Renasant Bank grew its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 182.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,715 shares of the information technology services provider’s stock after purchasing an additional 7,570 shares during the quarter. Renasant Bank’s holdings in ServiceNow were worth $1,163,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Florida Financial Advisors LLC raised its holdings in ServiceNow by 5.4% in the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock valued at $280,000 after buying an additional 14 shares during the last quarter. Clark Capital Management Group Inc. grew its holdings in ServiceNow by 3.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock worth $473,000 after acquiring an additional 18 shares during the last quarter. American Trust grew its holdings in ServiceNow by 1.8% during the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock worth $947,000 after acquiring an additional 18 shares during the last quarter. Morse Asset Management Inc increased its position in ServiceNow by 0.5% in the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock valued at $3,586,000 after acquiring an additional 19 shares during the period. Finally, CYBER HORNET ETFs LLC increased its position in ServiceNow by 3.7% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock valued at $522,000 after acquiring an additional 20 shares during the period. 87.18% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on NOW shares. Jefferies Financial Group reiterated a “buy” rating and set a $140.00 price target (up from $135.00) on shares of ServiceNow in a report on Thursday, July 23rd. Citigroup restated a “market outperform” rating on shares of ServiceNow in a report on Thursday, July 23rd. Guggenheim raised ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Wednesday, July 1st. Evercore reaffirmed an “outperform” rating and set a $160.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Cantor Fitzgerald raised their price objective on ServiceNow from $122.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $144.24.
Trending Headlines about ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: Investor enthusiasm is being supported by reports that ServiceNow’s AI-related contracts have surpassed $1 billion, while its latest quarterly results exceeded expectations: adjusted EPS was $0.90 versus a $0.86 consensus estimate, revenue reached $3.99 billion versus $3.93 billion expected, and revenue increased 24% year over year. ServiceNow Stock Surges Nearly 5% as AI Revenue Reaches $1 Billion Benchmark
- Positive Sentiment: ServiceNow is benefiting from a broader rebound in software stocks. Recent earnings from ServiceNow and other major software companies are easing fears that generative AI will erode demand for traditional enterprise applications, instead suggesting that AI is expanding automation spending. The SaaSpocalypse Trade Is Cracking
- Positive Sentiment: A technical trading signal appeared near $144.84, followed by a move toward an intraday high, adding short-term momentum to the stock. ServiceNow Stock Up Nearly 3% After Key Trading Signal
- Neutral Sentiment: Articles comparing ServiceNow with Salesforce and UiPath highlight its strong enterprise position and AI-automation opportunity, but also frame the sector as a competitive contest in which execution and the economics of “agentic” AI consumption will determine the long-term winner. ServiceNow Vs. Salesforce
- Negative Sentiment: Broader market pressure tied to escalating geopolitical tensions weighed on software shares during the session, creating a headwind despite ServiceNow-specific AI optimism. ServiceNow Stock Slips Monday
- Negative Sentiment: Director Paul Edward Chamberlain sold 2,700 shares for approximately $365,850, reducing his holdings by 5.78%. The remaining stake is substantial, but the insider sale may add limited selling pressure. SEC Insider Trading Filing
ServiceNow Stock Up 2.6%
Shares of ServiceNow stock opened at $148.43 on Tuesday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $194.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The stock’s 50-day moving average is $113.43 and its 200 day moving average is $106.91. The firm has a market cap of $153.48 billion, a price-to-earnings ratio of 92.77, a PEG ratio of 2.55 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the company posted $0.81 earnings per share. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current year.
Insider Buying and Selling at ServiceNow
In other news, Director Paul Edward Chamberlain sold 2,700 shares of ServiceNow stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total value of $365,850.00. Following the completion of the sale, the director owned 43,990 shares in the company, valued at $5,960,645. The trade was a 5.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by corporate insiders.
ServiceNow 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.
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