Friday we watched ServiceNow rise 5.7% to a price of $464.72 per share. The large-cap Software company is now trading -10.56% below its average target price of $519.57. Analysts have set target prices ranging from $370.0 to $640.0 per share for ServiceNow, and have given the stock an average rating of buy.
The stock has a very low short interest at 1.7%, and a short ratio of 2.71. The company's insiders own 0.28% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 91.9% of ServiceNow's shares being owned by this investor type.
Institutions Invested in ServiceNow
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2022-12-31 | Vanguard Group, Inc. (The) | 8% | 17,096,661 | $7,945,160,320 |
| 2022-12-31 | Blackrock Inc. | 8% | 15,771,514 | $7,329,338,005 |
| 2022-12-31 | Price (T.Rowe) Associates Inc | 7% | 14,835,423 | $6,894,317,794 |
| 2022-12-31 | State Street Corporation | 4% | 7,940,410 | $3,690,067,344 |
| 2022-12-31 | Morgan Stanley | 3% | 7,071,786 | $3,286,400,398 |
| 2022-12-31 | Polen Capital Management, LLC | 2% | 4,452,974 | $2,069,386,082 |
| 2022-12-31 | Capital Research Global Investors | 2% | 4,185,787 | $1,945,218,939 |
| 2022-12-31 | Capital International Investors | 2% | 3,738,985 | $1,737,581,113 |
| 2022-12-31 | Geode Capital Management, LLC | 2% | 3,510,904 | $1,631,587,311 |
| 2022-12-31 | Edgewood Management Company | 2% | 3,371,398 | $1,566,756,082 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on ServiceNow.
