B. Metzler seel. Sohn & Co. AG bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 92,987 shares of the information technology services provider's stock, valued at approximately $9,232,000.
Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC increased its holdings in ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after acquiring an additional 30 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in ServiceNow by 4.2% during the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock valued at $861,000 after purchasing an additional 34 shares during the last quarter. United Bank boosted its position in ServiceNow by 15.5% during the second quarter. United Bank now owns 1,519 shares of the information technology services provider's stock worth $1,562,000 after purchasing an additional 204 shares during the period. Riggs Asset Managment Co. Inc. boosted its position in ServiceNow by 2.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock worth $1,976,000 after purchasing an additional 42 shares during the period. Finally, Nebula Research & Development LLC increased its stake in shares of ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock worth $931,000 after purchasing an additional 609 shares in the last quarter. 87.18% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $125.60, for a total transaction of $188,400.00. Following the completion of the transaction, the director directly owned 46,690 shares in the company, valued at $5,864,264. The trade was a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by insiders.
ServiceNow Stock Up 2.0%
Shares of NYSE:NOW opened at $129.73 on Friday. The firm has a fifty day moving average price of $108.36 and a two-hundred day moving average price of $105.58. The company has a market cap of $134.14 billion, a price-to-earnings ratio of 81.08, a PEG ratio of 2.24 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 released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.93 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The business's quarterly revenue was up 24.0% on a year-over-year basis. Analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts have recently issued reports on the stock. Sanford C. Bernstein reissued an "outperform" rating and issued a $248.00 price target (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. Jefferies Financial Group reiterated a "buy" rating and issued a $140.00 price objective (up from $135.00) on shares of ServiceNow in a research note on Thursday, July 23rd. JPMorgan Chase & Co. boosted their target price on shares of ServiceNow from $145.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. KeyCorp restated an "underweight" rating on shares of ServiceNow in a research report on Tuesday, July 21st. Finally, Citizens Jmp reaffirmed a "market outperform" rating and issued a $157.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.24.
Get Our Latest Analysis on ServiceNow
Key Headlines Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: Bank of America raised its price target to $150 from $130 and maintained a Buy rating. The firm said ServiceNow is among the software companies best positioned to monetize AI, helping support a broader software-sector rally. ServiceNow, Adobe, Workday stocks get BofA PT boost
- Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production-scale deployments. The agreement could increase adoption of ServiceNow’s AI and automation tools and reinforce its positioning as an enterprise “AI control tower.” Tech Mahindra and ServiceNow Expand Partnership
- Positive Sentiment: Several market commentaries described NOW as an AI beneficiary, citing its recurring-revenue model, enterprise workflow position, and potential for continued earnings growth. Some analysts see further upside if ServiceNow delivers a strong third quarter. ServiceNow: A Clear AI Winner
- Neutral Sentiment: Television commentators included ServiceNow among their “final trades,” while broader coverage characterized the recent move as part of a rebound in beaten-down software stocks as fears of AI-driven disruption ease. CNBC Final Trades
- Negative Sentiment: Competitive and valuation risks remain. A Forbes article highlighted an AI startup, Serval, that aims to challenge ServiceNow in enterprise automation, while the stock’s elevated valuation leaves it sensitive to slower growth or disappointing AI monetization. Serval Wants To Replace ServiceNow
- Negative Sentiment: Separate coverage reported trading pressure following insider selling, which may raise short-term concerns about executive confidence, although TD Cowen reiterated its Buy rating. ServiceNow Trading Down Following Insider Selling
About ServiceNow
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).
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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