ServiceNow, Inc. $NOW Shares Purchased by NEOS Investment Management LLC

Key Points

• NEOS Investment Management increased its ServiceNow stake by 14.8% in the second quarter, adding 22,185 shares to hold 171,772 shares valued at approximately $17.1 million. Institutional investors collectively own 87.18% of the stock.
• Analysts maintain a generally favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $144.24, although ratings range from “Strong Buy” to “Sell.”
• ServiceNow exceeded quarterly earnings and revenue estimates, with revenue rising 24% year over year, but recent insider selling and the stock’s elevated valuation could weigh on investor sentiment.

NEOS Investment Management LLC raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 171,772 shares of the information technology services provider's stock after acquiring an additional 22,185 shares during the quarter. NEOS Investment Management LLC's holdings in ServiceNow were worth $17,054,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CBIZ Investment Advisory Services LLC lifted its stake in shares of ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 135 shares during the period. Blueline Advisors LLC acquired a new position in ServiceNow in the fourth quarter valued at $25,000. Measured Wealth Private Client Group LLC increased its stake in ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. AlphaCentric Advisors LLC purchased a new position in ServiceNow during the fourth quarter worth about $25,000. Finally, Bank of Jackson Hole Trust lifted its position in ServiceNow by 534.6% during the fourth quarter. Bank of Jackson Hole Trust now owns 165 shares of the information technology services provider's stock worth $25,000 after buying an additional 139 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on NOW shares. JPMorgan Chase & Co. lifted their price target on ServiceNow from $145.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Needham & Company LLC reiterated a "buy" rating and set a $115.00 price objective on shares of ServiceNow in a report on Thursday, July 23rd. Wells Fargo & Company reissued an "overweight" rating and issued a $175.00 target price (up from $160.00) on shares of ServiceNow in a research report on Wednesday, August 12th. BMO Capital Markets boosted their target price on shares of ServiceNow from $115.00 to $118.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Finally, CLSA assumed coverage on shares of ServiceNow in a research report on Monday, July 20th. They set an "underperform" rating and a $72.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.24.

Key Stories Impacting ServiceNow

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?

ServiceNow Stock Performance

NYSE:NOW opened at $141.31 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $146.11 billion, a price-to-earnings ratio of 88.32, a PEG ratio of 2.65 and a beta of 0.97. The firm's fifty day simple moving average is $117.21 and its 200 day simple moving average is $107.95. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company's revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. As a group, equities research analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Paul Fipps sold 2,034 shares of the firm's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $147.87, for a total transaction of $300,767.58. Following the completion of the sale, the insider directly owned 18,305 shares in the company, valued at $2,706,760.35. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Chamberlain sold 2,700 shares of ServiceNow stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $135.50, for a total value of $365,850.00. Following the sale, the director directly owned 43,990 shares in the company, valued at approximately $5,960,645. The trade was a 5.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 14,081 shares of company stock worth $1,937,904. 0.34% of the stock is currently owned by company insiders.

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.

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