18,058 Shares in ServiceNow, Inc. $NOW Purchased by Marathon Wealth Advisors LLC

Marathon Wealth Advisors LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,058 shares of the information technology services provider’s stock, valued at approximately $2,420,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New York Life Investment Management LLC grew its holdings in shares of ServiceNow by 3.3% during the third quarter. New York Life Investment Management LLC now owns 173,947 shares of the information technology services provider’s stock valued at $23,311,000 after buying an additional 5,586 shares in the last quarter. 71 West Capital Partners raised its position in ServiceNow by 9.4% during the third quarter. 71 West Capital Partners now owns 74,563 shares of the information technology services provider’s stock valued at $9,992,000 after buying an additional 6,418 shares during the period. Welch & Forbes LLC acquired a new position in ServiceNow during the third quarter valued at $35,398,000. Nemes Rush Group LLC lifted its stake in ServiceNow by 6.3% in the 3rd quarter. Nemes Rush Group LLC now owns 4,332 shares of the information technology services provider’s stock worth $581,000 after acquiring an additional 257 shares in the last quarter. Finally, Gryphon Financial Partners LLC lifted its stake in ServiceNow by 6.7% in the 3rd quarter. Gryphon Financial Partners LLC now owns 7,245 shares of the information technology services provider’s stock worth $971,000 after acquiring an additional 456 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In other ServiceNow news, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the transaction, the director directly owned 43,990 shares of the company’s stock, valued at $5,960,645. This represents a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Fipps sold 2,034 shares of the firm’s 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 transaction, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 15,370 shares of company stock worth $2,068,995. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Down 3.3%

NOW opened at $99.35 on Wednesday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $175.00. The business has a 50-day moving average of $134.49 and a 200-day moving average of $114.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $103.13 billion, a PE ratio of 71.48, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.02). The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.09 billion. ServiceNow had a net margin of 9.36% and a return on equity of 15.17%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.82 EPS. Equities research analysts forecast that ServiceNow, Inc. will post 2.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings lowered ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 30th. BMO Capital Markets upped their target price on ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Canaccord Genuity Group set a $145.00 price target on shares of ServiceNow in a research report on Thursday, October 29th. Oppenheimer restated an “outperform” rating and set a $165.00 price target on shares of ServiceNow in a report on Thursday, October 29th. Finally, TD Cowen lowered their price objective on shares of ServiceNow from $165.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.50.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Kyndryl and ServiceNow launched a jointly developed autonomous-operations offering on the ServiceNow Store. The AI-powered product is designed to improve productivity and automate IT issue resolution, supporting the case for ServiceNow’s AI opportunity. Kyndryl expands partnership with ServiceNow
• Positive Sentiment: Broward County, Florida, has gone live with ServiceNow’s IT Service Management and Workflow Data Fabric, providing a concrete public-sector deployment that may help demonstrate customer adoption of its workflow platform. Broward County selects ServiceNow
• Neutral Sentiment: Institutional ownership reports were mixed: 71 West Capital Partners increased its stake, while Alps Advisors reduced its position. These filings reflect differing investor views and may have limited near-term significance. 71 West Capital Partners increases stake
• Negative Sentiment: Shares weakened as Anthropic introduced new Claude tools, renewing fears that AI products could intensify competition or erode demand for enterprise software. The concern is part of a broader slide in software stocks. ServiceNow stock drops amid Anthropic’s new AI tools
• Negative Sentiment: Reports describe a steep recent decline, with investors still reacting to the October quarterly results: revenue exceeded estimates and grew year over year, but EPS came in slightly below consensus. A Pomerantz law firm investigation into potential investor claims adds another source of uncertainty, although an investigation is not a finding of wrongdoing. Pomerantz investigation notice

About ServiceNow

ServiceNow, Inc. provides cloud-based software that helps organizations manage digital workflows and automate business processes. Founded in 2004 by Fred Luddy, the company began with a focus on IT service management and has expanded its platform to support a range of enterprise operations. Its products include tools for IT service and operations management, customer service, human resources, security, and application development. ServiceNow also offers artificial intelligence capabilities, including tools designed to help organizations automate tasks and find information across workflows.