Corient Private Wealth LP Sells 91,386 Shares of ServiceNow, Inc. $NOW

Corient Private Wealth LP decreased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,157,170 shares of the information technology services provider's stock after selling 91,386 shares during the quarter. Corient Private Wealth LP owned approximately 0.11% of ServiceNow worth $114,884,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NOW. Norges Bank acquired a new position in shares of ServiceNow in the 4th quarter valued at approximately $2,020,992,000. Moors & Cabot Inc. boosted its stake in shares of ServiceNow by 387.7% in the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider's stock worth $6,990,000 after buying an additional 36,274 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of ServiceNow by 53.3% in the first quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider's stock valued at $106,436,000 after buying an additional 353,749 shares during the period. Huntington National Bank grew its position in shares of ServiceNow by 397.1% during the 4th quarter. Huntington National Bank now owns 544,257 shares of the information technology services provider's stock valued at $83,375,000 after purchasing an additional 434,761 shares in the last quarter. Finally, Orange Investment Advisors Inc. raised its stake in shares of ServiceNow by 449.0% during the fourth quarter. Orange Investment Advisors Inc. now owns 31,694 shares of the information technology services provider's stock worth $4,855,000 after acquiring an additional 25,921 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research analyst reports. Benchmark reiterated a "buy" rating on shares of ServiceNow in a report on Friday, July 17th. KeyCorp reissued an "underweight" rating on shares of ServiceNow in a report on Tuesday, July 21st. Royal Bank Of Canada restated an "outperform" rating and set a $130.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. Truist Financial increased their price objective on ServiceNow from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Finally, BTIG Research increased their price objective on shares of ServiceNow from $150.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $145.71.

Insiders Place Their Bets

In related news, Director Paul Chamberlain sold 2,700 shares of ServiceNow stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of the sale, the director owned 43,990 shares in the company, valued at approximately $5,960,645. This trade represents a 5.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 2,034 shares of the firm's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the completion of the transaction, the insider owned 18,305 shares in the company, valued at $2,706,760.35. The trade was a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 14,081 shares of company stock worth $1,937,904. Insiders own 0.34% of the company's stock.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Needham raises ServiceNow target to $155: Needham & Company upgraded NOW to “buy” and increased its price target from $115 to $155, implying approximately 17% upside from the referenced share price. The move was part of a broader group of analyst target increases and is the clearest near-term catalyst for the stock. ServiceNow analyst forecasts
• Positive Sentiment: Agentic AI adoption is accelerating: ServiceNow is described as a leader in enterprise agentic AI, with production deployments increasing ninefold over nine months. Analysts expect AI-related revenue to grow substantially through 2030, supporting the long-term growth narrative. ServiceNow agentic AI analysis
• Positive Sentiment: Expanded AI visibility and ecosystem activity: ServiceNow will partner with Fortune on an October AI summit focused on commercializing AI, while RoboMQ launched an identity-governance application on the ServiceNow Store. These developments reinforce ServiceNow’s positioning as an enterprise workflow and AI platform, although they are unlikely to materially affect near-term revenue. Fortune AIQ Summit partnership
• Neutral Sentiment: Coverage on AI and cybersecurity highlights ServiceNow’s strategic relevance as businesses seek integrated automation, security and governance tools. However, the reports provide limited new financial guidance. AI and cybersecurity reshaping ServiceNow
• Negative Sentiment: Despite its growth prospects, AI revenue remains a relatively small portion of ServiceNow’s overall business, and the stock’s elevated valuation leaves it sensitive to any slowdown in enterprise spending or AI monetization.

ServiceNow Trading Up 1.0%

NOW opened at $132.49 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The business has a fifty day moving average price of $120.27 and a 200 day moving average price of $108.91. The stock has a market capitalization of $136.99 billion, a price-to-earnings ratio of 82.81, a PEG ratio of 2.41 and a beta of 0.97. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the previous year, the firm earned $0.81 EPS. The company's revenue was up 24.0% compared to the same quarter last year. Sell-side analysts expect that ServiceNow, Inc. will post 2.22 earnings per share for the current fiscal year.

ServiceNow Company Profile

ServiceNow, Inc is a cloud-based enterprise software company that provides digital workflow and automation solutions. Its Now Platform enables organizations to manage and connect business processes across information technology, customer service, human resources, finance, legal operations and other departments.

The company's products and services include IT service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance management, strategic portfolio management and application development tools.

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