Figure 8 Investment Strategies LLC Acquires 11,498 Shares of ServiceNow, Inc. $NOW

Key Points

• Figure 8 Investment Strategies increased its ServiceNow stake by 153.6% in the second quarter, acquiring 11,498 shares for a total holding of 18,986 shares valued at approximately $1.89 million.
• Institutional ownership remains high at 87.18%, while insiders sold 14,081 shares worth about $1.94 million over the past three months.
• ServiceNow reported quarterly revenue of $3.99 billion, up 24% year over year, and exceeded earnings expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $144.24.

Figure 8 Investment Strategies LLC increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 153.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 18,986 shares of the information technology services provider's stock after buying an additional 11,498 shares during the quarter. ServiceNow accounts for approximately 1.6% of Figure 8 Investment Strategies LLC's portfolio, making the stock its 23rd largest holding. Figure 8 Investment Strategies LLC's holdings in ServiceNow were worth $1,885,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in NOW. Ameliora Wealth Management Ltd. grew its position in shares of ServiceNow by 176.1% during the 2nd quarter. Ameliora Wealth Management Ltd. now owns 1,960 shares of the information technology services provider's stock valued at $195,000 after acquiring an additional 1,250 shares during the period. Nvest Financial LLC raised its holdings in shares of ServiceNow by 34.3% in the 2nd quarter. Nvest Financial LLC now owns 3,706 shares of the information technology services provider's stock worth $368,000 after purchasing an additional 946 shares during the period. Saudi Central Bank raised its stake in shares of ServiceNow by 91.2% in the second quarter. Saudi Central Bank now owns 73,220 shares of the information technology services provider's stock valued at $7,269,000 after buying an additional 34,928 shares during the period. Angeles Wealth Management LLC lifted its holdings in ServiceNow by 9.9% during the second quarter. Angeles Wealth Management LLC now owns 15,411 shares of the information technology services provider's stock valued at $1,530,000 after purchasing an additional 1,393 shares during the last quarter. Finally, Riverview Capital Advisers LLC boosted its holdings in ServiceNow by 90.8% in the 2nd quarter. Riverview Capital Advisers LLC now owns 73,571 shares of the information technology services provider's stock worth $7,304,000 after buying an additional 35,012 shares during the period. Institutional investors own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 2,034 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $147.87, for a total transaction of $300,767.58. Following the transaction, the insider directly owned 18,305 shares in the company, valued at approximately $2,706,760.35. This represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline Canney sold 7,847 shares of the firm's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the transaction, the insider directly owned 30,042 shares in the company, valued at approximately $4,145,796. This represents a 20.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 14,081 shares of company stock worth $1,937,904. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Benchmark reissued a "buy" rating on shares of ServiceNow in a report on Friday, July 17th. Weiss Ratings upgraded ServiceNow from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, August 20th. Truist Financial lifted their price objective on ServiceNow from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Wells Fargo & Company restated an "overweight" rating and set a $175.00 target price (up from $160.00) on shares of ServiceNow in a research report on Wednesday, August 12th. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $248.00 target price (up from $236.00) on shares of ServiceNow in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $144.24.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow was selected as a “final trade” on CNBC’s Halftime Report, with the bullish case citing analyst support and the company’s opportunity to expand its AI offerings. Nvidia, ServiceNow, Spotify And A Financial Stock On CNBC’s Final Trades
• Positive Sentiment: ServiceNow gained alongside enterprise AI software peers as investor concerns that AI could weaken traditional seat-based software revenue eased. The broader sector rebound provided a favorable trading backdrop for NOW. Palantir Rallies 7% as PwC Alliance Counters Michael Burry Bear Case
• Positive Sentiment: Partner adoption is strengthening ServiceNow’s AI-platform narrative. Pricefx’s Deal Optimization App embeds AI pricing, negotiation, and recommendation tools into ServiceNow workflows, suggesting the platform is becoming an important distribution channel for enterprise AI applications. Is ServiceNow Quietly Becoming the Default AI Commerce Platform for Enterprise Partners?
• Neutral Sentiment: Analysts and investors remain selective within the software group. Although the sector has rebounded, commentary emphasizes that strong performance varies widely among companies, increasing scrutiny of ServiceNow’s valuation and growth durability. Software Stocks Are Back. 2 Winners, 2 Losers—and Salesforce
• Negative Sentiment: Reports of insider selling are weighing on sentiment and may be prompting investors to lock in gains after ServiceNow’s recent rally. Separate coverage also questioned whether the stock’s rapid advance has outpaced near-term fundamentals, making profit-taking a risk. ServiceNow Stock Price Down Following Insider Selling ServiceNow Just Rallied 28% in a Month: Take Profits, or Buy More?

ServiceNow Stock Performance

NYSE NOW opened at $141.31 on Friday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. The company has a fifty day moving average of $117.21 and a 200-day moving average of $107.95. The company has a market capitalization of $146.11 billion, a P/E ratio of 88.32, a P/E/G ratio of 2.57 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.93 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The firm's revenue was up 24.0% on a year-over-year basis. As a group, equities research analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

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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