Encore Global Management LP Invests $2.66 Million in ServiceNow, Inc. $NOW

Encore Global Management LP purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the first quarter, HoldingsChannel reports. The firm purchased 25,400 shares of the information technology services provider’s stock, valued at approximately $2,656,000. ServiceNow comprises about 1.9% of Encore Global Management LP’s portfolio, making the stock its 23rd largest position.

Other hedge funds have also modified their holdings of the company. Millstone Evans Group LLC grew its holdings in ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the period. CBIZ Investment Advisory Services LLC increased its stake in ServiceNow by 540.0% in 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 purchasing an additional 135 shares in the last quarter. Blueline Advisors LLC acquired a new stake in ServiceNow in the fourth quarter worth $25,000. Measured Wealth Private Client Group LLC raised its holdings in ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 140 shares during the period. Finally, Wealth Watch Advisors INC boosted its position in shares of ServiceNow by 432.3% during the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 134 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NOW. The Goldman Sachs Group reissued a “buy” rating and issued a $145.00 price target (down from $163.00) on shares of ServiceNow in a report on Wednesday, July 8th. Capital One Financial raised their price objective on ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. FBN Securities reduced their target price on ServiceNow from $160.00 to $120.00 in a report on Thursday, April 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 note on Wednesday, July 1st. Finally, DA Davidson set a $170.00 price target on ServiceNow and gave the stock a “buy” rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.39.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 19,144 shares of company stock valued at $1,730,097 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s second-quarter performance remains a key bullish argument: revenue grew 24% year over year to $3.99 billion, earnings exceeded estimates, large-deal activity accelerated, and management raised its full-year outlook. The company also reported more than $1 billion in annual contract value from its AI offerings. Is the Market Mispricing ServiceNow’s AI Future?
• Positive Sentiment: Analysts and investors are increasingly viewing ServiceNow as an AI beneficiary rather than an AI-disruption victim. Its workflow automation platform, enterprise AI products, and potential shift toward consumption-based pricing could create additional revenue as customers deploy more AI-driven work. ServiceNow Is Building an AI Business for Enterprises
• Positive Sentiment: The company’s expanding cybersecurity business is being highlighted as another potential growth engine beyond AI, while a new integration from IP Fabric could strengthen ServiceNow’s configuration-management database offering and customer value proposition. ServiceNow’s Q2 Earnings Showed It’s More Than an AI Stock
• Neutral Sentiment: ServiceNow remains a popular “value” and turnaround discussion among analysts after falling substantially this year. The stock’s valuation is more attractive than before, but its elevated earnings multiple means investors still require sustained growth and successful AI monetization. ServiceNow’s Revenue Growth Is Accelerating
• Negative Sentiment: ServiceNow cut hundreds of jobs as part of a global restructuring and efficiency push. While the reductions may improve operating discipline and align with CEO Bill McDermott’s focus on streamlining workflows, they also signal cost pressures and broader uncertainty across the software sector. ServiceNow Cuts Jobs Amid Global Restructuring and AI Focus

ServiceNow Stock Up 4.7%

Shares of NOW stock opened at $110.55 on Wednesday. The firm has a fifty day moving average of $104.99 and a 200-day moving average of $106.84. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $201.15. The company has a market capitalization of $114.30 billion, a price-to-earnings ratio of 69.09, a P/E/G ratio of 1.86 and a beta of 0.96.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.86 by $0.04. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm’s revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. As a group, equities research analysts predict that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

ServiceNow Company 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.