Short Interest in ServiceNow, Inc. (NYSE:NOW) Rises By 30.3%

01 May 2026, 11:46 by Teresa Graham · The Cerbat Gem

ServiceNow, Inc. (NYSE:NOW – Get Free Report) saw a large growth in short interest in April. As of April 15th, there was short interest totaling 38,945,953 shares, a growth of 30.3% from the March 31st total of 29,878,635 shares. Based on an average daily volume of 25,350,720 shares, the days-to-cover ratio is presently 1.5 days. Currently, 3.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of analyst reports. Royal Bank Of Canada cut their price target on shares of ServiceNow from $150.00 to $121.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Arete Research set a $200.00 target price on ServiceNow in a research report on Tuesday, January 6th. Wolfe Research set a $125.00 price target on ServiceNow in a research report on Thursday, April 23rd. HSBC cut their price objective on ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Finally, UBS Group set a $150.00 target price on shares of ServiceNow in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $146.75.

View Our Latest Stock Analysis on ServiceNow

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

Positive Sentiment: Healthcare partnership expands addressable market — ServiceNow struck a deal with Simplify Alpha to deploy AI-powered, auditable workflows for payers (claims, appeals, provider management). This targets a large, regulated vertical where automation can drive multi-year contracts and sticky revenue. ServiceNow And Simplify Alpha Target Health Plan Costs With AI Workflows
Positive Sentiment: Analyst support — Citigroup raised its price target to $158 and kept a Buy rating, signaling institutional conviction that NOW has substantial upside from current levels and that weakness may be an entry point for long-term investors. Citigroup price target raise
Positive Sentiment: Partner ecosystem momentum — Atos was recognized for ServiceNow ecosystem capabilities, and third-party firms (e.g., Brightfin) continue building AI-native solutions on the platform, reinforcing network effects and go-to-market leverage. This supports recurring revenue expansion. Atos/partner ecosystem coverage
Neutral Sentiment: Ecosystem product announcements — Brightfin and other ISV moves highlight innovation on ServiceNow but are early-stage revenue drivers; useful for long-term thesis but limited near-term EPS impact. Brightfin Unveils AI-Native Platform for IT Financial Management
Neutral Sentiment: Analyst / media debate — Several outlets and podcasts are pushing back on the “SaaSpocalypse” narrative and arguing ServiceNow’s AI positioning and execution justify a buy for long-term investors; these are opinion-driven and may temper volatility but don’t guarantee short-term price support. Analysts Push Back on SaaSpocalypse
Negative Sentiment: Earnings-driven sell-off — Despite beating Q1 estimates and raising guidance, NOW plunged after the print as investors focused on signs of slowing net new deals and broader SaaS valuation compression; that reaction is the primary driver of today’s decline. Earnings beat-and-raise met with sell-off
Negative Sentiment: Insider selling — A reported insider sale (~$800k) may add near-term negative optics for sentiment, though the size is small relative to NOW’s market cap. ServiceNow Insider Sells

ServiceNow Price Performance

NYSE:NOW traded up $1.47 during mid-day trading on Friday, reaching $89.78. 9,667,571 shares of the company were exchanged, compared to its average volume of 21,112,039. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market cap of $92.56 billion, a PE ratio of 53.35, a PEG ratio of 1.57 and a beta of 1.01. ServiceNow has a 12 month low of $81.24 and a 12 month high of $211.48. The company has a fifty day moving average of $103.45 and a 200 day moving average of $135.26.

ServiceNow (NYSE:NOW – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the business earned $0.81 earnings per share. ServiceNow’s quarterly revenue was up 22.1% on a year-over-year basis. On average, research analysts anticipate that ServiceNow will post 2.35 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Paul Fipps sold 3,696 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total value of $376,141.92. Following the completion of the transaction, the insider directly owned 8,061 shares in the company, valued at approximately $820,367.97. This represents a 31.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 25,164 shares of company stock valued at $2,497,021. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Hedge funds have recently added to or reduced their stakes in the company. IAG Wealth Partners LLC raised its position in shares of ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 18 shares during the last quarter. Noble Wealth Management PBC grew its stake in shares of ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 128 shares during the period. Millstone Evans Group LLC increased its holdings in ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Blueline Advisors LLC acquired a new position in ServiceNow in the fourth quarter valued at about $25,000. Institutional investors own 87.18% of the company’s stock.

About ServiceNow

(Get Free Report)

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.