ServiceNow, Inc. $NOW Shares Newly Purchased by Blue Jean Financial LLC

Key Points

• Blue Jean Financial purchased 11,999 ServiceNow shares worth approximately $1.6 million during the third quarter. Institutional investors and hedge funds collectively own 87.18% of the company.
• Analysts remain broadly bullish, with 36 Buy ratings and an average price target of $152.71. ServiceNow’s latest quarter showed 24% year-over-year revenue growth, supported by demand for AI-powered workflow automation.
• Shares opened at $149.70, but the stock carries elevated risks, including a P/E ratio above 93, a current ratio of 0.70, rising short interest and recent sales-job cuts.

Blue Jean Financial LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,999 shares of the information technology services provider's stock, valued at approximately $1,608,000.

Several other large investors have also modified their holdings of the business. BlackRock Inc. acquired a new position in shares of ServiceNow during the 2nd quarter worth approximately $9,536,615,000. State Street Corp grew its holdings 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 valued at $4,868,514,000 after buying an additional 979,726 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in ServiceNow by 16.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,638,071 shares of the information technology services provider's stock worth $1,651,828,000 after buying an additional 2,362,606 shares in the last quarter. Amundi increased its position in ServiceNow by 60.9% during the first quarter. Amundi now owns 11,479,098 shares of the information technology services provider's stock worth $1,200,140,000 after buying an additional 4,346,722 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in ServiceNow by 6.5% during the first quarter. Bank of New York Mellon Corp now owns 8,526,931 shares of the information technology services provider's stock worth $891,491,000 after buying an additional 518,263 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Analyst support and upcoming earnings: BMO Capital Markets named ServiceNow a new Top Pick, while Bernstein raised its price target to $266 and Piper Sandler and TD Cowen also lifted targets. Investors are looking for evidence of continued customer upgrades and AI-driven growth in the third-quarter report expected October 28. These 2 software stocks are new Top Picks at BMO
• Positive Sentiment: AI monetization remains the central catalyst: ServiceNow is expanding zero-code AI-agent tools, governance capabilities and workflow automation across IT, human resources, customer service and other enterprise functions. Its recent quarter showed approximately 24% year-over-year revenue growth, supporting the argument that the company can convert AI demand into higher-margin software sales. ServiceNow Orchestrates AI's Next Act—Can Earnings Deliver?
• Positive Sentiment: Technical momentum is improving: A bullish flag breakout and stronger moving-average structure could support a move through $154, with one forecast identifying a potential path toward $211 if resistance is cleared. ServiceNow Price Forecast: $154 Breakout Could Extend Recovery
• Positive Sentiment: ServiceNow expanded a partnership with Simplify Alpha to develop AI-powered, payer-specific solutions for health insurers, potentially opening another vertical for workflow and automation growth. Simplify Alpha Expands Partnership with ServiceNow
• Neutral Sentiment: ServiceNow was highlighted as a favored name in CNBC’s “Final Trades,” adding visibility among retail and professional investors. CNBC's Final Trades
• Negative Sentiment: Risks include a premium valuation near 93 times trailing earnings, increased short interest, a current ratio below 1.0 and another round of San Diego sales-job cuts. These factors could limit upside if upcoming results fail to justify elevated expectations. ServiceNow cuts San Diego sales jobs

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent research reports. Truist Financial lifted their price target on shares of ServiceNow from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Wells Fargo & Company restated an "overweight" rating and set a $190.00 target price (up from $175.00) on shares of ServiceNow in a research report on Monday, October 12th. Yorkville Ives assumed coverage on shares of ServiceNow in a research note on Monday, October 5th. They issued an "outperform" rating and a $160.00 target price for the company. BMO Capital Markets lifted their target price on shares of ServiceNow from $115.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Finally, Needham & Company LLC boosted their price target on ServiceNow from $115.00 to $155.00 and gave the company a "buy" rating in a report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $152.71.

ServiceNow Trading Up 3.0%

Shares of NOW stock opened at $149.70 on Wednesday. The firm has a market cap of $154.79 billion, a P/E ratio of 93.56, a PEG ratio of 2.67 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $192.97. 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 firm's 50-day simple moving average is $136.01 and its 200-day simple moving average is $114.34.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. ServiceNow's revenue was up 24.0% compared to the same quarter last year. As a group, equities analysts forecast that ServiceNow, Inc. will post 2.22 EPS for the current year.

Insider Buying and Selling

In related news, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction on Thursday, August 27th. The stock was 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 of the company's stock, valued at approximately $5,960,645. This trade represents a 5.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 7,847 shares of ServiceNow stock in a transaction 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 completion of the transaction, the insider owned 30,042 shares in the company, valued at $4,145,796. The trade was a 20.71% 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. Over the last quarter, insiders sold 14,081 shares of company stock valued at $1,937,904. Insiders own 0.34% of the company's stock.

About ServiceNow

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company's products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.

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