15,099 Shares in ServiceNow, Inc. $NOW Purchased by Kirtland Hills Capital Management LLC

Kirtland Hills Capital Management LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 15,099 shares of the information technology services provider’s stock, valued at approximately $1,499,000.

Other hedge funds have also added to or reduced their stakes in the company. Wealth Watch Advisors INC bought a new position in shares of ServiceNow in the third quarter valued at $29,000. Kelleher Financial Advisors purchased a new stake in ServiceNow during the third quarter valued at about $50,000. Pin Oak Investment Advisors Inc. grew its stake in ServiceNow by 20.7% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 23 shares in the last quarter. Jupiter Wealth Management LLC purchased a new position in shares of ServiceNow in the second quarter valued at $154,000. Finally, CBIZ Investment Advisory Services LLC increased its position in shares of ServiceNow by 540.0% during 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 buying an additional 135 shares during the period. 87.18% of the stock is currently owned by institutional investors.

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More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production. The “Client Zero” approach combines ServiceNow’s AI platform with Tech Mahindra’s industry expertise, potentially increasing adoption, automation revenue and measurable customer outcomes. Tech Mahindra and ServiceNow Expand Partnership to Deliver Production-Ready Enterprise AI at Scale
• Positive Sentiment: Bank of America raised its ServiceNow price target to $150, citing the company’s positioning to monetize artificial intelligence as concerns about AI disruption to traditional software fade. The move contributed to broader bullish sentiment across software stocks. Bank of America Increases ServiceNow Price Target to $150
• Positive Sentiment: ServiceNow has gained substantially since its latest earnings report, which beat estimates on both adjusted earnings and revenue. Quarterly revenue increased 24% year over year, reinforcing the view that the company remains a leading enterprise AI and workflow platform. ServiceNow Up 41.1% Since Last Earnings Report
• Positive Sentiment: ServiceNow was also selected as a CNBC “Final Trade,” providing additional visibility and signaling continued support from some professional investors. Final Trades: ServiceNow, Vertex and Uber
• Neutral Sentiment: Despite the favorable company news, midday AI buying has been concentrated in government-facing companies such as Palantir and BigBear.ai rather than enterprise software, limiting near-term upside for NOW. How Are Traders Picking the Software Winners?
• Negative Sentiment: Investors continue to monitor competitive threats from newer AI-native automation platforms, including Serval, as well as ServiceNow’s premium valuation. Those concerns may encourage profit-taking after the stock’s sharp post-earnings advance. Serval Wants To Replace ServiceNow With AI That Builds Enterprise Automation

Analyst Ratings Changes

NOW has been the subject of several research analyst reports. Citizens Jmp reiterated a “market outperform” rating and set a $157.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. KeyCorp reissued an “underweight” rating on shares of ServiceNow in a report on Tuesday, July 21st. Cantor Fitzgerald raised their price objective on shares of ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Morgan Stanley set a $180.00 price objective on shares of ServiceNow in a report on Tuesday, July 21st. Finally, CLSA assumed coverage on shares of ServiceNow in a research report on Monday, July 20th. They issued an “underperform” rating and a $72.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.24.

View Our Latest Analysis on NOW

Insider Buying and Selling

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the sale, the director owned 46,690 shares in the company, valued at $5,864,264. This represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.34% of the company’s stock.

ServiceNow Trading Down 0.8%

Shares of NOW opened at $128.73 on Friday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $194.73. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $108.88 and its 200-day moving average price is $105.74. The firm has a market capitalization of $133.11 billion, a price-to-earnings ratio of 80.46, a PEG ratio of 2.26 and a beta of 0.94.

ServiceNow (NYSE:NOW – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 earnings per share. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current year.

ServiceNow Profile

(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.

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