Proficio Capital Partners LLC Acquires New Position in ServiceNow, Inc. $NOW

Proficio Capital Partners LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, HoldingsChannel.com reports. The firm bought 4,590 shares of the information technology services provider’s stock, valued at approximately $456,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Watch Advisors INC purchased a new position in shares of ServiceNow during the 3rd quarter worth $29,000. Kelleher Financial Advisors purchased a new stake in shares of ServiceNow in the third quarter valued at $50,000. Pin Oak Investment Advisors Inc. grew its position in shares of ServiceNow by 20.7% in the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 23 shares during the period. Jupiter Wealth Management LLC acquired a new position in ServiceNow in the second quarter valued at $154,000. Finally, CBIZ Investment Advisory Services LLC increased its stake in ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 7,847 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the transaction, the insider owned 30,042 shares in the company, valued at approximately $4,145,796. This trade represents a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 2,034 shares of ServiceNow stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the transaction, the insider directly owned 18,305 shares in the company, valued at approximately $2,706,760.35. This trade represents a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 14,081 shares of company stock worth $1,937,904. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. UBS Group set a $248.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. Cantor Fitzgerald increased their price objective on shares of ServiceNow from $122.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Bank of America raised their target price on shares of ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $175.00 target price (up from $160.00) on shares of ServiceNow in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $144.24.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $136.57 on Thursday. The firm has a market capitalization of $141.22 billion, a PE ratio of 85.36, 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. The business has a 50-day moving average of $115.22 and a two-hundred day moving average of $107.44. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73.

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

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Aramco Digital signed a collaboration agreement to expand AI-powered enterprise transformation. The partnership could broaden adoption of ServiceNow’s AI workflow tools across Aramco’s operations and strengthen the company’s competitive position versus Salesforce and Microsoft. ServiceNow and Aramco Digital Collaboration Agreement
• Positive Sentiment: Pricefx launched a Deal Optimization App for the ServiceNow AI Platform, embedding pricing guidance, negotiation insights and product recommendations into enterprise sales workflows. The announcement supports the view that partners are using ServiceNow as an AI distribution layer, potentially increasing platform usage and ecosystem revenue. ServiceNow as an Enterprise AI Commerce Platform
• Neutral Sentiment: Analysts remain moderately optimistic despite ServiceNow’s weaker performance than some software peers. However, with a reported price-to-earnings ratio above 85, investors may require continued strong growth and successful monetization of AI initiatives to justify the valuation. ServiceNow Performance Compared With Software Peers
• Negative Sentiment: Researchers reported that attackers may be able to break out of a sandbox in the ServiceNow AI Platform. A vulnerability involving AI tools could raise concerns about customer data, enterprise security, remediation costs and reputational risk, making this the most direct company-specific pressure on the stock. ServiceNow AI Platform Sandbox Security Report
• Negative Sentiment: Multiple insiders recently sold shares, including Paul Fipps, Jacqueline Canney and Director Paul Edward Chamberlain. Some transactions were made under pre-arranged trading plans, reducing their bearish significance, but the cluster of sales may still weigh on investor sentiment. ServiceNow Insider Selling Report

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.