ServiceNow (NYSE:NOW) Given New $125.00 Price Target at Robert W. Baird

ServiceNow (NYSE:NOW) had its price objective increased by Robert W. Baird from $118.00 to $125.00 in a report issued on Thursday morning,Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

A number of other analysts also recently weighed in on NOW. Cantor Fitzgerald lifted their price target on ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday. Weiss Ratings lowered ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 10th. KeyCorp reiterated an “underweight” rating on shares of ServiceNow in a research report on Tuesday. Canaccord Genuity Group reduced their target price on ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Finally, Citic Securities decreased their target price on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $143.39.

ServiceNow Trading Down 3.5%

NYSE NOW opened at $92.15 on Thursday. The stock has a market capitalization of $95.00 billion, a P/E ratio of 57.59, a P/E/G ratio of 1.60 and a beta of 0.96. ServiceNow has a 52-week low of $81.24 and a 52-week high of $210.20. The firm has a 50-day moving average price of $104.70 and a 200 day moving average price of $107.77. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.63% and a net margin of 11.34%.The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. Equities research analysts expect that ServiceNow will post 2.33 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, 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 disclosure for this sale is available in the SEC filing. 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. Insiders have sold 19,144 shares of company stock worth $1,730,097 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Wedge Capital Management L L P NC raised its position in shares of ServiceNow by 5.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 2,512 shares of the information technology services provider’s stock worth $249,000 after purchasing an additional 129 shares during the last quarter. Investors Research Corp lifted its stake in ServiceNow by 787.2% in the 2nd quarter. Investors Research Corp now owns 7,674 shares of the information technology services provider’s stock valued at $762,000 after buying an additional 6,809 shares in the last quarter. Tema ETFs LLC grew its holdings in ServiceNow by 10.0% during the 2nd quarter. Tema ETFs LLC now owns 20,679 shares of the information technology services provider’s stock valued at $2,053,000 after buying an additional 1,885 shares during the last quarter. Canvas Wealth Advisors LLC grew its holdings in ServiceNow by 60.7% during the 2nd quarter. Canvas Wealth Advisors LLC now owns 28,524 shares of the information technology services provider’s stock valued at $2,832,000 after buying an additional 10,773 shares during the last quarter. Finally, Fiduciary Financial Group LLC purchased a new position in ServiceNow during the second quarter worth $404,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow beat Q2 earnings and revenue estimates, showing that demand for its workflow and AI products remains healthy.
• Positive Sentiment: The company raised its annual subscription revenue forecast again, which signals management confidence in continued growth.
• Positive Sentiment: AI-related momentum was a major highlight, with AI contract value topping $1 billion and multiple reports saying customers are adopting ServiceNow’s AI platform more aggressively.
• Positive Sentiment: Several analysts turned more constructive after earnings, including price-target increases and reaffirmed buy/overweight ratings.
• Neutral Sentiment: New partnerships and customer wins, including Experian, Leidos, TeamViewer, and Exclusive Networks, support the long-term platform story but are less likely to move the stock immediately. Article Title
• Negative Sentiment: Some investors remain worried that new AI tools from OpenAI and others could pressure legacy enterprise software, which has created volatility even after the earnings beat.

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.