Cornerstone Advisors LLC grew its position in ServiceNow, Inc. (NYSE:NOW – Free Report) by 15.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,797 shares of the information technology services provider’s stock after acquiring an additional 18,057 shares during the period. Cornerstone Advisors LLC’s holdings in ServiceNow were worth $18,600,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of NOW. A. D. Beadell Investment Counsel Inc. lifted its stake in ServiceNow by 2.9% in the 2nd quarter. A. D. Beadell Investment Counsel Inc. now owns 2,818 shares of the information technology services provider’s stock valued at $279,000 after purchasing an additional 80 shares during the last quarter. DUTCH ASSET Corp increased its position in ServiceNow by 0.5% during the third quarter. DUTCH ASSET Corp now owns 16,331 shares of the information technology services provider’s stock worth $2,189,000 after buying an additional 82 shares during the last quarter. Atwood & Palmer Inc. increased its position in ServiceNow by 20.0% during the second quarter. Atwood & Palmer Inc. now owns 600 shares of the information technology services provider’s stock worth $60,000 after buying an additional 100 shares during the last quarter. Diligent Investors LLC raised its stake in ServiceNow by 4.1% in the third quarter. Diligent Investors LLC now owns 2,560 shares of the information technology services provider’s stock valued at $343,000 after buying an additional 100 shares during the period. Finally, Signature Wealth Management Partners LLC raised its stake in ServiceNow by 3.3% in the third quarter. Signature Wealth Management Partners LLC now owns 3,281 shares of the information technology services provider’s stock valued at $440,000 after buying an additional 106 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.
More ServiceNow News
Here’s some of the latest news about NOW:
- Positive Sentiment: ServiceNow launched its Autonomous CRM Engine, designed to map existing CRM systems and help accelerate migrations, with ongoing monitoring for configuration issues. It is in controlled availability, with broader expansion planned for 2027; Datacom and Xactly are among its adopters. The launch could support adoption of ServiceNow’s AI products. Article: ServiceNow launches Autonomous CRM Engine
- Positive Sentiment: ServiceNow was cited as an AI stock to consider after Wells Fargo improved its outlook on the AI infrastructure trade. Separately, the article reports that Argus still rates the stock a Buy, offering a supportive analyst view despite the steep decline. Article: Argus rates ServiceNow a Buy
- Neutral Sentiment: ServiceNow shares were reported to be about 42% below their high, with another article citing a 40.5% decline over 12 months. The pullback may draw value-focused investors, but it also reflects pressure on AI software stocks and leaves the market weighing the company’s growth prospects against its valuation. Article: ServiceNow valuation and AI partnership news
Insider Buying and Selling at ServiceNow
In other ServiceNow news, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the transaction, the director owned 43,990 shares in the company, valued at $5,960,645. This trade represents a 5.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Fipps sold 2,034 shares of ServiceNow 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 sale, the insider directly owned 18,305 shares of the company’s stock, valued at $2,706,760.35. This represents a 10.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,870 shares of company stock valued at $1,880,595 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ServiceNow in a research report on Monday, August 3rd. Wells Fargo & Company dropped their price target on ServiceNow from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. JPMorgan Chase & Co. increased their price target on ServiceNow from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Yorkville Ives initiated coverage on ServiceNow in a report on Monday, October 5th. They set an “outperform” rating and a $160.00 price target for the company. Finally, Cantor Fitzgerald upped their price objective on shares of ServiceNow from $174.00 to $201.00 and gave the company an “overweight” rating in a report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $154.50.
View Our Latest Stock Report on NOW
ServiceNow Trading Up 1.5%
Shares of NYSE:NOW opened at $102.14 on Friday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $175.00. The business has a 50 day moving average of $132.09 and a 200-day moving average of $114.07. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.42. The stock has a market cap of $106.02 billion, a PE ratio of 73.48, a P/E/G ratio of 1.97 and a beta of 1.00.
ServiceNow (NYSE:NOW – Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.02). The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.09 billion. ServiceNow had a return on equity of 15.17% and a net margin of 9.36%. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.82 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 2.12 earnings per share for the current year.
ServiceNow Company Profile
ServiceNow, Inc. provides cloud-based software that helps organizations manage digital workflows and automate business processes. Founded in 2004 by Fred Luddy, the company began with a focus on IT service management and has expanded its platform to support a range of enterprise operations. Its products include tools for IT service and operations management, customer service, human resources, security, and application development. ServiceNow also offers artificial intelligence capabilities, including tools designed to help organizations automate tasks and find information across workflows.
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