ServiceNow (NYSE:NOW) Stock Gets Price Target Trim from TD Cowen

ServiceNow (NYSE:NOW) had its target price cut by TD Cowen from $165.00 to $160.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

A number of other brokerages have also issued reports on NOW. Robert W. Baird set a $185.00 price target on ServiceNow in a research report on Thursday. Barclays set a $152.00 price objective on shares of ServiceNow and gave the stock an “overweight” rating in a report on Thursday. Truist Financial set a $150.00 target price on shares of ServiceNow and gave the company a “buy” rating in a research report on Thursday. Sanford C. Bernstein reissued an “outperform” rating and set a $266.00 target price on shares of ServiceNow in a research note on Tuesday, October 20th. Finally, Mizuho set a $165.00 price target on shares of ServiceNow in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $154.50.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $105.12 on Thursday. The firm’s 50 day moving average is $138.71 and its two-hundred day moving average is $115.45. The firm has a market capitalization of $109.11 billion, a P/E ratio of 75.63, a PEG ratio of 1.94 and a beta of 0.99. The company has a current ratio of 0.72, a quick ratio of 0.70 and a debt-to-equity ratio of 0.42. ServiceNow has a 52 week low of $81.24 and a 52 week high of $189.53.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.02). ServiceNow had a return on equity of 15.17% and a net margin of 9.36%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the prior year, the firm posted $4.82 earnings per share. The business’s quarterly revenue was up 20.5% on a year-over-year basis. Analysts anticipate that ServiceNow will post 2.14 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline Canney sold 7,847 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the completion of the sale, the insider owned 30,042 shares in the company, valued at approximately $4,145,796. This represents a 20.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 2,034 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the sale, the insider directly owned 18,305 shares of the company’s stock, valued at approximately $2,706,760.35. This represents a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 14,081 shares of company stock valued at $1,937,904. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of ServiceNow

A number of hedge funds have recently bought and sold shares of NOW. BlackRock Inc. bought a new stake in ServiceNow in the 2nd quarter valued at $9,536,615,000. State Street Corp grew its position in ServiceNow by 2.0% in the 2nd quarter. State Street Corp now owns 49,038,218 shares of the information technology services provider’s stock worth $4,868,514,000 after purchasing an additional 979,726 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of ServiceNow by 16.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,638,071 shares of the information technology services provider’s stock worth $1,651,828,000 after purchasing an additional 2,362,606 shares during the period. Amundi increased its holdings in shares of ServiceNow by 60.9% during the 1st quarter. Amundi now owns 11,479,098 shares of the information technology services provider’s stock worth $1,200,140,000 after purchasing an additional 4,346,722 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of ServiceNow by 6.5% during the 1st quarter. Bank of New York Mellon Corp now owns 8,526,931 shares of the information technology services provider’s stock worth $891,491,000 after purchasing an additional 518,263 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow reported 20.5% year-over-year revenue growth, supported by subscription demand, and raised its 2026 artificial-intelligence contract target to $1.7 billion. Management and bullish analysts argue that AI adoption could accelerate growth in 2027. ServiceNow: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Several analysts continue to rate NOW Buy or Overweight despite reducing their price targets. JPMorgan, Piper Sandler, Wells Fargo and Oppenheimer still see substantial long-term upside, suggesting the sell-off may have been excessive. ServiceNow stock is on track for its largest drop on record
• Positive Sentiment: A new partnership with BDO Canada will help organizations govern AI and automate operations using ServiceNow’s platform, providing potential support for future enterprise demand. BDO Canada partners with ServiceNow
• Neutral Sentiment: ServiceNow’s CEO has defended the company’s valuation and long-term opportunity, while a reported $3 million insider stock purchase may signal management confidence. However, such commentary has not offset investor concerns about guidance. ServiceNow CEO makes striking unicorn claim
• Negative Sentiment: The primary catalyst for the sell-off was management’s forecast for slower fourth-quarter current remaining performance obligation growth—about 18.5%, below the approximately 21.5% revenue-growth outlook. Because cRPO represents contracted future revenue, investors viewed the gap as a warning that demand may be weakening. ServiceNow Guides to Slower Backlog Growth
• Negative Sentiment: Third-quarter adjusted earnings of $1.00 per share fell short of the $1.02 consensus estimate. The miss, combined with concerns that AI could disrupt traditional software pricing and demand, overshadowed the revenue beat and higher AI target. ServiceNow shares plunge after earnings
• Negative Sentiment: Investors are also monitoring ServiceNow’s roughly $7.5 billion debt load and rising interest costs, while a shareholder investigation into potential securities-law violations adds reputational and legal uncertainty. ServiceNow’s Debt and Interest Costs Jump

About ServiceNow

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.