21,000 Shares in ServiceNow, Inc. $NOW Acquired by Foyston Gordon & Payne Inc

Key Points

• Foyston Gordon & Payne acquired 21,000 ServiceNow shares during the second quarter, valued at approximately $2.09 million. Institutional investors collectively own 87.18% of the company.
• ServiceNow exceeded quarterly expectations, reporting $0.90 in EPS versus $0.86 expected and $3.99 billion in revenue, up 24% year over year. Shares opened at $128.73, with a market capitalization of about $133.1 billion.
• Analysts remain broadly bullish, with a “Moderate Buy” consensus rating and an average price target of $144.24, though the stock’s premium valuation and competition from newer AI-native automation platforms remain potential risks.

Foyston Gordon & Payne Inc bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 21,000 shares of the information technology services provider's stock, valued at approximately $2,085,000.

Several other large investors have also recently bought and sold shares of the company. Florida Financial Advisors LLC boosted its stake in ServiceNow by 5.4% during the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider's stock valued at $280,000 after buying an additional 14 shares during the period. Clark Capital Management Group Inc. grew its position in ServiceNow by 3.6% during the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider's stock worth $473,000 after buying an additional 18 shares in the last quarter. American Trust increased its stake in ServiceNow by 1.8% in the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider's stock worth $947,000 after acquiring an additional 18 shares during the last quarter. Morse Asset Management Inc increased its stake in ServiceNow by 0.5% in the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider's stock worth $3,586,000 after acquiring an additional 19 shares during the last quarter. Finally, CYBER HORNET ETFs LLC raised its holdings in shares of ServiceNow by 3.7% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider's stock valued at $522,000 after acquiring an additional 20 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $128.73 on Friday. The stock's 50-day moving average is $108.88 and its 200 day moving average is $105.74. The stock has a market cap of $133.11 billion, a price-to-earnings ratio of 80.46, a P/E/G ratio of 2.26 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $194.73. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. ServiceNow's revenue for the quarter was up 24.0% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on ServiceNow from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Robert W. Baird raised their target price on shares of ServiceNow from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Truist Financial boosted their price target on shares of ServiceNow from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Morgan Stanley set a $180.00 price objective on shares of ServiceNow in a research report on Tuesday, July 21st. Finally, TD Cowen reaffirmed a "buy" rating and set a $140.00 price objective on shares of ServiceNow in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $144.24.

Trending Headlines about ServiceNow

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

Insider Buying and Selling at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director directly owned 46,690 shares in the company, valued at approximately $5,864,264. The trade was a 3.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.34% of the company's stock.

About ServiceNow

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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