Kentucky Farm Bureau Mutual Insurance Co Takes Position in ServiceNow, Inc. $NOW

Kentucky Farm Bureau Mutual Insurance Co purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,500 shares of the information technology services provider’s stock, valued at approximately $1,241,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mmbg Investment Advisors CO. bought a new position in ServiceNow in the second quarter worth $2,251,000. West Family Investments Inc. bought a new stake in shares of ServiceNow during the 2nd quarter valued at $417,000. Knuff & Co LLC bought a new stake in shares of ServiceNow during the 2nd quarter valued at $5,954,000. Empirical Asset Management LLC purchased a new stake in shares of ServiceNow in the 2nd quarter worth about $346,000. Finally, Great Lakes Advisors LLC purchased a new stake in shares of ServiceNow in the 2nd quarter worth about $1,021,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on NOW shares. Jefferies Financial Group reiterated a “buy” rating and issued a $140.00 price target (up from $135.00) on shares of ServiceNow in a research note on Thursday, July 23rd. Needham & Company LLC reissued a “buy” rating and set a $115.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. DA Davidson set a $170.00 price objective on shares of ServiceNow and gave the stock a “buy” rating in a report on Monday, July 20th. TD Cowen reaffirmed a “buy” rating and set a $140.00 target price on shares of ServiceNow in a research note on Monday. Finally, Citic Securities lowered their target price on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.24.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the sale, the director owned 46,690 shares in the company, valued at $5,864,264. This represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

NOW opened at $127.22 on Thursday. The firm has a market cap of $131.54 billion, a PE ratio of 79.51, a P/E/G ratio of 2.10 and a beta of 0.94. The stock has a 50-day moving average price of $107.82 and a 200-day moving average price of $105.49. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $194.73. 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) last announced 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 company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. ServiceNow’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target. BofA lifted its target from $130 to $150 and upgraded or reaffirmed the stock with a “Buy” rating, implying substantial upside from the referenced market level. Benzinga
• Positive Sentiment: Broader software-sector fears eased. Market commentary indicated that investors are moving away from the view that AI will make traditional enterprise software obsolete. This helped support ServiceNow and other major software stocks after a prolonged selloff. ServiceNow Leads a Software Rally
• Positive Sentiment: The Armis cybersecurity acquisition strengthens ServiceNow’s growth narrative. Coverage of the approximately $8 billion deal highlights its potential to expand ServiceNow’s AI-powered security platform and add preventive cyber-defense capabilities. ServiceNow Armis Acquisition
• Positive Sentiment: ServiceNow received additional bullish commentary. TD Cowen reiterated its “Buy” rating, while other analysts and market commentators pointed to the company’s recurring revenue, roughly 20%-plus growth profile and opportunities to monetize AI workflows. Why ServiceNow Stock Rallied
• Neutral Sentiment: New partnership expands the AI platform ecosystem. Tribal announced “Tribal for ServiceNow,” allowing enterprise teams to build and deploy AI agents within ServiceNow environments. The partnership may improve platform adoption, although its near-term financial impact is unclear. Tribal Partners with ServiceNow
• Negative Sentiment: AI-related business-model risks remain. Critics warn that AI could pressure per-seat software pricing if companies accomplish more work with fewer employees, potentially challenging long-term revenue growth. AI Risks to ServiceNow’s Business Model
• Negative Sentiment: Insider selling and acquisition execution risks remain overhangs. A director sold 1,500 shares under a pre-arranged Rule 10b5-1 plan, limiting its significance, while the Armis transaction creates integration and spending risks. ServiceNow Director Share Sale

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.