Beacon Pointe Advisors LLC Makes New $24.23 Million Investment in ServiceNow, Inc. $NOW

Beacon Pointe Advisors LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 244,068 shares of the information technology services provider's stock, valued at approximately $24,231,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Millstone Evans Group LLC increased its position in shares of ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 132 shares during the period. CBIZ Investment Advisory Services LLC raised its position in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Blueline Advisors LLC bought a new stake in shares of ServiceNow during the fourth quarter worth $25,000. Measured Wealth Private Client Group LLC increased its stake in shares of ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after buying an additional 140 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new stake in shares of ServiceNow during the fourth quarter worth $25,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. Evercore reissued an "outperform" rating and issued a $160.00 target price on shares of ServiceNow in a research note on Thursday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $130.00 price objective on shares of ServiceNow in a report on Thursday, July 23rd. BMO Capital Markets raised their target price on shares of ServiceNow from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $145.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Finally, Citizens Jmp reaffirmed a "market outperform" rating and set a $157.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $144.24.

ServiceNow Price Performance

NOW stock opened at $144.77 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $149.69 billion, a price-to-earnings ratio of 90.48, a PEG ratio of 2.44 and a beta of 0.94. The firm has a 50 day moving average price of $112.33 and a 200-day moving average price of $106.60. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 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 company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period last year, the company earned $0.81 EPS. ServiceNow's revenue for the quarter was up 24.0% on a year-over-year basis. Equities research analysts forecast that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s recent rally was helped by Salesforce’s strong quarterly results and upbeat outlook, which eased concerns about a “SaaS-pocalypse.” Investors are increasingly viewing AI as an enhancement to existing enterprise workflows rather than a threat to core software platforms. Why ServiceNow Rallied Today
• Positive Sentiment: Analyst and market commentary highlights ServiceNow’s agentic-AI momentum, including more than $1 billion in AI annual contract value, broader enterprise adoption and potential new monetization opportunities. The company’s AI Control Tower and expanding customer spending are viewed as additional growth drivers. Agentic AI Adoption Boosts NOW's Growth Prospects
• Positive Sentiment: Wall Street remains broadly constructive, with ServiceNow receiving Buy or Moderate Buy consensus ratings. The stock has also approached technical buy points, while some analysts have issued targets as high as $150 or substantially higher. Is It Worth Investing in ServiceNow Based on Wall Street's Bullish Views?
• Neutral Sentiment: ServiceNow has risen about 70% from its yearly low and remains below its prior peak, creating debate over whether the move represents a new buying opportunity or a temporary rebound. Analysts’ median price target of approximately $134 is below the current trading level, limiting near-term upside based on that measure. Is It a Golden Opportunity to Buy ServiceNow Stock?
• Negative Sentiment: ServiceNow warned of three maximum-severity vulnerabilities that could allow unauthenticated attackers to execute code or access SQL systems. Although patches and mitigations may limit the financial impact, the disclosures create reputational, customer-retention and execution risks. Three CVSS 10.0 ServiceNow Flaws
• Negative Sentiment: At an elevated earnings multiple, the stock is vulnerable to profit-taking if AI growth slows. Jim Cramer recommended selling half a position and retaining the remainder, underscoring the sharp rally and the possibility that some optimism is already reflected in the shares. Jim Cramer’s ServiceNow Advice

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was 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 of the company's stock, valued at approximately $5,864,264. The trade was 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. 0.34% of the stock is currently owned by insiders.

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.

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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