Noble Wealth Management PBC Increases Position in ServiceNow, Inc. $NOW

Key Points

• Noble Wealth Management PBC sharply increased its ServiceNow stake by 6,812.5% in the second quarter, purchasing 10,900 additional shares to hold 11,060 shares valued at approximately $1.1 million.
• ServiceNow reported strong quarterly results, with revenue rising 24% year over year to $3.99 billion and adjusted earnings of $0.90 per share, exceeding analyst expectations.
• Investor sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $143.39, although insider selling, potential workforce disruptions and possible share dilution remain risks.

Noble Wealth Management PBC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 6,812.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,060 shares of the information technology services provider's stock after purchasing an additional 10,900 shares during the quarter. Noble Wealth Management PBC's holdings in ServiceNow were worth $1,098,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NOW. Covenant Asset Management LLC increased its holdings in shares of ServiceNow by 169.2% during the fourth quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider's stock valued at $3,196,000 after acquiring an additional 13,114 shares in the last quarter. Norges Bank purchased a new stake in ServiceNow during the 4th quarter worth approximately $2,020,992,000. World Investment Advisors increased its stake in ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider's stock valued at $7,346,000 after purchasing an additional 38,583 shares in the last quarter. Moors & Cabot Inc. raised its holdings in shares of ServiceNow by 387.7% in the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider's stock worth $6,990,000 after buying an additional 36,274 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of ServiceNow by 385.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock worth $398,202,000 after buying an additional 2,064,440 shares during the period. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Up 2.7%

Shares of NOW opened at $114.24 on Tuesday. The company has a market capitalization of $118.12 billion, a price-to-earnings ratio of 71.40, a PEG ratio of 1.96 and a beta of 0.96. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The stock's 50-day moving average price is $105.88 and its 200-day moving average price is $106.01. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.93 billion. During the same period last year, the business earned $0.81 earnings per share. ServiceNow's quarterly revenue was up 24.0% on a year-over-year basis. On average, sell-side analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current year.

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider owned 12,072 shares of the company's stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Also, Director Anita M. Sands sold 16,445 shares of the business's stock in a transaction on Thursday, May 14th. The shares were 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 owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,144 shares of company stock valued at $1,730,097 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: AI growth is strengthening the investment case: ServiceNow’s AI portfolio surpassed $1 billion in annual contract value, providing evidence that its AI-enabled workflow products are generating meaningful commercial demand. ServiceNow AI ACV and layoffs article
• Positive Sentiment: Cost controls are being viewed favorably: ServiceNow is reshaping its workforce toward AI-focused roles, with reports ranging from nearly 300 Silicon Valley layoffs to a broader plan affecting as many as 1,000 positions. Management reportedly intends to keep overall headcount roughly flat, suggesting redeployment and efficiency gains rather than a retreat from growth. The stock’s recent advance indicates investors are treating the move as margin-positive. ServiceNow job cuts article
• Positive Sentiment: Recent operating results exceeded expectations: Second-quarter revenue reached approximately $3.99 billion, up 24% year over year, while earnings per share beat consensus estimates. This provides fundamental support for the bullish reaction to the AI and restructuring announcements. ServiceNow quarterly results article
• Neutral Sentiment: Analyst sentiment remains constructive but not aggressively bullish: Brokerages currently assign ServiceNow a consensus “Moderate Buy” rating. Separately, some market strategists see beaten-down enterprise software companies as offering value, although they believe hyperscalers have clearer near-term AI monetization. ServiceNow consensus rating article
• Negative Sentiment: Execution and workforce risks remain: Layoffs could disrupt teams, and the differing estimates of 300 versus up to 1,000 affected employees create uncertainty about the restructuring’s scope. ServiceNow also filed shelf registrations tied to employee stock plans, which could contribute to future share dilution. ServiceNow layoffs article

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Piper Sandler reissued an "overweight" rating and set a $140.00 price objective on shares of ServiceNow in a report on Thursday, July 23rd. UBS Group set a $248.00 price target on ServiceNow in a research note on Thursday, July 23rd. Stifel Nicolaus cut their price objective on ServiceNow from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Citigroup restated a "market outperform" rating on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, Raymond James Financial decreased their target price on ServiceNow from $160.00 to $130.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $143.39.

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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