ICONIQ Capital LLC Decreases Position in ServiceNow, Inc. $NOW

ICONIQ Capital LLC lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 80.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 115,717 shares of the information technology services provider’s stock after selling 483,353 shares during the quarter. ServiceNow makes up approximately 0.3% of ICONIQ Capital LLC’s portfolio, making the stock its 19th biggest holding. ICONIQ Capital LLC’s holdings in ServiceNow were worth $11,488,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at ServiceNow

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 sale, the director directly owned 46,690 shares of the company’s stock, valued at $5,864,264. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $144.77 on Monday. The stock has a market cap of $149.69 billion, a price-to-earnings ratio of 90.48, a PEG ratio of 2.55 and a beta of 0.94. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $112.33 and a 200 day simple moving average of $106.61. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73.

ServiceNow (NYSE:NOW) last released 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. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company’s revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 EPS. On average, research analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NOW. BTIG Research reiterated a “buy” rating and issued a $150.00 target price on shares of ServiceNow in a research note on Wednesday, July 22nd. Bank of America raised their price objective on shares of ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Robert W. Baird lifted their price objective on shares of ServiceNow from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Weiss Ratings raised shares of ServiceNow from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 20th. Finally, BMO Capital Markets increased their target price on ServiceNow from $115.00 to $118.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $144.24.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s recent rally was helped by Salesforce’s strong quarterly results and upbeat outlook, which eased concerns about a “SaaS-pocalypse.” Investors are increasingly viewing AI as an enhancement to existing enterprise workflows rather than a threat to core software platforms. Why ServiceNow Rallied Today
• Positive Sentiment: Analyst and market commentary highlights ServiceNow’s agentic-AI momentum, including more than $1 billion in AI annual contract value, broader enterprise adoption and potential new monetization opportunities. The company’s AI Control Tower and expanding customer spending are viewed as additional growth drivers. Agentic AI Adoption Boosts NOW’s Growth Prospects
• Positive Sentiment: Wall Street remains broadly constructive, with ServiceNow receiving Buy or Moderate Buy consensus ratings. The stock has also approached technical buy points, while some analysts have issued targets as high as $150 or substantially higher. Is It Worth Investing in ServiceNow Based on Wall Street’s Bullish Views?
• Neutral Sentiment: ServiceNow has risen about 70% from its yearly low and remains below its prior peak, creating debate over whether the move represents a new buying opportunity or a temporary rebound. Analysts’ median price target of approximately $134 is below the current trading level, limiting near-term upside based on that measure. Is It a Golden Opportunity to Buy ServiceNow Stock?
• Negative Sentiment: ServiceNow warned of three maximum-severity vulnerabilities that could allow unauthenticated attackers to execute code or access SQL systems. Although patches and mitigations may limit the financial impact, the disclosures create reputational, customer-retention and execution risks. Three CVSS 10.0 ServiceNow Flaws
• Negative Sentiment: At an elevated earnings multiple, the stock is vulnerable to profit-taking if AI growth slows. Jim Cramer recommended selling half a position and retaining the remainder, underscoring the sharp rally and the possibility that some optimism is already reflected in the shares. Jim Cramer’s ServiceNow Advice

About ServiceNow

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.