QRG Capital Management Inc. Buys 8,486 Shares of ServiceNow, Inc. $NOW

Key Points

• QRG Capital Management increased its ServiceNow position by 6.8% in the second quarter, buying 8,486 shares and bringing its holdings to 132,947 shares valued at approximately $13.2 million. Institutional investors collectively own 87.18% of the company.
• ServiceNow reported quarterly EPS of $0.90, exceeding the $0.86 consensus estimate, while revenue rose 24% year over year to $3.99 billion. Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $146.51.
• Insiders sold 14,081 shares worth approximately $1.94 million during the quarter, while ServiceNow shares traded at $140.70 and carried a relatively high P/E ratio of 87.94, highlighting valuation considerations for investors.

QRG Capital Management Inc. grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 132,947 shares of the information technology services provider's stock after purchasing an additional 8,486 shares during the period. QRG Capital Management Inc.'s holdings in ServiceNow were worth $13,199,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. raised its stake in shares of ServiceNow by 61.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 52,800 shares of the information technology services provider's stock valued at $5,242,000 after acquiring an additional 20,173 shares during the last quarter. State Street Corp grew its position in ServiceNow by 2.0% during the 2nd quarter. State Street Corp now owns 49,038,218 shares of the information technology services provider's stock worth $4,868,514,000 after acquiring an additional 979,726 shares during the last quarter. National Pension Service increased its holdings in ServiceNow by 5.8% during the 2nd quarter. National Pension Service now owns 2,705,240 shares of the information technology services provider's stock valued at $268,576,000 after purchasing an additional 147,467 shares in the last quarter. WINTON GROUP Ltd raised its position in ServiceNow by 45.9% in the 2nd quarter. WINTON GROUP Ltd now owns 132,411 shares of the information technology services provider's stock valued at $13,146,000 after purchasing an additional 41,653 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its stake in ServiceNow by 6.7% in the second quarter. Engineers Gate Manager LP now owns 370,643 shares of the information technology services provider's stock worth $36,797,000 after purchasing an additional 23,409 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline Canney sold 7,847 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 30,042 shares in the company, valued at $4,145,796. This trade represents a 20.71% decrease in their position. The sale 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. Also, insider Paul Fipps sold 2,034 shares of ServiceNow stock in a transaction that occurred on 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 $2,706,760.35. The trade was a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 14,081 shares of company stock valued at $1,937,904. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NOW. Citigroup restated a "market outperform" rating on shares of ServiceNow in a research note on Thursday, July 23rd. Jefferies Financial Group reissued a "buy" rating and set a $140.00 price objective (up from $135.00) on shares of ServiceNow in a report on Thursday, July 23rd. UBS Group set a $248.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. Oppenheimer reaffirmed an "outperform" rating and issued a $140.00 target price (up from $130.00) on shares of ServiceNow in a research note on Wednesday, July 15th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research note on Monday, August 3rd. 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 given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $146.51.

ServiceNow Price Performance

Shares of NOW stock opened at $140.70 on Thursday. The firm's 50 day moving average price is $125.26 and its two-hundred day moving average price is $110.61. 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, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. The stock has a market cap of $145.48 billion, a PE ratio of 87.94, a PEG ratio of 2.52 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period last year, the company earned $0.81 EPS. The firm's revenue was up 24.0% on a year-over-year basis. As a group, analysts forecast that ServiceNow, Inc. will post 2.22 EPS for the current year.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Sector rotation supported NOW: Enterprise-software stocks rallied while the broader large-cap technology group declined. The iShares Expanded Tech-Software Sector ETF gained, suggesting investors were selectively adding exposure to software despite elevated long-term Treasury yields. Enterprise Software Stocks Rally as Tech Tape Slides
• Positive Sentiment: Analyst support provided an additional catalyst: Coverage reported that ServiceNow shares rose following an analyst upgrade, while the average brokerage recommendation remains positive. Favorable ratings and price-target revisions can improve investor confidence, although they do not guarantee stronger fundamentals. ServiceNow Shares Up Following Analyst Upgrade
• Positive Sentiment: AI demand and ecosystem expansion remain key growth drivers: Recent commentary points to strong workflow-platform demand, AI partnerships, cross-selling and an expanded ecosystem. ServiceNow has reportedly raised the midpoint of its 2026 subscription-revenue outlook, reinforcing the investment case for its AI-enabled enterprise software strategy. AI Alliances and Raised Targets Could Be a Game Changer for ServiceNow
• Positive Sentiment: Customer and partner adoption broadened: INRY deployed ServiceNow EmployeeWorks in six weeks and is rolling the platform out to clients, while Xapien integrated AI-native due-diligence tools into ServiceNow workflows. These announcements support the platform’s ability to expand through partners and add AI functionality. INRY Deploys ServiceNow EmployeeWorks
• Neutral Sentiment: Analysts generally view NOW as a “Moderate Buy” and favor adding it to portfolios, but the reports also caution that consensus recommendations can be overly optimistic. ServiceNow’s faster growth and competitive position are attractive, though its valuation remains higher than some peers such as Salesforce. Wall Street Analysts Think ServiceNow Is a Good Investment

ServiceNow Company Profile

ServiceNow, Inc is a cloud-based enterprise software company that provides digital workflow and automation solutions. Its Now Platform enables organizations to manage and connect business processes across information technology, customer service, human resources, finance, legal operations and other departments.

The company's products and services include IT service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance management, strategic portfolio management and application development tools.

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