10,146 Shares in ServiceNow, Inc. $NOW Bought by Asset One Wealth Management LLC

Key Points

• Asset One Wealth Management acquired 10,146 ServiceNow shares worth approximately $1.06 million in the second quarter. Institutional investors collectively own 87.18% of the company.
• ServiceNow reported quarterly earnings of $0.90 per share, beating estimates by $0.04, while revenue rose 24% year over year to $3.99 billion.
• The stock opened at $128.73, below the analyst consensus price target of $144.24; analysts maintain a “Moderate Buy” consensus, although valuation and competition from AI-native platforms remain concerns.

Asset One Wealth Management LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,146 shares of the information technology services provider's stock, valued at approximately $1,063,000.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after buying an additional 30 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of ServiceNow by 4.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock worth $861,000 after acquiring an additional 34 shares during the period. United Bank grew its stake in shares of ServiceNow by 15.5% during the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider's stock worth $1,562,000 after acquiring an additional 204 shares during the period. Riggs Asset Managment Co. Inc. increased its holdings in ServiceNow by 2.2% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock worth $1,976,000 after acquiring an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC raised its stake in ServiceNow by 205.1% in the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock valued at $931,000 after acquiring an additional 609 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction 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 transaction, the director owned 46,690 shares of the company's stock, valued at $5,864,264. This represents a 3.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Up 0.2%

Shares of NYSE:NOW opened at $128.73 on Monday. The firm has a fifty day moving average price of $108.88 and a two-hundred day moving average price of $105.66. The company has a market cap of $133.11 billion, a price-to-earnings ratio of 80.46, a PEG ratio of 2.26 and a beta of 0.94. 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, Inc. has a one year low of $81.24 and a one year high of $194.73.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. The business had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm's revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. Analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

ServiceNow News Roundup

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

Wall Street Analyst Weigh In

NOW has been the subject of a number of research reports. Robert W. Baird increased their target price on shares of ServiceNow from $118.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. KeyCorp reissued an "underweight" rating on shares of ServiceNow in a research report on Tuesday, July 21st. DA Davidson set a $170.00 price target on shares of ServiceNow and gave the company a "buy" rating in a research note on Monday, July 20th. Citigroup reaffirmed a "market outperform" rating on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Truist Financial lifted their price objective on shares of ServiceNow from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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