NewEdge Advisors LLC Grows Stock Holdings in ServiceNow, Inc. $NOW

NewEdge Advisors LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 10.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,324 shares of the information technology services provider’s stock after purchasing an additional 14,641 shares during the quarter. NewEdge Advisors LLC’s holdings in ServiceNow were worth $14,924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its stake in shares of ServiceNow by 9,980.9% during the 2nd quarter. California State Teachers Retirement System now owns 154,496,061 shares of the information technology services provider’s stock valued at $15,338,369,000 after acquiring an additional 152,963,494 shares during the last quarter. BlackRock Inc. purchased a new position in ServiceNow during the second quarter worth approximately $9,536,615,000. State Street Corp boosted its holdings in shares of ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after purchasing an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ServiceNow by 371.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after buying an additional 25,517,218 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in ServiceNow by 404.8% in the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after acquiring an additional 18,854,775 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 2,034 shares of the business’s stock in a transaction 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 sale, the insider directly owned 18,305 shares of the company’s stock, valued at $2,706,760.35. The trade was a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 7,847 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the sale, the insider directly owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. This trade represents a 20.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 14,081 shares of company stock valued at $1,937,904. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Trading Up 1.0%

Shares of NYSE:NOW opened at $132.49 on Friday. 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 company’s 50-day moving average price is $120.27 and its 200 day moving average price is $108.91. The company has a market cap of $136.99 billion, a PE ratio of 82.81, a P/E/G ratio of 2.41 and a beta of 0.97. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73.

ServiceNow (NYSE:NOW) last posted 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 quarter in the previous year, the business earned $0.81 EPS. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.22 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on NOW. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Morgan Stanley set a $180.00 price target on ServiceNow in a report on Tuesday, July 21st. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $175.00 target price (up from $160.00) on shares of ServiceNow in a research report on Wednesday, August 12th. Citigroup reiterated a “market outperform” rating on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, Weiss Ratings upgraded shares of ServiceNow from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.71.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Needham raises ServiceNow target to $155: Needham & Company upgraded NOW to “buy” and increased its price target from $115 to $155, implying approximately 17% upside from the referenced share price. The move was part of a broader group of analyst target increases and is the clearest near-term catalyst for the stock. ServiceNow analyst forecasts
• Positive Sentiment: Agentic AI adoption is accelerating: ServiceNow is described as a leader in enterprise agentic AI, with production deployments increasing ninefold over nine months. Analysts expect AI-related revenue to grow substantially through 2030, supporting the long-term growth narrative. ServiceNow agentic AI analysis
• Positive Sentiment: Expanded AI visibility and ecosystem activity: ServiceNow will partner with Fortune on an October AI summit focused on commercializing AI, while RoboMQ launched an identity-governance application on the ServiceNow Store. These developments reinforce ServiceNow’s positioning as an enterprise workflow and AI platform, although they are unlikely to materially affect near-term revenue. Fortune AIQ Summit partnership
• Neutral Sentiment: Coverage on AI and cybersecurity highlights ServiceNow’s strategic relevance as businesses seek integrated automation, security and governance tools. However, the reports provide limited new financial guidance. AI and cybersecurity reshaping ServiceNow
• Negative Sentiment: Despite its growth prospects, AI revenue remains a relatively small portion of ServiceNow’s overall business, and the stock’s elevated valuation leaves it sensitive to any slowdown in enterprise spending or AI monetization.

ServiceNow Profile

ServiceNow, Inc is a cloud-based enterprise software company that provides digital workflow and automation solutions. Its Now Platform enables organizations to manage and connect business processes across information technology, customer service, human resources, finance, legal operations and other departments.

The company’s products and services include IT service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance management, strategic portfolio management and application development tools.