ServiceNow, Inc. $NOW Shares Purchased by Boothe Investment Group Inc.

Boothe Investment Group Inc. grew its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 54.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,466 shares of the information technology services provider's stock after purchasing an additional 33,217 shares during the period. ServiceNow comprises about 3.2% of Boothe Investment Group Inc.'s investment portfolio, making the stock its 9th biggest position. Boothe Investment Group Inc.'s holdings in ServiceNow were worth $9,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of the company. Covenant Asset Management LLC raised its position in ServiceNow by 169.2% in the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider's stock valued at $3,196,000 after purchasing an additional 13,114 shares during the last quarter. Norges Bank acquired a new stake in ServiceNow in the fourth quarter valued at about $2,020,992,000. World Investment Advisors boosted its stake in shares of ServiceNow by 411.7% in the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider's stock valued at $7,346,000 after buying an additional 38,583 shares in the last quarter. Cohen Klingenstein LLC raised its position in ServiceNow by 400.0% in the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock worth $1,532,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Moors & Cabot Inc. raised its position in 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 acquiring an additional 36,274 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s latest quarterly results showed continued momentum: revenue rose 24% year over year to approximately $4 billion, while adjusted earnings exceeded consensus expectations. Management also raised guidance, and AI-related contract value surpassed $1 billion ahead of internal targets. ServiceNow Stock Opinions on Q2 Earnings Results
• Positive Sentiment: Analysts and investors remain constructive on ServiceNow’s workflow-automation and agentic-AI opportunity. An investment analysis cited accelerating user retention, pricing power, a growing security and risk business, and a long-term target of $30 billion to $32 billion in subscription revenue by 2030. The analysis raised its fair-value estimate to $160. ServiceNow User Retention Is Accelerating
• Positive Sentiment: Dynamic Lifecycle Innovations launched a new application on the ServiceNow platform for IT asset disposition, expanding the company’s partner ecosystem and demonstrating additional use cases for its workflow technology. Dynamic Lifecycle Innovations Launches New ServiceNow App
• Neutral Sentiment: ServiceNow’s valuation remains a major debate. The stock is well below its recent highs, while the average analyst price target is around $140 and a separate survey reports a $134 median target, indicating substantial potential upside but also skepticism about how quickly AI growth will translate into results. ServiceNow Showing Signs of Life
• Negative Sentiment: ServiceNow could eliminate up to 1,000 positions this year as part of a planned “rightsizing” effort following a series of acquisitions. Reports of continuing layoffs and employee frustration may weigh on sentiment, even though the reductions could eventually improve operating efficiency and offset acquisition-related costs. ServiceNow to Cut Up to 1,000 Jobs
• Negative Sentiment: Recent insider activity has been mixed but skewed toward selling, with nine sales versus two purchases over the past six months. Several senior executives sold shares, although CEO Bill McDermott was reported to have purchased shares. This is a secondary signal, but it may reinforce cautious sentiment.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $110.18 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The business's fifty day moving average price is $105.45 and its two-hundred day moving average price is $106.40. The stock has a market cap of $113.93 billion, a PE ratio of 68.86, a price-to-earnings-growth ratio of 2.04 and a beta of 0.96. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $196.40.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.04. The company had revenue of $3.99 billion during 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 firm posted $0.81 earnings per share. On average, analysts forecast that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on NOW. Royal Bank Of Canada restated an "outperform" rating and set a $130.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. Citizens Jmp reiterated a "market outperform" rating and issued a $157.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Jefferies Financial Group reiterated a "buy" rating and issued a $140.00 price objective (up from $135.00) on shares of ServiceNow in a research note on Thursday, July 23rd. UBS Group set a $248.00 price objective on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Capital One Financial upped their target price on shares of ServiceNow from $105.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $143.39.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the company's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 firm's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the sale, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 19,144 shares of company stock valued at $1,730,097. 0.34% of the stock is owned by insiders.

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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