ServiceNow (NYSE:NOW) Trading 1% Higher Following Analyst Upgrade

Key Points

• ServiceNow shares rose 1% after Truist Financial increased its price target to $130 from $120 and reiterated a buy rating. The stock traded as high as $109.25 during the session.
• Broker sentiment remains broadly positive, with ServiceNow carrying a Moderate Buy consensus rating and an average price target of $141.47. Recent analyst actions have been mixed, though, with some firms cutting targets while others raised them.
• Insider selling has been notable recently, including transactions by Paul Fipps and Director Anita M. Sands, with insiders selling 28,071 shares over the last three months. Even so, institutional investors still own 87.18% of the stock.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) rose 1% during trading on Thursday after Truist Financial raised their price target on the stock from $120.00 to $130.00. Truist Financial currently has a buy rating on the stock. ServiceNow traded as high as $109.25 and last traded at $108.8840. 14,120,259 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 23,915,439 shares. The stock had previously closed at $107.78.

NOW has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their price target on shares of ServiceNow from $195.00 to $145.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Guggenheim upgraded shares of ServiceNow from a "neutral" rating to a "buy" rating and set a $125.00 price target on the stock in a report on Wednesday, July 1st. Cantor Fitzgerald set a $130.00 price target on shares of ServiceNow in a research report on Monday, June 15th. Oppenheimer restated an "outperform" rating on shares of ServiceNow in a report on Tuesday, May 26th. Finally, Wells Fargo & Company lowered their price objective on ServiceNow from $185.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $141.47.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares of the company's stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anita M. Sands sold 16,445 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the sale, the director owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. Insiders own 0.34% of the company's stock.

Key Headlines Impacting ServiceNow

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 kept a buy rating, reinforcing the bullish analyst view on the stock. ServiceNow price target raised by Truist Financial
• Positive Sentiment: Multiple articles highlight improving sentiment around ServiceNow’s AI-driven software story, including discussion of agentic AI momentum and a friendlier analyst tone. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Positive Sentiment: ServiceNow is also benefiting from a broader rotation back into beaten-down software stocks, which has helped lift shares recently. ServiceNow (NOW) Stock Is Up, What You Need To Know
• Neutral Sentiment: Commentary pieces suggest investors are still debating ServiceNow’s valuation and long-term AI impact, so the stock may continue to trade on sentiment rather than fresh fundamentals. Why ServiceNow Is My H2 2026 Top Pick
• Negative Sentiment: Some investors remain concerned about ServiceNow’s future growth outlook, with one recent article noting the market is worried about the company’s prospects. Why ServiceNow Stock Plunged 36% in the First Half of the Year

Institutional Investors Weigh In On ServiceNow

A number of large investors have recently made changes to their positions in NOW. Sapient Capital LLC boosted its holdings in shares of ServiceNow by 266.0% in the second quarter. Sapient Capital LLC now owns 77,661 shares of the information technology services provider's stock worth $7,710,000 after buying an additional 56,444 shares during the last quarter. Focus Financial Network Inc. increased its holdings in ServiceNow by 9.0% during the second quarter. Focus Financial Network Inc. now owns 43,630 shares of the information technology services provider's stock valued at $4,332,000 after buying an additional 3,608 shares during the last quarter. Fluent Financial LLC increased its holdings in ServiceNow by 164.8% during the second quarter. Fluent Financial LLC now owns 24,717 shares of the information technology services provider's stock valued at $2,454,000 after buying an additional 15,382 shares during the last quarter. Legacy Wealth Asset Management LLC raised its position in ServiceNow by 3.9% in the second 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 during the period. Finally, Deane Retirement Strategies Inc. raised its position in ServiceNow by 10.0% in the second quarter. Deane Retirement Strategies Inc. now owns 48,758 shares of the information technology services provider's stock worth $4,842,000 after acquiring an additional 4,450 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 1.0%

The company's 50 day moving average price is $101.74 and its two-hundred day moving average price is $111.62. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a market cap of $112.26 billion, a PE ratio of 64.89, a PEG ratio of 1.84 and a beta of 0.96.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. The firm had revenue of $3.77 billion during 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%.ServiceNow's revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. On average, equities research analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

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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