Glenview Trust Co Takes Position in ServiceNow, Inc. $NOW

Key Points

• Glenview Trust Co. bought 84,816 ServiceNow shares during the second quarter, worth approximately $8.4 million. Institutional investors and hedge funds collectively own 87.18% of the company.
• ServiceNow reported quarterly revenue of $3.99 billion and adjusted earnings of $0.90 per share, exceeding analyst expectations; revenue increased 24% year over year.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $144.24, though targets range widely from $72 to $180.

Glenview Trust Co bought a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 84,816 shares of the information technology services provider's stock, valued at approximately $8,421,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in ServiceNow in the fourth quarter valued at $2,020,992,000. World Investment Advisors raised its stake in ServiceNow by 411.7% during the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider's stock worth $7,346,000 after acquiring an additional 38,583 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider's stock valued at $6,990,000 after acquiring an additional 36,274 shares during the period. Bank of Nova Scotia lifted its holdings in shares of ServiceNow by 53.3% during 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 acquiring an additional 353,749 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of ServiceNow by 280.1% in the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock valued at $1,291,758,000 after purchasing an additional 6,213,762 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $125.60, for a total transaction of $188,400.00. Following the transaction, the director directly owned 46,690 shares in the company, valued at approximately $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 accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

NOW opened at $138.50 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 stock has a market capitalization of $143.20 billion, a P/E ratio of 86.56, a price-to-earnings-growth ratio of 2.21 and a beta of 0.94. The company's 50 day simple moving average is $111.34 and its 200-day simple moving average is $106.33. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $194.73.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. The company had revenue of $3.99 billion during 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%. ServiceNow's revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 EPS. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Bank of America upped their target price on shares of ServiceNow from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. CLSA started coverage on shares of ServiceNow in a report on Monday, July 20th. They set an "underperform" rating and a $72.00 price target for the company. BMO Capital Markets boosted their price target on shares of ServiceNow from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Morgan Stanley set a $180.00 price objective on shares of ServiceNow in a research note on Tuesday, July 21st. Finally, BTIG Research reiterated a "buy" rating and issued a $150.00 target price on shares of ServiceNow in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $144.24.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Salesforce earnings lifted the sector. Salesforce’s strong quarterly results, raised guidance and “Claudeforce” AI announcement eased fears of a broad “SaaS-pocalypse.” The read-through suggests businesses are adding AI tools to existing software platforms rather than replacing them, benefiting ServiceNow. Why ServiceNow Rallied Today
• Positive Sentiment: Enterprise AI momentum remains a key catalyst. Reports highlighted ServiceNow’s more than $1 billion in AI annual contract value, expanding customer adoption and the potential for its AI Control Tower and agentic-AI products to create additional revenue streams. Agentic AI Adoption Boosts NOW's Growth Prospects Against MSFT & CRM
• Positive Sentiment: Technical and analyst sentiment improved. ServiceNow cleared an early buy point as disruption fears faded, while coverage cited positive price-target actions and a potential sector re-rating. ServiceNow, IBD Stock Of The Day
• Positive Sentiment: Platform integrations support monetization. Pricefx announced an integration that brings AI-powered deal optimization and sales guidance to ServiceNow workflows, reinforcing the platform’s ecosystem and enterprise-use case. Pricefx Announces Integration with ServiceNow

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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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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