236,153 Shares in ServiceNow, Inc. $NOW Acquired by Ieq Capital LLC

Ieq Capital LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 236,153 shares of the information technology services provider’s stock, valued at approximately $23,445,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOW. Florida Financial Advisors LLC increased its position in shares of ServiceNow by 5.4% in the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after purchasing an additional 14 shares during the period. Clark Capital Management Group Inc. lifted its position in ServiceNow by 3.6% during the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock worth $473,000 after purchasing an additional 18 shares during the period. American Trust grew its stake in ServiceNow by 1.8% during the third quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock worth $947,000 after buying an additional 18 shares in the last quarter. Morse Asset Management Inc increased its holdings in ServiceNow by 0.5% in the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock valued at $3,586,000 after buying an additional 19 shares during the period. Finally, CYBER HORNET ETFs LLC increased its holdings in ServiceNow by 3.7% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock valued at $522,000 after buying an additional 20 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Oppenheimer reaffirmed 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. Citizens Jmp restated a “market outperform” rating and set a $157.00 price objective on shares of ServiceNow in a research report on Tuesday, May 5th. UBS Group set a $248.00 target price on ServiceNow in a research note on Thursday, July 23rd. Citic Securities reduced their target price on ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. lifted their price target on ServiceNow from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.24.

Insider Activity

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total value of $188,400.00. Following the completion of the transaction, the director owned 46,690 shares in the company, valued at $5,864,264. This trade represents a 3.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by corporate insiders.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production. The “Client Zero” approach combines ServiceNow’s AI platform with Tech Mahindra’s industry expertise, potentially increasing adoption, automation revenue and measurable customer outcomes. Tech Mahindra and ServiceNow Expand Partnership to Deliver Production-Ready Enterprise AI at Scale
• Positive Sentiment: Bank of America raised its ServiceNow price target to $150, citing the company’s positioning to monetize artificial intelligence as concerns about AI disruption to traditional software fade. The move contributed to broader bullish sentiment across software stocks. Bank of America Increases ServiceNow Price Target to $150
• Positive Sentiment: ServiceNow has gained substantially since its latest earnings report, which beat estimates on both adjusted earnings and revenue. Quarterly revenue increased 24% year over year, reinforcing the view that the company remains a leading enterprise AI and workflow platform. ServiceNow Up 41.1% Since Last Earnings Report
• Positive Sentiment: ServiceNow was also selected as a CNBC “Final Trade,” providing additional visibility and signaling continued support from some professional investors. Final Trades: ServiceNow, Vertex and Uber
• Neutral Sentiment: Despite the favorable company news, midday AI buying has been concentrated in government-facing companies such as Palantir and BigBear.ai rather than enterprise software, limiting near-term upside for NOW. How Are Traders Picking the Software Winners?
• Negative Sentiment: Investors continue to monitor competitive threats from newer AI-native automation platforms, including Serval, as well as ServiceNow’s premium valuation. Those concerns may encourage profit-taking after the stock’s sharp post-earnings advance. Serval Wants To Replace ServiceNow With AI That Builds Enterprise Automation

ServiceNow Stock Down 0.8%

Shares of NYSE:NOW opened at $128.73 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. The company has a market capitalization of $133.11 billion, a PE ratio of 80.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. The company has a fifty day moving average of $108.88 and a 200-day moving average of $105.74.

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