ServiceNow (NYSE:NOW – Get Free Report) was upgraded by research analysts at CLSA to a “moderate sell” rating in a research note issued on Monday,Zacks.com reports.
Other analysts also recently issued reports about the company. Bank of America initiated coverage on ServiceNow in a research note on Monday, May 18th. They set a “buy” rating and a $130.00 price objective for the company. KeyCorp set a $85.00 target price on ServiceNow and gave the company an “underweight” rating in a report on Thursday, April 23rd. Citic Securities cut their price target on ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. TD Cowen restated a “buy” rating and set a $140.00 price target on shares of ServiceNow in a research note on Friday. Finally, Raymond James Financial lowered their price objective on shares of ServiceNow from $160.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.12.
Check Out Our Latest Report on ServiceNow
ServiceNow Trading Up 1.6%
ServiceNow (NYSE:NOW – Get Free Report) last announced its 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 net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Analysts expect that ServiceNow will post 2.33 earnings per share for the current year.
Insiders Place Their Bets
In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,071 shares of company stock valued at $2,529,956 over the last 90 days. 0.34% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On ServiceNow
Large investors have recently made changes to their positions in the stock. Millstone Evans Group LLC increased its holdings in ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of 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 worth $25,000 after acquiring an additional 135 shares in the last quarter. Blueline Advisors LLC purchased a new stake in shares of ServiceNow during the 4th quarter worth approximately $25,000. Measured Wealth Private Client Group LLC boosted its stake in shares of ServiceNow by 560.0% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 140 shares in the last quarter. Finally, Wealth Watch Advisors INC grew its holdings in shares of ServiceNow by 432.3% in the 4th quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 134 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.
More ServiceNow News
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: Cantor Fitzgerald raised its price target on ServiceNow to $141 from $122 and reiterated an overweight view, signaling confidence that the stock can recover from current levels. Benzinga report
- Positive Sentiment: Analysts and bullish articles argue ServiceNow’s AI strategy is more about execution than disruption, with the company’s workflow platform and recent integration updates with Ciroos and Esri seen as supportive of long-term demand. ServiceNow (NOW) Adds Ciroos And Esri To Bring AI And GIS Into Workflows
- Positive Sentiment: Multiple previews ahead of earnings highlight that ServiceNow’s own numbers have been contradicting the bearish AI narrative, which could help investor sentiment if results hold up. ServiceNow Is Down 51% as Wall Street Bets AI Will Gut Its Business. July 22 Will Show Who’s Right.
- Positive Sentiment: Commentary from value investors says the stock’s decline may be creating a long-term buying opportunity if fundamentals remain solid, which can support dip-buying interest. Should You Buy ServiceNow (NOW) Before Earnings?
- Neutral Sentiment: Wall Street is focused on upcoming quarterly results and key operating metrics, making the next earnings report the main near-term catalyst for the stock. Unveiling ServiceNow (NOW) Q2 Outlook: Wall Street Estimates for Key Metrics
- Negative Sentiment: A critical ServiceNow code execution flaw is reportedly being exploited in attacks, which could raise security concerns and create a temporary headline overhang. Critical ServiceNow code execution flaw now exploited in attacks
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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