Formula Growth Ltd. Makes New Investment in ServiceNow, Inc. $NOW

Formula Growth Ltd. acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,000 shares of the information technology services provider’s stock, valued at approximately $1,390,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in shares of ServiceNow during the 2nd quarter worth about $38,345,000. MASTERINVEST Kapitalanlage GmbH purchased a new stake in ServiceNow during the 2nd quarter worth approximately $2,936,000. PenderFund Capital Management Ltd. purchased a new stake in ServiceNow during the 2nd quarter worth approximately $367,000. One68 Global Capital LLC acquired a new position in shares of ServiceNow during the second quarter valued at approximately $298,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of ServiceNow in the second quarter valued at approximately $456,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

NOW stock opened at $138.50 on Friday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $194.73. 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 firm has a market capitalization of $143.20 billion, a PE ratio of 86.56, a price-to-earnings-growth ratio of 2.21 and a beta of 0.94. The business has a 50 day simple moving average of $111.34 and a 200-day simple moving average of $106.33.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 16.45% and a net margin of 11.34%.The firm’s revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. Equities research analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Insider Activity

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total value of $188,400.00. Following the completion of the sale, the director directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by company insiders.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Salesforce earnings lifted the sector. Salesforce’s strong quarterly results, raised guidance and “Claudeforce” AI announcement eased fears of a broad “SaaS-pocalypse.” The read-through suggests businesses are adding AI tools to existing software platforms rather than replacing them, benefiting ServiceNow. Why ServiceNow Rallied Today
• Positive Sentiment: Enterprise AI momentum remains a key catalyst. Reports highlighted ServiceNow’s more than $1 billion in AI annual contract value, expanding customer adoption and the potential for its AI Control Tower and agentic-AI products to create additional revenue streams. Agentic AI Adoption Boosts NOW’s Growth Prospects Against MSFT & CRM
• Positive Sentiment: Technical and analyst sentiment improved. ServiceNow cleared an early buy point as disruption fears faded, while coverage cited positive price-target actions and a potential sector re-rating. ServiceNow, IBD Stock Of The Day
• Positive Sentiment: Platform integrations support monetization. Pricefx announced an integration that brings AI-powered deal optimization and sales guidance to ServiceNow workflows, reinforcing the platform’s ecosystem and enterprise-use case. Pricefx Announces Integration with ServiceNow

Analysts Set New Price Targets

NOW has been the topic of a number of research analyst reports. TD Cowen reaffirmed a “buy” rating and issued a $140.00 price target on shares of ServiceNow in a research note on Monday, August 17th. Cantor Fitzgerald increased their price objective on ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Evercore restated an “outperform” rating and issued a $160.00 price objective on shares of ServiceNow in a report on Thursday, July 23rd. DA Davidson set a $170.00 target price on shares of ServiceNow and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, BMO Capital Markets upped their target price on shares of ServiceNow from $115.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. One research 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 given a Sell rating to the company. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $144.24.

About ServiceNow

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.