Diversify Advisory Services LLC Invests $27.99 Million in ServiceNow, Inc. $NOW

Diversify Advisory Services LLC acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 265,190 shares of the information technology services provider's stock, valued at approximately $27,993,000.

Other hedge funds have also added to or reduced their stakes in the company. Florida Financial Advisors LLC raised its position 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 worth $280,000 after purchasing an additional 14 shares during the last quarter. Clark Capital Management Group Inc. grew its position in ServiceNow by 3.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider's stock valued at $473,000 after purchasing an additional 18 shares during the last quarter. American Trust increased its stake in ServiceNow by 1.8% during the 3rd 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 raised its holdings in ServiceNow by 0.5% in the second quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider's stock worth $3,586,000 after buying an additional 19 shares during the last quarter. Finally, CYBER HORNET ETFs LLC raised its holdings in ServiceNow by 3.7% in the third quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider's stock worth $522,000 after buying an additional 20 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NOW shares. Mizuho cut their price target on shares of ServiceNow from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Barclays restated an "overweight" rating and issued a $134.00 price objective (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. JPMorgan Chase & Co. increased their target price on ServiceNow from $145.00 to $150.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. DA Davidson set a $170.00 target price on ServiceNow and gave the stock a "buy" rating in a report on Monday, July 20th. Finally, Capital One Financial boosted their price target on ServiceNow from $105.00 to $120.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $143.76.

ServiceNow Stock Up 1.6%

Shares of ServiceNow stock opened at $119.57 on Wednesday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The company's 50 day moving average is $107.40 and its 200 day moving average is $105.41. The company has a market cap of $123.63 billion, a price-to-earnings ratio of 74.73, a price-to-earnings-growth ratio of 2.18 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.04. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm's revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. Research analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current year.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New ServiceNow AI-platform partnership. Tribal launched Tribal for ServiceNow, allowing enterprise teams—not only developers—to build and personalize AI agents within the ServiceNow environment. The partnership could improve platform adoption and reinforce ServiceNow’s position in enterprise workflow automation. Tribal Partners with ServiceNow
• Positive Sentiment: AI security strategy is expanding. ServiceNow’s planned $7.75 billion acquisition of Armis would add cybersecurity capabilities to its AI-powered platform and broaden its addressable market. Analysts also point to security and AI workflow opportunities as potential drivers of sustained recurring-revenue growth. ServiceNow Is Spending $7.75 Billion on AI Security
• Positive Sentiment: Analyst remains bullish. TD Cowen reaffirmed a Buy rating and a $140 price target. ServiceNow’s latest reported quarter showed revenue growth of approximately 24% year over year, supporting the case that AI is adding to—not replacing—existing platform demand. ServiceNow Earns Buy Rating
• Neutral Sentiment: Insider sale was modest and scheduled. Director Paul Edward Chamberlain sold 1,500 shares for roughly $188,400 under a pre-arranged Rule 10b5-1 plan. The transaction reduced his position by 3.11%, but provides limited insight into current management sentiment. SEC Insider Filing
• Negative Sentiment: Valuation and business-model risks remain. Commentators say NOW still looks expensive despite its steep prior decline. Parnassus CIO Todd Ahlsten also warned that AI could pressure per-seat software pricing if companies accomplish more with fewer employees. Salesforce and ServiceNow Business Model Risk
• Negative Sentiment: Software-sector rotation is a headwind. Investors have been favoring semiconductor and AI-hardware stocks over SaaS names, contributing to weakness across software. The Armis deal also creates integration and execution risks.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the firm's stock in a transaction 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 in the company, valued at $5,864,264. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by company insiders.

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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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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