ServiceNow (NYSE:NOW) Given New $130.00 Price Target at Truist Financial

ServiceNow (NYSE:NOW) had its price objective lifted by Truist Financial from $120.00 to $130.00 in a research report report published on Thursday morning, Marketbeat Ratings reports. Truist Financial currently has a buy rating on the information technology services provider’s stock.

A number of other research firms have also recently weighed in on NOW. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of ServiceNow in a research report on Monday, June 29th. Citizens Jmp reissued a “market outperform” rating and issued a $157.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Argus cut their price target on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Jefferies Financial Group restated a “buy” rating and set a $135.00 price target (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, BMO Capital Markets decreased their price target on ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.47.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $108.88 on Thursday. The company has a 50-day simple moving average of $102.11 and a 200-day simple moving average of $111.29. ServiceNow has a one year low of $81.24 and a one year high of $210.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $112.26 billion, a price-to-earnings ratio of 64.89, a PEG ratio of 1.79 and a beta of 0.96.

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

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the sale, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,071 shares of company stock valued at $2,529,956 in the last three months. 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. Revolve Wealth Partners LLC grew its position in ServiceNow by 15.3% during the second quarter. Revolve Wealth Partners LLC now owns 4,971 shares of the information technology services provider’s stock worth $494,000 after buying an additional 658 shares during the period. Sapient Capital LLC increased its holdings in ServiceNow by 266.0% in the second quarter. Sapient Capital LLC now owns 77,661 shares of the information technology services provider’s stock valued at $7,710,000 after buying an additional 56,444 shares in the last quarter. Focus Financial Network Inc. lifted its position in shares of ServiceNow by 9.0% during the 2nd quarter. Focus Financial Network Inc. now owns 43,630 shares of the information technology services provider’s stock valued at $4,332,000 after acquiring an additional 3,608 shares during the period. Fluent Financial LLC lifted its position in shares of ServiceNow by 164.8% during the 2nd quarter. Fluent Financial LLC now owns 24,717 shares of the information technology services provider’s stock valued at $2,454,000 after acquiring an additional 15,382 shares during the period. Finally, Legacy Wealth Asset Management LLC boosted its stake in shares of ServiceNow by 3.9% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 13,656 shares of the information technology services provider’s stock worth $1,356,000 after acquiring an additional 507 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Truist Financial raised its price target on ServiceNow to $130 from $120 and reiterated a buy rating, signaling confidence in further upside for the stock.
• Positive Sentiment: Several recent articles highlighted ServiceNow as a strong AI/software name, with commentary suggesting the market is becoming more constructive on the company’s long-term growth story.
• Positive Sentiment: An article on “final trades” and other media coverage kept ServiceNow in the spotlight, reinforcing investor interest and supporting sentiment around the stock.
• Neutral Sentiment: ServiceNow was also mentioned in broader cloud and software market discussions, including an AI trade rotation away from semiconductors and toward software, which may be helping the stock but does not reflect company-specific news. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Other coverage noted that ServiceNow is consolidating after recent moves, suggesting traders are digesting the stock’s valuation and AI expectations rather than reacting to a single new catalyst. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Some recent pieces continued to question the stock’s performance this year and pointed to investor concern about the company’s future growth, which may cap enthusiasm.

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.