ServiceNow (NYSE:NOW) Trading 2.7% Higher – Here’s What Happened

Posted by Brenda Bartman on Sep 23rd, 2026

Shares of ServiceNow, Inc. (NYSE:NOW – Get Free Report) were up 2.7% during mid-day trading on Wednesday . The company traded as high as $141.54 and last traded at $140.70. 10,761,491 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 22,616,320 shares. The stock had previously closed at $137.00.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

Positive Sentiment: Enterprise-software rally: ServiceNow participated in a broader advance among software companies even as large-cap technology stocks declined. The iShares Expanded Tech-Software Sector ETF gained, suggesting investors were selectively buying software despite elevated long-term Treasury yields. Enterprise Software Stocks Rally as Tech Tape Slides
Positive Sentiment: Analyst support: Recent coverage indicates an analyst upgrade and continued “Moderate Buy” or positive consensus ratings. Such recommendations can support the stock by reinforcing confidence in ServiceNow’s growth outlook. ServiceNow Shares Up Following Analyst Upgrade
Positive Sentiment: AI demand and partnerships: ServiceNow is benefiting from demand for its workflow platform, AI-focused alliances, cross-selling and an expanding partner ecosystem. Recent commentary also pointed to management raising the midpoint of its 2026 subscription-revenue forecast, strengthening the growth narrative. AI Alliances and Raised Targets Could Be a Game Changer for ServiceNow
Positive Sentiment: Product adoption: Partner INRY deployed ServiceNow EmployeeWorks in six weeks, highlighting the platform’s implementation speed and potential to expand its AI-enabled employee-workflow offering among enterprise customers. INRY Deploys ServiceNow EmployeeWorks
Positive Sentiment: Ecosystem expansion: Xapien is integrating AI-native due-diligence capabilities directly into ServiceNow workflows, adding functionality for onboarding and third-party-risk management. Xapien Partners With ServiceNow
Neutral Sentiment: Valuation remains a consideration: ServiceNow offers faster growth and a strong competitive position versus Salesforce, but Salesforce appears more attractive on valuation and cash generation. Elevated valuation multiples could limit further gains if growth or guidance disappoints. Salesforce vs. ServiceNow

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Truist Financial boosted their price target on ServiceNow from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. DA Davidson set a $170.00 price objective on ServiceNow and gave the stock a “buy” rating in a research note on Monday, July 20th. Cantor Fitzgerald lifted their target price on ServiceNow from $141.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday. TD Cowen reiterated a “buy” rating and issued a $140.00 target price on shares of ServiceNow in a research report on Monday, August 17th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $175.00 price target (up from $160.00) on shares of ServiceNow in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.51.

Read Our Latest Research Report on ServiceNow

ServiceNow Stock Performance

The firm has a fifty day moving average of $124.54 and a 200 day moving average of $110.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $145.48 billion, a price-to-earnings ratio of 87.94, a price-to-earnings-growth ratio of 2.53 and a beta of 0.97.

ServiceNow (NYSE:NOW – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the company posted $0.81 earnings per share. ServiceNow’s revenue for the quarter was up 24.0% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the sale, the director directly owned 43,990 shares of the company’s stock, valued at approximately $5,960,645. This represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul Fipps sold 2,034 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the sale, the insider owned 18,305 shares in the company, valued at approximately $2,706,760.35. This represents a 10.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,081 shares of company stock worth $1,937,904 in the last three months. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

A number of hedge funds have recently bought and sold shares of NOW. Norges Bank purchased a new stake in ServiceNow in the fourth quarter valued at $2,020,992,000. Moors & Cabot Inc. grew its holdings in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after purchasing an additional 36,274 shares during the last quarter. Bank of Nova Scotia increased its position in shares of ServiceNow by 53.3% during the first quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock worth $106,436,000 after purchasing an additional 353,749 shares in the last quarter. Huntington National Bank increased its position in shares of ServiceNow by 397.1% during the fourth quarter. Huntington National Bank now owns 544,257 shares of the information technology services provider’s stock worth $83,375,000 after purchasing an additional 434,761 shares in the last quarter. Finally, Sapient Capital LLC lifted its holdings in shares of ServiceNow by 266.0% in the 2nd quarter. Sapient Capital LLC now owns 77,661 shares of the information technology services provider’s stock valued at $7,710,000 after purchasing an additional 56,444 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Company Profile

(Get Free Report)

ServiceNow, Inc is a cloud-based enterprise software company that provides digital workflow and automation solutions. Its Now Platform enables organizations to manage and connect business processes across information technology, customer service, human resources, finance, legal operations and other departments.

The company’s products and services include IT service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance management, strategic portfolio management and application development tools.