63,968 ServiceNow, Inc. $NOW Shares Purchased by GRIMES & Co WEALTH MANAGEMENT LLC

Key Points

• GRIMES & Co Wealth Management increased its ServiceNow position by 203.6%, purchasing 63,968 additional shares and bringing its holdings to 95,382 shares valued at approximately $12.8 million. Institutional investors collectively own 87.18% of the stock.
• ServiceNow’s third-quarter revenue rose 20.5% year over year to $4.11 billion and slightly exceeded estimates, but adjusted EPS of $1.00 missed expectations. Increased AI investment contributed to margin pressure, while investors remain concerned that agentic AI could weaken the company’s per-seat software model.
• The company is expanding its AI strategy through a new Control Tower Alliance with partners including OpenAI, NVIDIA, AWS, Cisco, Anthropic, and Google Cloud. Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $154.50 target price, although insiders sold shares during the latest quarter.

GRIMES & Co WEALTH MANAGEMENT LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 203.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,382 shares of the information technology services provider's stock after buying an additional 63,968 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in ServiceNow were worth $12,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOW. A. D. Beadell Investment Counsel Inc. increased its position in ServiceNow by 2.9% during the 2nd quarter. A. D. Beadell Investment Counsel Inc. now owns 2,818 shares of the information technology services provider's stock worth $279,000 after purchasing an additional 80 shares during the period. DUTCH ASSET Corp boosted its stake in shares of ServiceNow by 0.5% in the third quarter. DUTCH ASSET Corp now owns 16,331 shares of the information technology services provider's stock valued at $2,189,000 after buying an additional 82 shares in the last quarter. Atwood & Palmer Inc. boosted its stake in shares of ServiceNow by 20.0% in the second quarter. Atwood & Palmer Inc. now owns 600 shares of the information technology services provider's stock valued at $60,000 after buying an additional 100 shares in the last quarter. Diligent Investors LLC grew its holdings in ServiceNow by 4.1% during the third quarter. Diligent Investors LLC now owns 2,560 shares of the information technology services provider's stock worth $343,000 after acquiring an additional 100 shares during the period. Finally, Signature Wealth Management Partners LLC grew its holdings in ServiceNow by 3.3% during the third quarter. Signature Wealth Management Partners LLC now owns 3,281 shares of the information technology services provider's stock worth $440,000 after acquiring an additional 106 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow launched its Control Tower Alliance to help large enterprises govern and control AI deployments. Founding partners include OpenAI, NVIDIA, Amazon Web Services, Cisco, Anthropic, and Kong, while expanded collaborations with OpenAI, Google Cloud, and Hewlett Packard Enterprise could strengthen ServiceNow’s position in AI workflows, security, and enterprise support. ServiceNow Rolls Out Control Tower Alliance
• Positive Sentiment: Despite the market reaction, ServiceNow continues to show consistent revenue growth and substantially higher revenue generation than UiPath. Its workflow automation platform and enterprise integrations are also expanding faster than Adobe’s top line, supporting the long-term growth case. ServiceNow vs. UiPath Adobe vs. ServiceNow
• Neutral Sentiment: CFO Gina Mastantuono rejected the narrative that AI is disrupting enterprise software, saying ServiceNow is strategically investing in customer success and accelerating AI adoption. The explanation may reassure long-term investors, but it also highlights near-term pressure on profitability. ServiceNow CFO Discusses AI Disruption
• Negative Sentiment: Third-quarter revenue of $4.11 billion was slightly above expectations, but adjusted EPS of $1.00 missed the $1.02 consensus estimate. Management’s increased AI-related investment and business-model changes caused a notable operating-margin decline, raising questions about the pace and quality of future growth. Top Analyst Questions From ServiceNow’s Q3 Earnings Call
• Negative Sentiment: Investors are increasingly worried that agentic AI could reduce demand for per-seat software licenses, creating a broader threat to ServiceNow’s business model. This concern, combined with a downgrade from an analyst, intensified selling despite 20.5% year-over-year revenue growth. ServiceNow and Agentic AI Disruption ServiceNow Analyst Downgrade

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Argus increased their target price on shares of ServiceNow from $134.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, October 7th. Cantor Fitzgerald boosted their price target on ServiceNow from $174.00 to $201.00 and gave the stock an "overweight" rating in a research note on Monday, October 26th. Needham & Company LLC upped their price target on ServiceNow from $115.00 to $155.00 and gave the stock a "buy" rating in a report on Friday, September 11th. Mizuho set a $165.00 price target on ServiceNow in a report on Thursday. Finally, Truist Financial set a $150.00 price objective on ServiceNow and gave the company a "buy" rating in a research note on Thursday. One 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $154.50.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 7,847 shares of the 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 transaction, the insider owned 30,042 shares of the company's stock, valued at approximately $4,145,796. This represents a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of ServiceNow stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the sale, the director owned 43,990 shares in the company, valued at approximately $5,960,645. This represents a 5.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 14,081 shares of company stock valued at $1,937,904 in the last quarter. Corporate insiders own 0.34% of the company's stock.

ServiceNow Trading Up 0.8%

Shares of NOW opened at $105.96 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $109.56 billion, a P/E ratio of 76.23, a price-to-earnings-growth ratio of 2.75 and a beta of 0.99. The stock's fifty day simple moving average is $138.25 and its 200 day simple moving average is $115.29. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $184.43.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.02). The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.09 billion. ServiceNow had a net margin of 9.36% and a return on equity of 15.38%. The company's quarterly revenue was up 20.5% on a year-over-year basis. During the same period last year, the firm earned $4.82 earnings per share. On average, equities research analysts forecast that ServiceNow, Inc. will post 2.14 earnings per share for the current year.

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.

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.