Biondo Investment Advisors LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 116,558 shares of the information technology services provider's stock, valued at approximately $11,572,000. ServiceNow accounts for about 1.4% of Biondo Investment Advisors LLC's investment portfolio, making the stock its 29th biggest holding.
A number of other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of ServiceNow in the 2nd quarter valued at about $9,536,615,000. Vanguard Group Inc. lifted its holdings in shares of ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares during the last quarter. State Street Corp boosted its holdings in shares of ServiceNow by 406.6% during the fourth 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 boosted its stake in 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 purchasing an additional 25,517,218 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of ServiceNow by 404.8% during the fourth 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 buying an additional 18,854,775 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.
Key Headlines Impacting ServiceNow
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
ServiceNow Price Performance
NYSE:NOW opened at $128.73 on Monday. 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 company has a 50-day moving average of $108.88 and a 200-day moving average of $105.66. The company has a market capitalization of $133.11 billion, a price-to-earnings ratio of 80.46, a PEG ratio of 2.26 and a beta of 0.94. 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 posted its 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. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm's quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 EPS. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.
Insider Buying and Selling at ServiceNow
In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total value of $188,400.00. Following the sale, the director directly owned 46,690 shares in the company, valued at approximately $5,864,264. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several research firms have recently issued reports on NOW. DA Davidson set a $170.00 price objective on shares of ServiceNow and gave the company a "buy" rating in a report on Monday, July 20th. CLSA assumed coverage on ServiceNow in a research note on Monday, July 20th. They issued an "underperform" rating and a $72.00 price target on the stock. Bank of America lifted their price objective on shares of ServiceNow from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, August 19th. Guggenheim upgraded shares of ServiceNow from a "neutral" rating to a "buy" rating and set a $125.00 price target on the stock in a report on Wednesday, July 1st. Finally, TD Cowen reissued a "buy" rating and issued a $140.00 price target on shares of ServiceNow in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $144.24.
Check Out Our Latest Research Report on NOW
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.
See Also
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.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider ServiceNow, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ServiceNow wasn't on the list.
While ServiceNow currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead.
This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.
Get This Free Report
