ServiceNow, Inc. $NOW Position Decreased by WD Rutherford LLC

WD Rutherford LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 38.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,486 shares of the information technology services provider’s stock after selling 3,385 shares during the period. WD Rutherford LLC’s holdings in ServiceNow were worth $735,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NOW. Cornerstone Financial Management LLC increased its position in shares of ServiceNow by 72.8% during the second quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 107 shares during the last quarter. Marquette Asset Management LLC raised its stake in shares of ServiceNow by 75.0% in the 2nd quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 129 shares during the period. Kilter Group LLC purchased a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $31,000. Solstein Capital LLC purchased a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $35,000. Finally, Main Street Group LTD acquired a new position in shares of ServiceNow in the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Google Cloud expanded their partnership to connect ServiceNow Action Fabric with Gemini Enterprise. The integration is intended to help AI agents execute actions across enterprise workflows, strengthening ServiceNow’s position in agentic AI and potentially increasing customer adoption. ServiceNow, Google Cloud Expand Partnership to Cover Agentic AI
• Positive Sentiment: Analysts remain constructive ahead of earnings. Cantor Fitzgerald raised its price target to $201 from $174 and maintained an overweight rating, while Bank of America lifted its target to $180 and kept a buy rating. Morgan Stanley also reiterated its buy rating, citing strong execution, AI-led demand and federal-sector opportunities. Cantor Fitzgerald Price Target Bank of America Raises ServiceNow Price Target
• Neutral Sentiment: The consensus outlook calls for third-quarter revenue of approximately $4.09 billion, representing about 20% year-over-year growth. Investors are likely to focus on current remaining performance obligations (CRPO), subscription growth, AI monetization and forward guidance. ServiceNow Q3 Earnings Preview
• Negative Sentiment: ServiceNow’s recent rally has intensified valuation concerns. With a high price-to-earnings multiple, investors may already be pricing in substantial AI-driven growth. Rising costs, competition and the possibility of cautious guidance could pressure the shares if earnings fail to exceed elevated expectations. ServiceNow: The 3 Big Reasons I’m Bailing on This Stock Ahead of Earnings

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research analyst reports. Piper Sandler increased their price objective on shares of ServiceNow from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, October 16th. Robert W. Baird boosted their target price on ServiceNow from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. UBS Group set a $165.00 target price on ServiceNow in a research report on Monday, October 19th. TD Cowen upped their price target on ServiceNow from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 15th. Finally, Stifel Nicolaus set a $160.00 price target on ServiceNow and gave the stock a “buy” rating in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $155.74.

Insider Activity

In related news, insider Jacqueline Canney sold 7,847 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the completion of the transaction, the insider directly owned 30,042 shares of the company’s stock, valued at $4,145,796. The trade was a 20.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 2,034 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $147.87, for a total value of $300,767.58. Following the completion of the sale, the insider directly owned 18,305 shares in the company, valued at $2,706,760.35. This represents a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 14,081 shares of company stock worth $1,937,904. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

Shares of NOW stock opened at $154.84 on Wednesday. The firm has a 50 day moving average of $138.95 and a two-hundred day moving average of $115.78. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $192.97.

ServiceNow Company Profile

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.