Fintel reports that on October 24, 2023, Truist Securities reiterated coverage of ServiceNow (NYSE:NOW) with a Hold recommendation.
Analyst Price Forecast Suggests 21.11% Upside
As of October 5, 2023, the average one-year price target for ServiceNow is 655.65. The forecasts range from a low of 454.50 to a high of $770.70. The average price target represents an increase of 21.11% from its latest reported closing price of 541.38.
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The projected annual revenue for ServiceNow is 8,918MM, an increase of 11.24%. The projected annual non-GAAP EPS is 9.20.
What is the Fund Sentiment?
There are 2621 funds or institutions reporting positions in ServiceNow. This is an increase of 120 owner(s) or 4.80% in the last quarter. Average portfolio weight of all funds dedicated to NOW is 0.68%, an increase of 2.87%. Total shares owned by institutions decreased in the last three months by 10.26% to 209,952K shares. 
The put/call ratio of NOW is 1.40, indicating a bearish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 10,262K shares representing 5.02% ownership of the company. In it's prior filing, the firm reported owning 11,893K shares, representing a decrease of 15.89%. The firm increased its portfolio allocation in NOW by 119.13% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,353K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 6,284K shares, representing an increase of 1.08%. The firm increased its portfolio allocation in NOW by 12.79% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 4,851K shares representing 2.37% ownership of the company. In it's prior filing, the firm reported owning 4,737K shares, representing an increase of 2.35%. The firm increased its portfolio allocation in NOW by 12.16% over the last quarter.
Polen Capital Management holds 4,215K shares representing 2.06% ownership of the company. In it's prior filing, the firm reported owning 4,413K shares, representing a decrease of 4.69%. The firm increased its portfolio allocation in NOW by 8.63% over the last quarter.
Capital International Investors holds 4,060K shares representing 1.99% ownership of the company. In it's prior filing, the firm reported owning 3,934K shares, representing an increase of 3.11%. The firm increased its portfolio allocation in NOW by 17.08% over the last quarter.
ServiceNow Background Information
(This description is provided by the company.)
ServiceNow, Inc. provides enterprise information technology (IT) management software. The Company designs, develops, and produces prepackaged computer software, cloud services, and IT service management platform. ServiceNow serves customers throughout the United States.
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