Ally Financial Inc. Invests $1.59 Million in ServiceNow, Inc. $NOW

Ally Financial Inc. purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 16,000 shares of the information technology services provider's stock, valued at approximately $1,588,000.

A number of other institutional investors have also recently modified their holdings of NOW. Vanguard Group Inc. grew its position in ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock worth $15,619,771,000 after buying an additional 81,752,460 shares during the period. BlackRock Inc. purchased a new position in ServiceNow in the second quarter valued at about $9,536,615,000. State Street Corp lifted its position in shares of ServiceNow by 406.6% during the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider's stock valued at $7,337,280,000 after acquiring an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of ServiceNow by 371.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider's stock valued at $4,962,692,000 after acquiring an additional 25,517,218 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider's stock worth $3,591,425,000 after acquiring an additional 18,854,775 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction dated 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 directly owned 46,690 shares in the company, valued at approximately $5,864,264. This represents a 3.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.34% of the company's stock.

More ServiceNow News

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NOW shares. Citic Securities dropped their price objective on ServiceNow from $168.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. Piper Sandler reiterated an "overweight" rating and set a $140.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. Oppenheimer reissued an "outperform" rating and issued a $140.00 target price (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. Weiss Ratings upgraded ServiceNow from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday. Finally, Truist Financial boosted their price objective on shares of ServiceNow from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.24.

ServiceNow Stock Performance

NYSE NOW opened at $128.73 on Monday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The stock has a market cap of $133.11 billion, a price-to-earnings ratio of 80.46, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94. The business has a fifty day moving average of $108.88 and a 200-day moving average of $105.66. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.04. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business's revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

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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