George Kaiser Family Foundation purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 28,645 shares of the information technology services provider's stock, valued at approximately $2,844,000. ServiceNow comprises about 0.3% of George Kaiser Family Foundation's portfolio, making the stock its 12th biggest holding.
A number of other large investors have also recently bought and sold shares of NOW. Brighton Jones LLC increased its holdings in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after purchasing an additional 30 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of ServiceNow by 4.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock worth $861,000 after buying an additional 34 shares in the last quarter. United Bank boosted its holdings in shares of ServiceNow by 15.5% during the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider's stock worth $1,562,000 after buying an additional 204 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its position in shares of ServiceNow by 2.2% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock worth $1,976,000 after buying an additional 42 shares during the period. Finally, Nebula Research & Development LLC grew its position in shares of ServiceNow by 205.1% during the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock worth $931,000 after buying an additional 609 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.
ServiceNow Price Performance
Shares of NOW opened at $128.73 on Friday. The business's fifty day moving average is $108.88 and its 200 day moving average is $105.74. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-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 stock has a market cap of $133.11 billion, a P/E ratio of 80.46, a P/E/G ratio of 2.26 and a beta of 0.94.
ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly 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 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 analyst estimates of $3.93 billion. During the same quarter in the previous year, the business posted $0.81 EPS. ServiceNow's quarterly revenue was up 24.0% on a year-over-year basis. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.
Key Stories Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production. The “Client Zero” approach combines ServiceNow’s AI platform with Tech Mahindra’s industry expertise, potentially increasing adoption, automation revenue and measurable customer outcomes. Tech Mahindra and ServiceNow Expand Partnership to Deliver Production-Ready Enterprise AI at Scale
- Positive Sentiment: Bank of America raised its ServiceNow price target to $150, citing the company’s positioning to monetize artificial intelligence as concerns about AI disruption to traditional software fade. The move contributed to broader bullish sentiment across software stocks. Bank of America Increases ServiceNow Price Target to $150
- Positive Sentiment: ServiceNow has gained substantially since its latest earnings report, which beat estimates on both adjusted earnings and revenue. Quarterly revenue increased 24% year over year, reinforcing the view that the company remains a leading enterprise AI and workflow platform. ServiceNow Up 41.1% Since Last Earnings Report
- Positive Sentiment: ServiceNow was also selected as a CNBC “Final Trade,” providing additional visibility and signaling continued support from some professional investors. Final Trades: ServiceNow, Vertex and Uber
- Neutral Sentiment: Despite the favorable company news, midday AI buying has been concentrated in government-facing companies such as Palantir and BigBear.ai rather than enterprise software, limiting near-term upside for NOW. How Are Traders Picking the Software Winners?
- Negative Sentiment: Investors continue to monitor competitive threats from newer AI-native automation platforms, including Serval, as well as ServiceNow’s premium valuation. Those concerns may encourage profit-taking after the stock’s sharp post-earnings advance. Serval Wants To Replace ServiceNow With AI That Builds Enterprise Automation
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on NOW. DA Davidson set a $170.00 price objective on shares of ServiceNow and gave the company a "buy" rating in a research note on Monday, July 20th. Jefferies Financial Group restated a "buy" rating and issued a $140.00 price target (up from $135.00) on shares of ServiceNow in a report on Thursday, July 23rd. CLSA assumed coverage on shares of ServiceNow in a research note on Monday, July 20th. They issued an "underperform" rating and a $72.00 price target for the company. Piper Sandler reiterated an "overweight" rating and set a $140.00 price objective on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Citigroup reissued a "market outperform" rating on shares of ServiceNow in a research report on Thursday, July 23rd. One equities 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $144.24.
Check Out Our Latest Analysis on NOW
Insider Activity
In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the completion of the sale, the director directly owned 46,690 shares of the company's stock, valued at $5,864,264. The trade was a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 owned by corporate insiders.
About ServiceNow
(
Free Report)
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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