Independence Bank of Kentucky Acquires 15,352 Shares of ServiceNow, Inc. $NOW

Independence Bank of Kentucky raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 100.5% in the second quarter, Holdings Channel.com reports. The fund owned 30,632 shares of the information technology services provider’s stock after acquiring an additional 15,352 shares during the quarter. Independence Bank of Kentucky’s holdings in ServiceNow were worth $3,041,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NOW. Norges Bank bought a new stake in ServiceNow in the fourth quarter valued at about $2,020,992,000. World Investment Advisors grew its stake in shares of ServiceNow by 411.7% in the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after purchasing an additional 38,583 shares during the period. Moors & Cabot Inc. raised its holdings in shares of ServiceNow by 387.7% in the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after buying an additional 36,274 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of ServiceNow by 53.3% in the 1st quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock worth $106,436,000 after buying an additional 353,749 shares in the last quarter. Finally, Huntington National Bank grew its position in ServiceNow by 397.1% in the fourth quarter. Huntington National Bank now owns 544,257 shares of the information technology services provider’s stock valued at $83,375,000 after acquiring an additional 434,761 shares during the period. 87.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 2,700 shares of ServiceNow stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total value of $365,850.00. Following the transaction, the director owned 43,990 shares of the company’s stock, valued at approximately $5,960,645. The trade was a 5.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Fipps sold 2,034 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $147.87, for a total transaction of $300,767.58. Following the sale, the insider directly owned 18,305 shares of the company’s stock, valued at $2,706,760.35. This represents a 10.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,081 shares of company stock worth $1,937,904 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Investor sentiment is supported by reports that ServiceNow’s AI-related contracts have surpassed $1 billion. The company’s latest quarterly results also exceeded expectations, with EPS of $0.90 versus the $0.86 consensus and revenue of $3.99 billion versus $3.93 billion expected; revenue increased 24% year over year. ServiceNow Stock Surges Nearly 5% as AI Revenue Reaches $1 Billion Benchmark
• Positive Sentiment: A rebound in software stocks is helping ServiceNow. Recent enterprise-software earnings have eased concerns that generative AI will displace traditional applications, instead suggesting that AI may increase demand for automation and workflow tools. The SaaSpocalypse Trade Is Cracking
• Neutral Sentiment: Analysts remain moderately optimistic despite ServiceNow’s weaker performance than some software peers. Comparisons with Salesforce, UiPath and Fujitsu emphasize NOW’s strong enterprise position, while noting that competition and the profitability of agentic AI adoption remain important risks. ServiceNow Stock Performance Compared With Peers
• Negative Sentiment: Several insiders have recently sold shares. Director Paul Edward Chamberlain sold 2,700 shares for about $365,850, while executives Jacqueline Canney and Paul Fipps sold approximately $1.08 million and $301,000, respectively. Canney’s transaction was conducted under a pre-arranged Rule 10b5-1 plan, which reduces its significance as a discretionary bearish signal, but the cluster of sales may still weigh on sentiment. SEC Insider Filing
• Negative Sentiment: Escalating geopolitical tensions and overall market weakness have pressured software stocks, creating a near-term headwind for NOW despite its company-specific AI catalysts. ServiceNow Stock Slips

Analysts Set New Price Targets

Several brokerages recently issued reports on NOW. Weiss Ratings raised shares of ServiceNow from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 20th. Citizens Jmp reissued a “market outperform” rating and set a $157.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. TD Cowen restated a “buy” rating and issued a $140.00 price objective on shares of ServiceNow in a research report on Monday, August 17th. Sanford C. Bernstein reissued an “outperform” rating and issued a $248.00 target price (up from $236.00) on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, Evercore reiterated an “outperform” rating and issued a $160.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.24.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $142.69 on Wednesday. The firm’s 50 day simple moving average is $114.37 and its 200 day simple moving average is $107.20. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The company has a market capitalization of $147.54 billion, a price-to-earnings ratio of 89.18, a P/E/G ratio of 2.60 and a beta of 0.97. 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 issued its earnings results 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 firm had revenue of $3.99 billion during 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%. The business’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

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.