AMI Asset Management Corp Acquires 7,715 Shares of ServiceNow, Inc. $NOW

AMI Asset Management Corp lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 352,058 shares of the information technology services provider's stock after purchasing an additional 7,715 shares during the quarter. ServiceNow comprises about 2.7% of AMI Asset Management Corp's portfolio, making the stock its 16th biggest position. AMI Asset Management Corp's holdings in ServiceNow were worth $47,179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. Cornerstone Financial Management LLC raised its stake in ServiceNow by 72.8% in the second quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider's stock valued at $25,000 after buying an additional 107 shares during the last quarter. CrossGen Wealth LLC acquired a new stake in ServiceNow in the first quarter worth about $29,000. Marquette Asset Management LLC boosted its holdings in ServiceNow by 75.0% in the second quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider's stock worth $30,000 after acquiring an additional 129 shares in the last quarter. Kilter Group LLC purchased a new stake in shares of ServiceNow during the second quarter worth about $31,000. Finally, Solstein Capital LLC purchased a new stake in shares of ServiceNow during the second quarter worth about $35,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NOW. Citigroup restated a "buy" rating and set a $170.00 price objective (up from $154.00) on shares of ServiceNow in a report on Wednesday, October 14th. Stifel Nicolaus set a $160.00 target price on shares of ServiceNow and gave the stock a "buy" rating in a research note on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ServiceNow from $135.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, September 21st. Weiss Ratings upgraded shares of ServiceNow from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and an average price target of $152.71.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Analyst support and upcoming earnings: BMO Capital Markets named ServiceNow a new Top Pick, while Bernstein raised its price target to $266 and Piper Sandler and TD Cowen also lifted targets. Investors are looking for evidence of continued customer upgrades and AI-driven growth in the third-quarter report expected October 28. These 2 software stocks are new Top Picks at BMO
• Positive Sentiment: AI monetization remains the central catalyst: ServiceNow is expanding zero-code AI-agent tools, governance capabilities and workflow automation across IT, human resources, customer service and other enterprise functions. Its recent quarter showed approximately 24% year-over-year revenue growth, supporting the argument that the company can convert AI demand into higher-margin software sales. ServiceNow Orchestrates AI's Next Act—Can Earnings Deliver?
• Positive Sentiment: Technical momentum is improving: A bullish flag breakout and stronger moving-average structure could support a move through $154, with one forecast identifying a potential path toward $211 if resistance is cleared. ServiceNow Price Forecast: $154 Breakout Could Extend Recovery
• Positive Sentiment: ServiceNow expanded a partnership with Simplify Alpha to develop AI-powered, payer-specific solutions for health insurers, potentially opening another vertical for workflow and automation growth. Simplify Alpha Expands Partnership with ServiceNow
• Neutral Sentiment: ServiceNow was highlighted as a favored name in CNBC’s “Final Trades,” adding visibility among retail and professional investors. CNBC's Final Trades
• Negative Sentiment: Risks include a premium valuation near 93 times trailing earnings, increased short interest, a current ratio below 1.0 and another round of San Diego sales-job cuts. These factors could limit upside if upcoming results fail to justify elevated expectations. ServiceNow cuts San Diego sales jobs

Insiders Place Their Bets

In other news, Director Paul Chamberlain sold 2,700 shares of the company's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total value of $365,850.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $1,082,886.00. Following the completion of the sale, the insider owned 30,042 shares in the company, valued at $4,145,796. The trade was a 20.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 14,081 shares of company stock valued at $1,937,904. 0.34% of the stock is owned by insiders.

ServiceNow Trading Up 3.0%

ServiceNow stock opened at $149.70 on Wednesday. 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, Inc. has a 52 week low of $81.24 and a 52 week high of $192.97. The company has a market capitalization of $154.79 billion, a price-to-earnings ratio of 76.18, a price-to-earnings-growth ratio of 2.67 and a beta of 0.99. The stock has a 50-day moving average price of $136.01 and a 200 day moving average price of $114.34.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results 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. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%. The firm had revenue of $3.99 billion for 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. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.22 EPS for the current year.

About ServiceNow

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.

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