ServiceNow, Inc. $NOW Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 14.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 171,772 shares of the information technology services provider’s stock after purchasing an additional 22,185 shares during the period. NEOS Investment Management LLC’s holdings in ServiceNow were worth $17,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of ServiceNow in the 4th quarter worth $2,020,992,000. World Investment Advisors increased its stake in ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after purchasing an additional 38,583 shares in the last quarter. Moors & Cabot Inc. raised its holdings in ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after buying an additional 36,274 shares during the last quarter. Bank of Nova Scotia raised its holdings in ServiceNow by 53.3% during the first quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock worth $106,436,000 after buying an additional 353,749 shares during the last quarter. Finally, Huntington National Bank lifted its stake in shares of ServiceNow by 397.1% in the fourth quarter. Huntington National Bank now owns 544,257 shares of the information technology services provider’s stock valued at $83,375,000 after buying an additional 434,761 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow was selected as a “final trade” on CNBC’s Halftime Report, with the bullish case citing analyst support and the company’s opportunity to expand its AI offerings. Nvidia, ServiceNow, Spotify And A Financial Stock On CNBC’s Final Trades
• Positive Sentiment: ServiceNow gained alongside enterprise AI software peers as investor concerns that AI could weaken traditional seat-based software revenue eased. The broader sector rebound provided a favorable trading backdrop for NOW. Palantir Rallies 7% as PwC Alliance Counters Michael Burry Bear Case
• Positive Sentiment: Partner adoption is strengthening ServiceNow’s AI-platform narrative. Pricefx’s Deal Optimization App embeds AI pricing, negotiation, and recommendation tools into ServiceNow workflows, suggesting the platform is becoming an important distribution channel for enterprise AI applications. Is ServiceNow Quietly Becoming the Default AI Commerce Platform for Enterprise Partners?
• Neutral Sentiment: Analysts and investors remain selective within the software group. Although the sector has rebounded, commentary emphasizes that strong performance varies widely among companies, increasing scrutiny of ServiceNow’s valuation and growth durability. Software Stocks Are Back. 2 Winners, 2 Losers—and Salesforce
• Negative Sentiment: Reports of insider selling are weighing on sentiment and may be prompting investors to lock in gains after ServiceNow’s recent rally. Separate coverage also questioned whether the stock’s rapid advance has outpaced near-term fundamentals, making profit-taking a risk. ServiceNow Stock Price Down Following Insider Selling ServiceNow Just Rallied 28% in a Month: Take Profits, or Buy More?

Insiders Place Their Bets

In related news, insider Paul Fipps sold 2,034 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the sale, the insider owned 18,305 shares in the company, valued at approximately $2,706,760.35. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline Canney sold 7,847 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the sale, the insider directly owned 30,042 shares in the company, valued at approximately $4,145,796. The trade was a 20.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,081 shares of company stock worth $1,937,904 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup reaffirmed a “market outperform” rating on shares of ServiceNow in a research report on Thursday, July 23rd. TD Cowen reissued a “buy” rating and issued a $140.00 price objective on shares of ServiceNow in a research note on Monday, August 17th. BTIG Research reissued a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a research note on Wednesday, July 22nd. Robert W. Baird raised their target price on ServiceNow from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $140.00 target price (up from $130.00) on shares of ServiceNow in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.24.

ServiceNow Stock Down 2.9%

Shares of NYSE NOW opened at $141.31 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 stock has a market capitalization of $146.11 billion, a PE ratio of 88.32, a P/E/G ratio of 2.65 and a beta of 0.97. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $194.73. The business’s fifty day moving average price is $117.21 and its 200-day moving average price is $107.95.

ServiceNow (NYSE:NOW) last posted its 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 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 last year, the company earned $0.81 earnings per share. The company’s revenue was up 24.0% on a year-over-year basis. On average, equities research analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current year.

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.