ServiceNow, Inc. $NOW Stock Sold by MN Wealth Advisors LLC

Key Points

• MN Wealth Advisors cut its ServiceNow stake by 64.3% in the third quarter, selling 7,822 shares and retaining 4,346 shares valued at approximately $582,000. Institutional investors still own 87.18% of the company.
• Analysts remain broadly bullish, with several firms raising price targets to between $165 and $176; the stock has a consensus “Moderate Buy” rating and a $155.10 target price. ServiceNow’s AI products, defense business and Nvidia partnership are viewed as potential growth drivers.
• ServiceNow shares opened at $159.29, while the company trades at a high valuation of roughly 99.6 times earnings. Investors are focused on upcoming quarterly results and metrics such as subscription growth, remaining performance obligations and margins, creating sensitivity to any earnings or guidance shortfall.

MN Wealth Advisors LLC trimmed its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 64.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,346 shares of the information technology services provider's stock after selling 7,822 shares during the quarter. MN Wealth Advisors LLC's holdings in ServiceNow were worth $582,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Brucke Financial Inc. acquired a new stake in shares of ServiceNow in the 3rd quarter valued at approximately $246,000. Signaturefd LLC grew its stake in shares of ServiceNow by 16.0% in the third quarter. Signaturefd LLC now owns 21,713 shares of the information technology services provider's stock valued at $2,910,000 after buying an additional 2,999 shares in the last quarter. Simplicity Wealth LLC grew its stake in shares of ServiceNow by 35.8% in the third quarter. Simplicity Wealth LLC now owns 14,049 shares of the information technology services provider's stock valued at $1,883,000 after buying an additional 3,705 shares in the last quarter. Sowell Financial Services LLC increased its holdings in ServiceNow by 4.4% during the third quarter. Sowell Financial Services LLC now owns 5,183 shares of the information technology services provider's stock worth $695,000 after buying an additional 220 shares during the last quarter. Finally, One Wealth Capital Management LLC acquired a new position in ServiceNow during the third quarter worth $795,000. 87.18% of the stock is currently owned by institutional investors.

Insider Transactions at ServiceNow

In other news, Director Paul Chamberlain sold 2,700 shares of the firm's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of the sale, the director owned 43,990 shares in the company, valued at approximately $5,960,645. This trade represents a 5.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jacqueline Canney sold 7,847 shares of ServiceNow stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the sale, the insider directly owned 30,042 shares of the company's stock, 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. In the last 90 days, insiders sold 14,081 shares of company stock worth $1,937,904. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NOW shares. TD Cowen upped their price target on shares of ServiceNow from $140.00 to $165.00 and gave the stock a "buy" rating in a research report on Thursday, October 15th. Evercore reissued an "outperform" rating on shares of ServiceNow in a research report on Tuesday, October 13th. Piper Sandler lifted their price objective on shares of ServiceNow from $140.00 to $175.00 and gave the company an "overweight" rating in a research report on Friday, October 16th. Guggenheim restated a "buy" rating and set a $175.00 price objective (up from $125.00) on shares of ServiceNow in a research note on Friday. Finally, Royal Bank Of Canada upped their target price on shares of ServiceNow from $130.00 to $176.00 and gave the company an "outperform" rating in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.10.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target to $180 ahead of ServiceNow’s third-quarter results, citing continued demand for AI-related products and services. The revised target signals confidence that AI adoption can support additional growth. Bank of America Boosts ServiceNow Forecast Ahead of Earnings
• Positive Sentiment: ServiceNow’s defense and national-security business is being positioned as a major growth driver over the next year. Management highlighted demand for workflow automation, AI, cybersecurity, logistics modernization and digital transformation among military and government agencies. ServiceNow Defense Business Interview
• Positive Sentiment: The company and Nvidia launched “Arc,” an AI agent designed to plan tasks and verify its work. The product reinforces ServiceNow’s strategy of embedding governed, enterprise-grade AI into its workflow platform, potentially supporting product adoption and customer spending. ServiceNow and Nvidia Launch Arc
• Positive Sentiment: ServiceNow was selected as a preferred idea on CNBC’s “Final Trades,” while Polen Capital highlighted the company’s AI opportunity and revenue-growth prospects. These endorsements add to favorable market sentiment, although they are not substitutes for operating results. ServiceNow on CNBC’s Final Trades
• Neutral Sentiment: Investors are focused on ServiceNow’s upcoming third-quarter earnings, with analysts examining subscription growth, current remaining performance obligations, margins and other operating metrics beyond revenue and EPS. Results and guidance could determine whether the recent rally continues. ServiceNow Q3 Performance Estimates
• Negative Sentiment: Comparisons with TD SYNNEX frame ServiceNow as a less obvious value investment. NOW’s premium valuation means the stock remains sensitive to an earnings or guidance disappointment, despite its strong growth prospects. SNX vs. NOW Value Comparison

ServiceNow Trading Up 1.5%

Shares of ServiceNow stock opened at $159.29 on Friday. 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 business has a fifty day simple moving average of $137.87 and a two-hundred day simple moving average of $115.39. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $192.97. The company has a market capitalization of $164.71 billion, a price-to-earnings ratio of 99.56, a P/E/G ratio of 2.92 and a beta of 0.99.

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

ServiceNow Company Profile

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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