3,448,627 Shares in ServiceNow, Inc. $NOW Bought by Corient Private Wealth LP

Corient Private Wealth LP purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,448,627 shares of the information technology services provider’s stock, valued at approximately $119,279,000. Corient Private Wealth LP owned approximately 0.33% of ServiceNow at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Perennial Investment Advisors LLC acquired a new stake in shares of ServiceNow in the 2nd quarter valued at about $220,000. Ausdal Financial Partners Inc. acquired a new position in ServiceNow during the 2nd quarter worth approximately $2,138,000. Bain Capital Venture Investors LLC bought a new position in ServiceNow in the second quarter worth approximately $113,656,737,000. Bank of America Corp DE bought a new position in ServiceNow in the second quarter worth approximately $627,355,000. Finally, Praesidium Investment Management Company LLC acquired a new stake in ServiceNow in the second quarter valued at approximately $19,512,491,000. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the transaction, the director directly owned 46,690 shares of the company’s stock, valued at $5,864,264. The trade was a 3.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.

Wall Street Analyst Weigh In

Several research firms have recently commented on NOW. Wells Fargo & Company restated an “overweight” rating and set a $175.00 price objective (up from $160.00) on shares of ServiceNow in a report on Wednesday, August 12th. BMO Capital Markets increased their target price on ServiceNow from $115.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price target on shares of ServiceNow in a research report on Thursday, July 23rd. CLSA began coverage on shares of ServiceNow in a research note on Monday, July 20th. They set an “underperform” rating and a $72.00 price target for the company. Finally, Robert W. Baird upped their price objective on shares of ServiceNow from $118.00 to $125.00 and gave the stock an “outperform” rating in a 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 issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.24.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its AI ecosystem through a multiyear partnership with Tech Mahindra, which is intended to scale enterprise AI deployments on the ServiceNow platform. The agreement supports the company’s positioning as an “AI control tower” and could drive additional platform adoption. ServiceNow In Focus Following Tech Mahindra AI Deal
• Positive Sentiment: Pricefx announced an integration that brings AI-powered pricing and deal optimization into ServiceNow sales workflows, including negotiation guidance, product recommendations and sales-agent capabilities. Such integrations may increase the platform’s usefulness and strengthen its enterprise software ecosystem. Pricefx Announces Integration with ServiceNow
• Positive Sentiment: Recent commentary remains bullish on ServiceNow’s AI growth potential, while CoreX, an elite ServiceNow partner, launched AI Horizon to help enterprises adopt AI-native workflows on the company’s platform. CoreX Launches AI Horizon
• Neutral Sentiment: Bank of America’s higher price targets for software stocks suggest improving sentiment toward the sector, although broader market futures were weaker and the benefit to NOW may be limited. Bank of America Raises Software Price Targets
• Negative Sentiment: ServiceNow shares moved lower as investors took profits following an approximately 29% one-month rally. Cooling momentum indicators and technical resistance near $150 have increased near-term selling pressure. What’s Going On With ServiceNow Stock Wednesday?
• Negative Sentiment: Investors are also assessing fair value after the rally, including the impact of a separate employee stock offering. ServiceNow’s elevated valuation leaves the stock vulnerable if AI monetization fails to accelerate.
• Negative Sentiment: Broader software-sector volatility, leveraged trading and concerns that AI-built applications could eventually displace traditional SaaS platforms are adding risk. Datadog was judged to have an edge over NOW on growth and earnings momentum, another potential rotation headwind. Momentum and Leveraged Trading Keep Software Stocks Volatile

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $125.68 on Thursday. The company has a market cap of $129.95 billion, a PE ratio of 78.55, a price-to-earnings-growth ratio of 2.23 and a beta of 0.94. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The business has a 50 day moving average price of $110.48 and a 200-day moving average price of $106.06. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) 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 company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. ServiceNow’s quarterly revenue was up 24.0% on a year-over-year basis. Equities analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

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.