1,167,341 Shares in ServiceNow, Inc. $NOW Bought by Freestone Grove Partners LP

Freestone Grove Partners LP purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the second quarter, HoldingsChannel reports. The institutional investor purchased 1,167,341 shares of the information technology services provider’s stock, valued at approximately $115,894,000. ServiceNow comprises about 0.7% of Freestone Grove Partners LP’s holdings, making the stock its 17th biggest holding.

Several other large investors also recently bought and sold shares of the stock. Millstone Evans Group LLC increased its position in shares of ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in shares of ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Blueline Advisors LLC acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $25,000. Measured Wealth Private Client Group LLC grew its stake in ServiceNow by 560.0% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after buying an additional 140 shares during the last quarter. Finally, Wealth Watch Advisors INC grew its stake in ServiceNow by 432.3% during the 4th quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after buying an additional 134 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total value of $188,400.00. Following the completion of the sale, the director owned 46,690 shares in the company, valued at approximately $5,864,264. This trade represents a 3.11% decrease in their position. The transaction 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. Insiders own 0.34% of the company’s stock.

Key Headlines Impacting ServiceNow

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

Wall Street Analyst Weigh In

Several research firms have commented on NOW. BTIG Research reaffirmed a “buy” rating and set a $150.00 price target on shares of ServiceNow in a research report on Wednesday, July 22nd. Citizens Jmp reissued a “market outperform” rating and issued a $157.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Weiss Ratings upgraded shares of ServiceNow from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 20th. Citigroup reaffirmed a “market outperform” rating on shares of ServiceNow in a report on Thursday, July 23rd. Finally, DA Davidson set a $170.00 price target on shares of ServiceNow and gave the stock a “buy” rating in a research note on Monday, July 20th. One equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.24.

ServiceNow Trading Down 1.0%

NYSE:NOW opened at $125.68 on Thursday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $194.73. 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 stock’s 50 day simple moving average is $110.48 and its 200-day simple moving average is $106.06. 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.

ServiceNow (NYSE:NOW) last issued its quarterly 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. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period last year, the company earned $0.81 earnings per share. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. Equities analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current year.

ServiceNow Company 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.