ServiceNow (NYSE:NOW) Stock Price Target Raised at Royal Bank Of Canada

ServiceNow (NYSE:NOW) had its target price increased by Royal Bank Of Canada from $130.00 to $176.00 in a research note released on Monday morning, Marketbeat reports. They currently have an outperform rating on the information technology services provider’s stock.

A number of other equities analysts have also recently issued reports on NOW. Guggenheim upgraded ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a report on Wednesday, July 1st. UBS Group restated a “neutral” rating and issued a $150.00 price target (up from $110.00) on shares of ServiceNow in a report on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft boosted their price target on ServiceNow from $135.00 to $155.00 and gave the company a “buy” rating in a report on Monday, September 21st. JPMorgan Chase & Co. upped their price objective on ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $190.00 price objective on shares of ServiceNow in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.95.

ServiceNow Stock Down 0.5%

Shares of NOW stock opened at $140.18 on Monday. The firm has a fifty day moving average of $133.38 and a 200-day moving average of $112.62. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow has a 12-month low of $81.24 and a 12-month high of $192.97. The company has a market capitalization of $144.95 billion, a price-to-earnings ratio of 87.61, a P/E/G ratio of 2.59 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period last year, the business posted $0.81 earnings per share. As a group, equities research analysts predict that ServiceNow will post 2.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 7,847 shares of ServiceNow stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $138.00, for a total value of $1,082,886.00. Following the sale, the insider owned 30,042 shares of the company’s stock, valued at approximately $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 can be accessed 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 company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $135.50, for a total value of $365,850.00. Following the sale, the director owned 43,990 shares in the company, valued at $5,960,645. The trade was a 5.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,081 shares of company stock valued at $1,937,904 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Moody National Bank Trust Division increased its holdings in ServiceNow by 3.9% during the third quarter. Moody National Bank Trust Division now owns 13,038 shares of the information technology services provider’s stock worth $1,747,000 after buying an additional 484 shares during the last quarter. Central Pacific Bank Trust Division raised its position in ServiceNow by 7.0% during the third quarter. Central Pacific Bank Trust Division now owns 19,131 shares of the information technology services provider’s stock worth $2,564,000 after acquiring an additional 1,259 shares in the last quarter. Defender Capital LLC. acquired a new stake in ServiceNow in the third quarter valued at $268,000. First Financial Bank Trust Division acquired a new stake in ServiceNow in the third quarter valued at $5,511,000. Finally, Greenwich Wealth Management LLC grew its position in shares of ServiceNow by 5.2% in the 2nd quarter. Greenwich Wealth Management LLC now owns 5,816 shares of the information technology services provider’s stock valued at $577,000 after acquiring an additional 290 shares during the period. 87.18% of the stock is currently owned by institutional investors.

More ServiceNow News

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.