Pure Financial Advisors LLC Purchases New Stake in ServiceNow, Inc. $NOW

Pure Financial Advisors LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 8,620 shares of the information technology services provider’s stock, valued at approximately $856,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in ServiceNow in the second quarter valued at about $9,536,615,000. State Street Corp boosted its stake in shares of ServiceNow by 406.6% during the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after acquiring an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after acquiring an additional 25,517,218 shares during the period. Geode Capital Management LLC grew its holdings in shares of ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after acquiring an additional 18,854,775 shares during the period. Finally, Morgan Stanley increased its stake in ServiceNow by 335.6% in the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after purchasing an additional 17,514,679 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the company’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 transaction, the director owned 46,690 shares of the company’s stock, valued at approximately $5,864,264. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its AI ecosystem through a multiyear partnership with Tech Mahindra, which is intended to scale enterprise AI deployments on the ServiceNow platform. The agreement supports the company’s positioning as an “AI control tower” and could drive additional platform adoption. ServiceNow In Focus Following Tech Mahindra AI Deal
• Positive Sentiment: Pricefx announced an integration that brings AI-powered pricing and deal optimization into ServiceNow sales workflows, including negotiation guidance, product recommendations and sales-agent capabilities. Such integrations may increase the platform’s usefulness and strengthen its enterprise software ecosystem. Pricefx Announces Integration with ServiceNow
• Positive Sentiment: Recent commentary remains bullish on ServiceNow’s AI growth potential, while CoreX, an elite ServiceNow partner, launched AI Horizon to help enterprises adopt AI-native workflows on the company’s platform. CoreX Launches AI Horizon
• Neutral Sentiment: Bank of America’s higher price targets for software stocks suggest improving sentiment toward the sector, although broader market futures were weaker and the benefit to NOW may be limited. Bank of America Raises Software Price Targets
• Negative Sentiment: ServiceNow shares moved lower as investors took profits following an approximately 29% one-month rally. Cooling momentum indicators and technical resistance near $150 have increased near-term selling pressure. What’s Going On With ServiceNow Stock Wednesday?
• Negative Sentiment: Investors are also assessing fair value after the rally, including the impact of a separate employee stock offering. ServiceNow’s elevated valuation leaves the stock vulnerable if AI monetization fails to accelerate.
• Negative Sentiment: Broader software-sector volatility, leveraged trading and concerns that AI-built applications could eventually displace traditional SaaS platforms are adding risk. Datadog was judged to have an edge over NOW on growth and earnings momentum, another potential rotation headwind. Momentum and Leveraged Trading Keep Software Stocks Volatile

ServiceNow Stock Down 1.0%

NOW opened at $125.68 on Thursday. The firm has a market cap of $129.95 billion, a P/E ratio of 78.55, a PEG ratio of 2.23 and a beta of 0.94. The business’s fifty day simple moving average is $110.48 and its 200 day simple moving average is $106.06. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the previous year, the company posted $0.81 EPS. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Analysts Set New Price Targets

NOW has been the topic of a number of research analyst reports. Sanford C. Bernstein reiterated an “outperform” rating and set a $248.00 target price (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. Citic Securities cut their price target on ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. TD Cowen reiterated a “buy” rating and issued a $140.00 price objective on shares of ServiceNow in a research report on Monday, August 17th. UBS Group set a $248.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, Truist Financial raised their target price on shares of ServiceNow from $120.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.24.

ServiceNow 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.