Bull Harbor Capital LLC Invests $1.46 Million in ServiceNow, Inc. $NOW

Bull Harbor Capital LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 13,999 shares of the information technology services provider’s stock, valued at approximately $1,464,000.

A number of other institutional investors have also recently bought and sold shares of NOW. Covenant Asset Management LLC lifted its stake in shares of ServiceNow by 169.2% in the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock valued at $3,196,000 after acquiring an additional 13,114 shares during the last quarter. Norges Bank bought a new stake in ServiceNow during the 4th quarter worth $2,020,992,000. World Investment Advisors increased its holdings in ServiceNow by 411.7% in the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,346,000 after purchasing an additional 38,583 shares in the last quarter. Cohen Klingenstein LLC increased its holdings in ServiceNow by 400.0% in the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Moors & Cabot Inc. raised its position 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 valued at $6,990,000 after purchasing an additional 36,274 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 4.6%

ServiceNow stock opened at $115.71 on Thursday. The company has a market capitalization of $119.64 billion, a PE ratio of 72.32, a PEG ratio of 1.95 and a beta of 0.96. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $198.61. The firm’s fifty day moving average is $105.24 and its 200 day moving average is $106.62. 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 (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share 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 during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The business’s revenue was up 24.0% compared to the same quarter last year. As a group, sell-side analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. CLSA began coverage on shares of ServiceNow in a report on Monday, July 20th. They issued an “underperform” rating and a $72.00 price objective for the company. Piper Sandler restated an “overweight” rating and issued a $140.00 price target on shares of ServiceNow in a research report on Thursday, July 23rd. Mizuho dropped their price target on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Oppenheimer reiterated an “outperform” rating and set a $140.00 price target (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. Finally, Weiss Ratings downgraded ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.39.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider directly owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last quarter, insiders have sold 19,144 shares of company stock worth $1,730,097. Corporate insiders own 0.34% of the company’s stock.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: CEO Bill McDermott said ServiceNow has a “kill switch” and other controls that can stop autonomous AI agents if they behave unexpectedly. The comments may ease concerns about enterprise AI safety and support adoption of ServiceNow’s agentic-AI products. ServiceNow CEO admits there’s a solution to AI’s biggest problem
• Positive Sentiment: Analysts and industry coverage point to accelerating customer adoption of agentic AI, expanding AI products and workflow automation as potential drivers of ServiceNow’s next phase of growth. Recent quarterly results—24% year-over-year revenue growth, revenue and earnings above estimates, and raised guidance—provide support for the bullish thesis. Can Agentic AI Adoption Fuel ServiceNow’s Next Phase of Growth?
• Positive Sentiment: ServiceNow is also being viewed as more than an AI software stock: its expanding cybersecurity business could become another meaningful growth engine. Shares were reported to be holding above key moving averages, reinforcing near-term investor momentum. ServiceNow’s Q2 Earnings Showed It’s More Than an AI Stock
• Neutral Sentiment: Several valuation articles describe NOW as attractive because of its growth and AI exposure, while comparisons with peers such as Salesforce highlight that the stock still trades at a premium. That premium could limit upside if growth expectations weaken. ServiceNow Vs. Salesforce: The Valuation Gap Has Closed, But The Growth Gap Hasn’t
• Negative Sentiment: ServiceNow cut hundreds of jobs as part of a global restructuring and increased efficiency focus. The reductions may improve costs, but they also underscore broader software-sector pressure and potential execution risks during the company’s AI transition. ServiceNow cut hundreds of jobs to streamline operations

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.