Riverview Capital Advisers LLC Has $7.30 Million Stake in ServiceNow, Inc. $NOW

Key Points

• Riverview Capital Advisers increased its ServiceNow stake by 90.8% in the second quarter to 73,571 shares valued at approximately $7.30 million, representing 2.1% of its portfolio.
• Institutional investors hold 87.18% of ServiceNow’s shares, with major firms including BlackRock, State Street, T. Rowe Price, Geode Capital and Morgan Stanley recently increasing or initiating positions.
• ServiceNow reported quarterly revenue of $3.99 billion, up 24% year over year, and beat EPS estimates; however, insider selling and a high valuation remain potential risks despite the stock’s predominantly bullish analyst ratings.

Riverview Capital Advisers LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 90.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 73,571 shares of the information technology services provider's stock after purchasing an additional 35,012 shares during the period. ServiceNow comprises approximately 2.1% of Riverview Capital Advisers LLC's portfolio, making the stock its 19th biggest position. Riverview Capital Advisers LLC's holdings in ServiceNow were worth $7,304,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of ServiceNow during the second quarter valued at approximately $9,536,615,000. State Street Corp raised its position in ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider's stock valued at $7,337,280,000 after buying an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider's stock valued at $4,962,692,000 after buying an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC lifted its stake in ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider's stock valued at $3,591,425,000 after acquiring an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley lifted its stake in ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider's stock valued at $3,482,543,000 after acquiring an additional 17,514,679 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Key ServiceNow News

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?

Insider Activity at ServiceNow

In other ServiceNow news, Director Paul Chamberlain sold 2,700 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $135.50, for a total value of $365,850.00. Following the transaction, the director directly owned 43,990 shares in the company, valued at $5,960,645. The trade was a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Fipps sold 2,034 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were 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 of the company's stock, valued at $2,706,760.35. This represents a 10.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 14,081 shares of company stock worth $1,937,904. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NOW shares. Weiss Ratings raised shares of ServiceNow from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, August 20th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $248.00 target price (up from $236.00) on shares of ServiceNow in a report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on shares of ServiceNow from $145.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. BMO Capital Markets boosted their price target on shares of ServiceNow from $115.00 to $118.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Finally, CLSA initiated coverage on shares of ServiceNow in a research report on Monday, July 20th. They issued an "underperform" rating and a $72.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $144.24.

ServiceNow Stock Down 2.9%

Shares of NYSE:NOW opened at $141.31 on Friday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $194.73. The company has a market capitalization of $146.11 billion, a PE ratio of 88.32, a price-to-earnings-growth ratio of 2.57 and a beta of 0.97. The business has a fifty day moving average price of $117.21 and a two-hundred day moving average price of $107.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick 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, topping analysts' consensus estimates of $0.86 by $0.04. The company had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business's revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 EPS. Analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

About ServiceNow

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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source