Figure 8 Investment Strategies LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 153.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,986 shares of the information technology services provider’s stock after buying an additional 11,498 shares during the period. ServiceNow comprises approximately 1.6% of Figure 8 Investment Strategies LLC’s portfolio, making the stock its 23rd largest position. Figure 8 Investment Strategies LLC’s holdings in ServiceNow were worth $1,885,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $2,020,992,000. World Investment Advisors lifted its stake in ServiceNow by 411.7% in the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,346,000 after acquiring an additional 38,583 shares during the period. Moors & Cabot Inc. lifted its stake in ServiceNow by 387.7% in the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after acquiring an additional 36,274 shares during the period. Bank of Nova Scotia boosted its holdings in ServiceNow by 53.3% in the first quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock valued at $106,436,000 after acquiring an additional 353,749 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in ServiceNow by 397.1% in the fourth quarter. Huntington National Bank now owns 544,257 shares of the information technology services provider’s stock valued at $83,375,000 after acquiring an additional 434,761 shares in the last quarter. 87.18% of the stock is owned by institutional investors.
Insider Activity
In other ServiceNow news, insider Jacqueline P. Canney sold 7,847 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $138.00, for a total value of $1,082,886.00. Following the sale, the insider directly owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. The trade was a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 2,034 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the completion of the sale, the insider directly owned 18,305 shares in the company, valued at approximately $2,706,760.35. This represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 14,081 shares of company stock worth $1,937,904. Insiders own 0.34% of the company’s stock.
Key ServiceNow News
- Positive Sentiment: ServiceNow was selected as a “final trade” on CNBC’s Halftime Report, with the bullish case citing analyst support and the company’s opportunity to expand its AI offerings. Nvidia, ServiceNow, Spotify And A Financial Stock On CNBC’s Final Trades
- Positive Sentiment: ServiceNow gained alongside enterprise AI software peers as investor concerns that AI could weaken traditional seat-based software revenue eased. The broader sector rebound provided a favorable trading backdrop for NOW. Palantir Rallies 7% as PwC Alliance Counters Michael Burry Bear Case
- Positive Sentiment: Partner adoption is strengthening ServiceNow’s AI-platform narrative. Pricefx’s Deal Optimization App embeds AI pricing, negotiation, and recommendation tools into ServiceNow workflows, suggesting the platform is becoming an important distribution channel for enterprise AI applications. Is ServiceNow Quietly Becoming the Default AI Commerce Platform for Enterprise Partners?
- Neutral Sentiment: Analysts and investors remain selective within the software group. Although the sector has rebounded, commentary emphasizes that strong performance varies widely among companies, increasing scrutiny of ServiceNow’s valuation and growth durability. Software Stocks Are Back. 2 Winners, 2 Losers—and Salesforce
- Negative Sentiment: Reports of insider selling are weighing on sentiment and may be prompting investors to lock in gains after ServiceNow’s recent rally. Separate coverage also questioned whether the stock’s rapid advance has outpaced near-term fundamentals, making profit-taking a risk. ServiceNow Stock Price Down Following Insider Selling ServiceNow Just Rallied 28% in a Month: Take Profits, or Buy More?
Analysts Set New Price Targets
Several research analysts have commented on NOW shares. Robert W. Baird upped their price objective on shares of ServiceNow from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Citic Securities cut their target price on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Morgan Stanley set a $180.00 price target on shares of ServiceNow in a research report on Tuesday, July 21st. Piper Sandler reissued an “overweight” rating and issued a $140.00 price target on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, BMO Capital Markets raised their price objective on shares of ServiceNow from $115.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $144.24.
Read Our Latest Research Report on NOW
ServiceNow Stock Down 2.9%
NYSE:NOW opened at $141.31 on Friday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $194.73. The company has a market capitalization of $146.11 billion, a PE ratio of 88.32, a P/E/G ratio of 2.57 and a beta of 0.97. The firm’s 50-day moving average price is $117.21 and its 200-day moving average price is $107.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.
ServiceNow (NYSE:NOW – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. ServiceNow’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 earnings per share. On average, equities analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.
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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