. raised its stake in shares of ServiceNow by 2.9% in the second quarter. A. D. Beadell Investment Counsel Inc. now owns 2,818 shares of the information technology services provider’s stock valued at $279,000 after acquiring an additional 80 shares during the last quarter. Atwood & Palmer Inc. boosted its holdings in shares of ServiceNow by 20.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 600 shares of the information technology services provider’s stock worth $60,000 after acquiring an additional 100 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in ServiceNow by 25.2% during the 1st quarter. Capital Advisors Ltd. LLC now owns 516 shares of the information technology services provider’s stock worth $54,000 after acquiring an additional 104 shares during the last quarter. Cornerstone Financial Management LLC grew its position in ServiceNow by 72.8% during the 2nd quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 107 shares during the last quarter. Finally, Symphony Financial Ltd. Co. increased its holdings in ServiceNow by 1.5% during the 2nd quarter. Symphony Financial Ltd. Co. now owns 7,584 shares of the information technology services provider’s stock valued at $757,000 after purchasing an additional 115 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Analyst confidence ahead of earnings: Wall Street analysts maintain a Buy-oriented view before third-quarter results, citing strong demand for ServiceNow’s enterprise AI offerings and potential growth in federal-government spending. ServiceNow Gets Wall Street’s Vote of Confidence Ahead of Earnings
• Positive Sentiment: Higher price targets: RBC raised its ServiceNow target from $130 to $176 and reiterated an Outperform rating, while BTIG reaffirmed Buy with a $170 target. The revisions suggest analysts see additional upside if growth expectations hold. ServiceNow Shares Gap Up on Analyst Upgrade
• Positive Sentiment: AI product momentum: Sakon introduced Ask Milo, an AI companion for enterprise telecom built on ServiceNow, providing another example of customers and partners expanding use of the company’s platform. Sakon Introduces Ask Milo on ServiceNow
• Positive Sentiment: Recent fundamentals remain strong: ServiceNow’s latest reported quarter exceeded consensus estimates, with revenue up 24% year over year, reinforcing the growth case behind the recent share-price increase.
• Neutral Sentiment: Comparisons with Salesforce frame ServiceNow as the faster-growing, AI-focused option, but the choice depends on whether investors prioritize growth or balance-sheet strength and valuation. Salesforce vs. ServiceNow
• Negative Sentiment: After its substantial six-month advance, ServiceNow faces higher expectations; its elevated earnings multiple increases the risk of profit-taking or a disappointing reaction if upcoming results or guidance fail to justify the valuation. ServiceNow: 3 Reasons We Love This Stock

ServiceNow Company Profile

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.