ServiceNow, Inc. $NOW Shares Acquired by Assetmark Inc.

Key Points

• Assetmark Inc. increased its ServiceNow stake by 15.9% in Q1, buying 42,110 additional shares and bringing its total holding to 306,385 shares worth about $32.0 million.
• ServiceNow saw mixed insider activity, with insiders selling shares over the past three months, including notable sales by Jacqueline P. Canney and Paul Edward Chamberlain. Institutional investors still control 87.18% of the stock.
• Analysts remain generally upbeat: the stock has a consensus rating of Moderate Buy with a target price of about $141.03, while the company recently reported Q1 EPS of $0.97 on revenue of $3.77 billion, both in line with expectations.

Assetmark Inc. lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 306,385 shares of the information technology services provider's stock after buying an additional 42,110 shares during the quarter. Assetmark Inc.'s holdings in ServiceNow were worth $32,033,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Florida Financial Advisors LLC raised its stake in ServiceNow by 5.4% during the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider's stock valued at $280,000 after buying an additional 14 shares in the last quarter. Clark Capital Management Group Inc. boosted its holdings in ServiceNow by 3.6% in the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider's stock worth $473,000 after purchasing an additional 18 shares during the period. American Trust boosted its holdings in ServiceNow by 1.8% in the third quarter. American Trust now owns 1,029 shares of the information technology services provider's stock worth $947,000 after purchasing an additional 18 shares during the period. Morse Asset Management Inc increased its stake in ServiceNow by 0.5% during the second quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider's stock valued at $3,586,000 after purchasing an additional 19 shares during the last quarter. Finally, CYBER HORNET ETFs LLC increased its stake in ServiceNow by 3.7% during the third quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider's stock valued at $522,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Oppenheimer reissued an "outperform" rating and issued a $140.00 target price (up from $130.00) on shares of ServiceNow in a report on Wednesday. KeyCorp set a $85.00 target price on shares of ServiceNow and gave the company an "underweight" rating in a research report on Thursday, April 23rd. Weiss Ratings lowered ServiceNow from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, July 10th. Sanford C. Bernstein reissued an "outperform" rating on shares of ServiceNow in a research note on Monday, June 29th. Finally, Citic Securities cut their price target on shares of ServiceNow from $168.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $141.03.

ServiceNow Trading Down 0.6%

Shares of NOW opened at $103.40 on Friday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $210.20. The stock has a 50 day simple moving average of $103.97 and a 200-day simple moving average of $109.58. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market cap of $106.60 billion, a PE ratio of 61.62, a PEG ratio of 1.73 and a beta of 0.96.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts' consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The business's revenue was up 22.1% on a year-over-year basis. On average, sell-side analysts predict that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: TD Cowen reaffirmed its buy rating on ServiceNow and set a $140 price target, implying meaningful upside from current levels. Benzinga report on TD Cowen rating
• Positive Sentiment: BNP Paribas and RBC Capital both raised their views on ServiceNow ahead of earnings, citing conservative guidance, improving channel feedback, and stronger demand signals. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several analysts argue ServiceNow could benefit from continued AI adoption and subscription growth, which may help support an earnings beat or solid outlook when Q2 results are reported. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Neutral Sentiment: Media coverage comparing ServiceNow with UiPath highlights agentic AI as a major long-term opportunity, but this is more of a strategic theme than an immediate catalyst. UiPath Vs. ServiceNow: Which Agentic AI Stock Is the Better Buy?
• Negative Sentiment: Some analysts and commentators warn that rising costs, competition, and still-rich valuation multiples could limit upside if Q2 results or guidance disappoint. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Negative Sentiment: ServiceNow remains down sharply over the past year, and some investors still question whether the stock deserves a premium multiple after the selloff. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?

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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