ServiceNow, Inc. $NOW Shares Purchased by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its ServiceNow stake by 10.8% in the second quarter, adding 14,641 shares to hold 150,324 shares worth approximately $14.9 million. Institutional investors collectively own 87.18% of the company.
• ServiceNow reported quarterly revenue of $3.99 billion, up 24% year over year, and earnings of $0.90 per share, exceeding analyst expectations. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $145.71.
• The stock trades at a relatively elevated valuation, with a P/E ratio of 82.81, while insiders have sold 14,081 shares worth about $1.94 million over the past 90 days. Growth expectations are supported by accelerating enterprise AI adoption, but the shares remain sensitive to slower spending or weaker AI monetization.

NewEdge Advisors LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 10.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,324 shares of the information technology services provider's stock after buying an additional 14,641 shares during the quarter. NewEdge Advisors LLC's holdings in ServiceNow were worth $14,924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of ServiceNow during the 4th quarter worth $2,020,992,000. Moors & Cabot Inc. increased its holdings in ServiceNow by 387.7% in the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider's stock valued at $6,990,000 after purchasing an additional 36,274 shares during the last quarter. Bank of Nova Scotia increased its holdings in ServiceNow by 53.3% in the 1st quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider's stock valued at $106,436,000 after purchasing an additional 353,749 shares during the last quarter. Huntington National Bank raised its position in ServiceNow by 397.1% in the fourth quarter. Huntington National Bank now owns 544,257 shares of the information technology services provider's stock valued at $83,375,000 after purchasing an additional 434,761 shares during the period. Finally, Orange Investment Advisors Inc. lifted its stake in ServiceNow by 449.0% during the fourth quarter. Orange Investment Advisors Inc. now owns 31,694 shares of the information technology services provider's stock worth $4,855,000 after purchasing an additional 25,921 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Needham raises ServiceNow target to $155: Needham & Company upgraded NOW to “buy” and increased its price target from $115 to $155, implying approximately 17% upside from the referenced share price. The move was part of a broader group of analyst target increases and is the clearest near-term catalyst for the stock. ServiceNow analyst forecasts
• Positive Sentiment: Agentic AI adoption is accelerating: ServiceNow is described as a leader in enterprise agentic AI, with production deployments increasing ninefold over nine months. Analysts expect AI-related revenue to grow substantially through 2030, supporting the long-term growth narrative. ServiceNow agentic AI analysis
• Positive Sentiment: Expanded AI visibility and ecosystem activity: ServiceNow will partner with Fortune on an October AI summit focused on commercializing AI, while RoboMQ launched an identity-governance application on the ServiceNow Store. These developments reinforce ServiceNow’s positioning as an enterprise workflow and AI platform, although they are unlikely to materially affect near-term revenue. Fortune AIQ Summit partnership
• Neutral Sentiment: Coverage on AI and cybersecurity highlights ServiceNow’s strategic relevance as businesses seek integrated automation, security and governance tools. However, the reports provide limited new financial guidance. AI and cybersecurity reshaping ServiceNow
• Negative Sentiment: Despite its growth prospects, AI revenue remains a relatively small portion of ServiceNow’s overall business, and the stock’s elevated valuation leaves it sensitive to any slowdown in enterprise spending or AI monetization.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NOW. Robert W. Baird lifted their price objective on ServiceNow from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Guggenheim raised shares of ServiceNow from a "neutral" rating to a "buy" rating and set a $125.00 price objective for the company in a research note on Wednesday, July 1st. Truist Financial lifted their price objective on shares of ServiceNow from $120.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Wells Fargo & Company reiterated an "overweight" rating and set a $175.00 target price (up from $160.00) on shares of ServiceNow in a report on Wednesday, August 12th. Finally, CLSA started coverage on shares of ServiceNow in a research note on Monday, July 20th. They issued an "underperform" rating and a $72.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average target price of $145.71.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 7,847 shares of ServiceNow stock in a transaction dated 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 sale, the insider owned 30,042 shares of the company's stock, valued at $4,145,796. The trade was a 20.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 2,034 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the completion of the transaction, the insider owned 18,305 shares of the company's stock, valued at $2,706,760.35. The trade was a 10.00% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 14,081 shares of company stock worth $1,937,904. 0.34% of the stock is currently owned by insiders.

ServiceNow Stock Up 1.0%

NOW stock opened at $132.49 on Friday. The stock has a market cap of $136.99 billion, a P/E ratio of 82.81, a PEG ratio of 2.41 and a beta of 0.97. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73. The company's 50 day moving average is $120.27 and its two-hundred day moving average is $108.91.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 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 business had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.93 billion. During the same period in the previous year, the company posted $0.81 EPS. The company's quarterly revenue was up 24.0% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 2.22 earnings per share for the current fiscal year.

ServiceNow Company Profile

ServiceNow, Inc is a cloud-based enterprise software company that provides digital workflow and automation solutions. Its Now Platform enables organizations to manage and connect business processes across information technology, customer service, human resources, finance, legal operations and other departments.

The company's products and services include IT service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance management, strategic portfolio management and application development tools.

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