One Wealth Capital Management LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,931 shares of the information technology services provider’s stock, valued at approximately $795,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Nova Scotia boosted its holdings in shares of 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 buying an additional 353,749 shares during the period. Sapient Capital LLC increased its position in shares of ServiceNow by 266.0% during the second quarter. Sapient Capital LLC now owns 77,661 shares of the information technology services provider’s stock worth $7,710,000 after acquiring an additional 56,444 shares in the last quarter. Meeder Advisory Services Inc. bought a new stake in shares of ServiceNow during the second quarter worth $2,881,000. Vestor Capital LLC raised its holdings in shares of ServiceNow by 38,987.2% during the first quarter. Vestor Capital LLC now owns 122,343 shares of the information technology services provider’s stock worth $12,791,000 after acquiring an additional 122,030 shares during the period. Finally, Cardano Risk Management B.V. lifted its position in ServiceNow by 6.9% in the 2nd quarter. Cardano Risk Management B.V. now owns 484,785 shares of the information technology services provider’s stock valued at $48,129,000 after acquiring an additional 31,119 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on NOW shares. Weiss Ratings upgraded ServiceNow from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. boosted their price target on ServiceNow from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Stifel Nicolaus set a $160.00 price objective on ServiceNow and gave the stock a “buy” rating in a research report on Tuesday, October 6th. The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a report on Monday, August 3rd. Finally, Piper Sandler lifted their target price on ServiceNow from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $155.10.
Get Our Latest Analysis on ServiceNow
Insiders Place Their Bets
In other news, insider Jacqueline P. Canney sold 7,847 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider owned 30,042 shares in the company, valued at $4,145,796. This trade represents a 20.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of ServiceNow stock in a transaction dated 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 directly owned 43,990 shares in the company, valued at approximately $5,960,645. This represents a 5.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,081 shares of company stock valued at $1,937,904 in the last three months. 0.34% of the stock is currently owned by corporate insiders.
Key Headlines Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: Bank of America raised its price target to $180 ahead of ServiceNow’s third-quarter results, citing continued demand for AI-related products and services. The revised target signals confidence that AI adoption can support additional growth. Bank of America Boosts ServiceNow Forecast Ahead of Earnings
- Positive Sentiment: ServiceNow’s defense and national-security business is being positioned as a major growth driver over the next year. Management highlighted demand for workflow automation, AI, cybersecurity, logistics modernization and digital transformation among military and government agencies. ServiceNow Defense Business Interview
- Positive Sentiment: The company and Nvidia launched “Arc,” an AI agent designed to plan tasks and verify its work. The product reinforces ServiceNow’s strategy of embedding governed, enterprise-grade AI into its workflow platform, potentially supporting product adoption and customer spending. ServiceNow and Nvidia Launch Arc
- Positive Sentiment: ServiceNow was selected as a preferred idea on CNBC’s “Final Trades,” while Polen Capital highlighted the company’s AI opportunity and revenue-growth prospects. These endorsements add to favorable market sentiment, although they are not substitutes for operating results. ServiceNow on CNBC’s Final Trades
- Neutral Sentiment: Investors are focused on ServiceNow’s upcoming third-quarter earnings, with analysts examining subscription growth, current remaining performance obligations, margins and other operating metrics beyond revenue and EPS. Results and guidance could determine whether the recent rally continues. ServiceNow Q3 Performance Estimates
- Negative Sentiment: Comparisons with TD SYNNEX frame ServiceNow as a less obvious value investment. NOW’s premium valuation means the stock remains sensitive to an earnings or guidance disappointment, despite its strong growth prospects. SNX vs. NOW Value Comparison
ServiceNow Stock Performance
Shares of NOW opened at $159.29 on Friday. The stock has a market capitalization of $164.71 billion, a price-to-earnings ratio of 99.56, a PEG ratio of 2.92 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $192.97. The firm has a fifty day simple moving average of $137.87 and a 200 day simple moving average of $115.39. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43.
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 (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period in the previous year, the business earned $0.81 EPS. The company’s revenue was up 24.0% compared to the same quarter last year. Research analysts forecast that ServiceNow, Inc. will post 2.22 EPS for the current fiscal year.
About ServiceNow
ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.
The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.
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