Everest Financial Group LLC Buys 16,481 Shares of ServiceNow, Inc. $NOW

Key Points

• Everest Financial Group LLC increased its ServiceNow stake by 18.7% in the first quarter, buying 16,481 additional shares and lifting its holdings to 104,769 shares worth about $10.95 million.
• ServiceNow reported strong Q2 results, with revenue up 24% year over year and EPS of $0.90 beating estimates; management also raised guidance and highlighted AI contract value above $1 billion.
• Despite the upbeat operating performance, some insiders sold shares and analysts remained mixed, with several price target cuts but an overall “Moderate Buy” consensus target of $143.39.

Everest Financial Group LLC raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 18.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,769 shares of the information technology services provider's stock after buying an additional 16,481 shares during the quarter. ServiceNow accounts for about 1.8% of Everest Financial Group LLC's portfolio, making the stock its 13th largest position. Everest Financial Group LLC's holdings in ServiceNow were worth $10,954,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOW. Florida Financial Advisors LLC increased its stake 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 acquiring an additional 14 shares during the last quarter. Clark Capital Management Group Inc. boosted its stake 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 worth $473,000 after acquiring an additional 18 shares during the last quarter. American Trust grew its holdings 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 during the period. Morse Asset Management Inc grew its holdings 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 during the period. Finally, CYBER HORNET ETFs LLC increased its stake 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 valued at $522,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Insider Activity

In other news, Director Anita M. Sands sold 16,445 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares of the company's stock, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider owned 12,072 shares of the company's stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 19,144 shares of company stock worth $1,730,097 over the last three months. Corporate insiders own 0.34% of the company's stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s Q2 results showed robust growth, with revenue up about 24% year over year and subscription revenue accelerating, reinforcing that demand for its platform remains strong. Article Title
• Positive Sentiment: Management raised guidance and highlighted AI momentum, including AI contract value topping $1 billion and expanding enterprise adoption, which supports the case for continued growth. Article Title
• Positive Sentiment: Several analysts raised or reaffirmed bullish ratings and price targets after earnings, reflecting renewed confidence in ServiceNow’s outlook and valuation upside. Article Title
• Positive Sentiment: New partnerships and channel expansions, including deals with Experian, TeamViewer, and Exclusive Networks, suggest broader adoption of ServiceNow’s AI and cybersecurity offerings. Article Title
• Neutral Sentiment: Investors are also watching mixed signals from insider and institutional trading, with some large funds trimming positions even as others add shares; this appears more like portfolio rebalancing than a clear fundamental warning. Article Title
• Negative Sentiment: Despite the earnings beat, some commentary says the stock’s rally may be vulnerable if AI disruption fears return, especially around usage-based pricing and long-term software demand. Article Title

Analysts Set New Price Targets

Several equities research analysts have weighed in on NOW shares. Wells Fargo & Company cut their target price on shares of ServiceNow from $185.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. HSBC decreased their price target on shares of ServiceNow from $226.00 to $171.00 and set a "buy" rating for the company in a report on Thursday, April 16th. Piper Sandler restated an "overweight" rating and issued a $140.00 price objective on shares of ServiceNow in a research report on Thursday. BTIG Research reaffirmed a "buy" rating and set a $150.00 price objective on shares of ServiceNow in a research note on Wednesday. Finally, KeyCorp reiterated an "underweight" rating on shares of ServiceNow in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $143.39.

ServiceNow Stock Up 7.4%

ServiceNow stock opened at $98.77 on Friday. The company has a 50 day moving average of $104.77 and a 200-day moving average of $107.70. The company has a quick ratio of 0.84, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $201.15. The stock has a market capitalization of $101.83 billion, a PE ratio of 61.73, a price-to-earnings-growth ratio of 1.65 and a beta of 0.96.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.86 by $0.04. The business had revenue of $3.99 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. On average, equities research analysts anticipate that ServiceNow, Inc. will post 2.33 EPS for the current fiscal year.

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.

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