Tandem Capital Management Corp ADV raised its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 171.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,905 shares of the information technology services provider's stock after buying an additional 8,145 shares during the period. Tandem Capital Management Corp ADV's holdings in ServiceNow were worth $1,281,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in NOW. Brighton Jones LLC increased its holdings in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after acquiring an additional 30 shares during the last quarter. Sivia Capital Partners LLC raised its stake in ServiceNow by 4.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock valued at $861,000 after acquiring an additional 34 shares during the period. United Bank lifted its holdings in ServiceNow by 15.5% during the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider's stock valued at $1,562,000 after purchasing an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in ServiceNow by 2.2% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock valued at $1,976,000 after purchasing an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its position in ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock worth $931,000 after purchasing an additional 609 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.
ServiceNow Trading Up 4.6%
Shares of NOW opened at $144.77 on Friday. The firm has a market cap of $149.69 billion, a price-to-earnings ratio of 90.48, a PEG ratio of 2.44 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. The business's fifty day moving average is $112.33 and its 200-day moving average is $106.60.
ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.ServiceNow's quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS. Equities analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Paul Edward Chamberlain sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the completion of the sale, the director owned 46,690 shares of the company's stock, valued at $5,864,264. This trade represents a 3.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several research firms have commented on NOW. BTIG Research reiterated a "buy" rating and issued a $150.00 price objective on shares of ServiceNow in a report on Wednesday, July 22nd. Wells Fargo & Company restated an "overweight" rating and set a $175.00 target price (up from $160.00) on shares of ServiceNow in a research note on Wednesday, August 12th. Truist Financial lifted their target price on shares of ServiceNow from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. DA Davidson set a $170.00 price target on shares of ServiceNow and gave the company a "buy" rating in a research note on Monday, July 20th. Finally, Sanford C. Bernstein reissued an "outperform" rating and issued a $248.00 price target (up from $236.00) on shares of ServiceNow in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average price target of $144.24.
Check Out Our Latest Research Report on NOW
More ServiceNow News
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: ServiceNow’s recent rally was helped by Salesforce’s strong quarterly results and upbeat outlook, which eased concerns about a “SaaS-pocalypse.” Investors are increasingly viewing AI as an enhancement to existing enterprise workflows rather than a threat to core software platforms. Why ServiceNow Rallied Today
- Positive Sentiment: Analyst and market commentary highlights ServiceNow’s agentic-AI momentum, including more than $1 billion in AI annual contract value, broader enterprise adoption and potential new monetization opportunities. The company’s AI Control Tower and expanding customer spending are viewed as additional growth drivers. Agentic AI Adoption Boosts NOW's Growth Prospects
- Positive Sentiment: Wall Street remains broadly constructive, with ServiceNow receiving Buy or Moderate Buy consensus ratings. The stock has also approached technical buy points, while some analysts have issued targets as high as $150 or substantially higher. Is It Worth Investing in ServiceNow Based on Wall Street's Bullish Views?
- Neutral Sentiment: ServiceNow has risen about 70% from its yearly low and remains below its prior peak, creating debate over whether the move represents a new buying opportunity or a temporary rebound. Analysts’ median price target of approximately $134 is below the current trading level, limiting near-term upside based on that measure. Is It a Golden Opportunity to Buy ServiceNow Stock?
- Negative Sentiment: ServiceNow warned of three maximum-severity vulnerabilities that could allow unauthenticated attackers to execute code or access SQL systems. Although patches and mitigations may limit the financial impact, the disclosures create reputational, customer-retention and execution risks. Three CVSS 10.0 ServiceNow Flaws
- Negative Sentiment: At an elevated earnings multiple, the stock is vulnerable to profit-taking if AI growth slows. Jim Cramer recommended selling half a position and retaining the remainder, underscoring the sharp rally and the possibility that some optimism is already reflected in the shares. Jim Cramer’s ServiceNow Advice
ServiceNow Profile
(
Free Report)
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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Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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