Bowie Capital Management LLC Buys Shares of 233,502 ServiceNow, Inc. $NOW

Bowie Capital Management LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 233,502 shares of the information technology services provider's stock, valued at approximately $23,182,000. ServiceNow makes up approximately 1.0% of Bowie Capital Management LLC's investment portfolio, making the stock its 23rd largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Florida Financial Advisors LLC increased its holdings in shares of ServiceNow by 5.4% in the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider's stock valued at $280,000 after purchasing an additional 14 shares during the period. Clark Capital Management Group Inc. boosted its holdings in shares of ServiceNow by 3.6% during the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider's stock worth $473,000 after purchasing an additional 18 shares during the period. American Trust grew its position in ServiceNow by 1.8% during the third quarter. American Trust now owns 1,029 shares of the information technology services provider's stock valued at $947,000 after purchasing an additional 18 shares in the last quarter. Morse Asset Management Inc grew its position in ServiceNow by 0.5% during the second quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider's stock valued at $3,586,000 after purchasing an additional 19 shares in the last quarter. Finally, CYBER HORNET ETFs LLC increased its stake in ServiceNow by 3.7% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider's stock valued at $522,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

NYSE NOW opened at $129.73 on Friday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The stock's 50-day moving average is $108.36 and its two-hundred day moving average is $105.58. The firm has a market cap of $134.14 billion, a P/E ratio of 81.08, a price-to-earnings-growth 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 (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 (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.04. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm's revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 EPS. On average, analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Key ServiceNow News

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Guggenheim raised shares of ServiceNow from a "neutral" rating to a "buy" rating and set a $125.00 target price for the company in a research note on Wednesday, July 1st. Bank of America upped their price target on shares of ServiceNow from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday. DA Davidson set a $170.00 price objective on ServiceNow and gave the stock a "buy" rating in a report on Monday, July 20th. TD Cowen reissued a "buy" rating and set a $140.00 price objective on shares of ServiceNow in a research report on Monday. Finally, Cantor Fitzgerald boosted their target price on ServiceNow from $122.00 to $141.00 and gave the company an "overweight" 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, two have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $144.24.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the company'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 transaction of $188,400.00. Following the completion of the sale, the director owned 46,690 shares of the company's stock, valued at $5,864,264. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.34% of the company's stock.

ServiceNow Company 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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