UBS Group Issues Positive Forecast for ServiceNow (NYSE:NOW) Stock Price

ServiceNow (NYSE:NOW) had its price target hoisted by UBS Group from $100.00 to $115.00 in a research report report published on Tuesday morning, MarketBeat reports. UBS Group currently has a neutral rating on the information technology services provider’s stock.

NOW has been the topic of several other reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $135.00 price objective (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. KeyCorp set a $85.00 target price on shares of ServiceNow and gave the stock an “underweight” rating in a report on Thursday, April 23rd. Weiss Ratings lowered shares of ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Cantor Fitzgerald set a $130.00 price target on ServiceNow in a report on Monday, June 15th. Finally, DA Davidson restated a “buy” rating and issued a $190.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $140.60.

ServiceNow Stock Performance

NYSE NOW opened at $104.90 on Tuesday. The firm has a market capitalization of $108.15 billion, a price-to-earnings ratio of 62.51, a P/E/G ratio of 1.85 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow has a 52-week low of $81.24 and a 52-week high of $210.20. The company’s fifty day moving average is $103.20 and its two-hundred day moving average is $110.31.

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

Insider Activity

In other ServiceNow news, 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 transaction of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 in the company, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 28,071 shares of company stock worth $2,529,956. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Institutional investors have recently added to or reduced their stakes in the stock. Covenant Asset Management LLC increased its stake in ServiceNow by 169.2% during the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock valued at $3,196,000 after purchasing an additional 13,114 shares in the last quarter. Norges Bank acquired a new position in shares of ServiceNow during the fourth quarter valued at about $2,020,992,000. World Investment Advisors grew its holdings in shares of ServiceNow by 411.7% during the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after buying an additional 38,583 shares during the last quarter. Cohen Klingenstein LLC increased its position in shares of ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Moors & Cabot Inc. raised its holdings in shares of ServiceNow by 387.7% in the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after acquiring an additional 36,274 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: UBS raised its price target on ServiceNow to $115 from $100, suggesting analysts still see upside and stable demand trends. Benzinga
• Positive Sentiment: New partner and government-contract announcements highlighted continued ecosystem momentum, including C1Secure’s ServiceNow-native FedRAMP 20x platform and Empower AI’s GSA enterprise IT award, both reinforcing ServiceNow’s role in AI-enabled workflow and public-sector modernization. Article Title Article Title
• Positive Sentiment: Recent commentary argues ServiceNow’s AI tools, including Now Assist, could become a stronger monetization driver as investors rotate toward application software. Article Title
• Neutral Sentiment: Several analyst-style articles debated ServiceNow’s valuation and long-term prospects, with some calling it attractive for the rebound and others saying it is not the cheapest name in software. Article Title Article Title
• Negative Sentiment: IBM’s revenue warning triggered a broader selloff in tech and dragged ServiceNow lower along with other enterprise software names like Accenture. Article Title Article Title

About ServiceNow

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.