Caldwell Investment Management Ltd. Purchases Shares of 7,000 ServiceNow, Inc. $NOW

Caldwell Investment Management Ltd. bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,000 shares of the information technology services provider’s stock, valued at approximately $694,000. ServiceNow accounts for about 0.5% of Caldwell Investment Management Ltd.’s holdings, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Florida Financial Advisors LLC lifted its position in ServiceNow by 5.4% during the second 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 period. Clark Capital Management Group Inc. grew its position in shares of 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 buying an additional 18 shares during the period. American Trust grew its position in shares of ServiceNow by 1.8% in the 3rd 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 during the period. Morse Asset Management Inc increased its stake in shares of 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 worth $3,586,000 after acquiring an additional 19 shares in the last quarter. Finally, CYBER HORNET ETFs LLC increased its stake in shares of ServiceNow by 3.7% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock worth $522,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

More ServiceNow News

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

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business’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 of the company’s stock, valued at $5,864,264. The trade was a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by company insiders.

ServiceNow Trading Down 0.8%

NOW stock opened at $128.73 on Friday. The company has a market capitalization of $133.11 billion, a PE ratio of 80.46, a P/E/G ratio of 2.28 and a beta of 0.94. The firm’s 50-day moving average is $108.88 and its 200 day moving average is $105.74. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month 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 released its quarterly earnings data 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. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the company posted $0.81 earnings per share. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. On average, research analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current year.

Analyst Ratings Changes

NOW has been the topic of several research reports. Wells Fargo & Company reissued an “overweight” rating and set a $175.00 price objective (up from $160.00) on shares of ServiceNow in a research note on Wednesday, August 12th. Capital One Financial lifted their price objective on ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. BTIG Research reaffirmed a “buy” rating and issued a $150.00 target price on shares of ServiceNow in a research report on Wednesday, July 22nd. Truist Financial upped their price target on shares of ServiceNow from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, Guggenheim upgraded ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Wednesday, July 1st. One 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 company’s stock. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $144.24.

ServiceNow 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.