ServiceNow, Inc. $NOW Shares Newly Purchased by Royal Fund Management LLC

Royal Fund Management LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the third quarter, Holdings Channel.com reports. The firm purchased 15,627 shares of the information technology services provider’s stock, valued at approximately $2,094,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cornerstone Financial Management LLC boosted its holdings in shares of ServiceNow by 72.8% in the 2nd quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 107 shares in the last quarter. CrossGen Wealth LLC purchased a new stake in shares of ServiceNow during the first quarter worth about $29,000. Caitong International Asset Management Co. Ltd increased its stake in shares of ServiceNow by 4,157.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 298 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 291 shares during the period. Marquette Asset Management LLC increased its position in shares of ServiceNow by 75.0% during the second quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 129 shares during the period. Finally, Kilter Group LLC bought a new position in shares of ServiceNow in the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NOW shares. Weiss Ratings upgraded shares of ServiceNow from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Argus upped their price objective on ServiceNow from $134.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, October 7th. Citigroup restated a “buy” rating and set a $170.00 target price (up from $154.00) on shares of ServiceNow in a research note on Wednesday, October 14th. Stifel Nicolaus set a $160.00 target price on shares of ServiceNow and gave the stock a “buy” rating in a report on Tuesday, October 6th. Finally, UBS Group set a $165.00 price target on ServiceNow in a report on Monday. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.10.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target to $180 ahead of ServiceNow’s third-quarter results, citing continued demand for AI-related products and services. The revised target signals confidence that AI adoption can support additional growth. Bank of America Boosts ServiceNow Forecast Ahead of Earnings
• Positive Sentiment: ServiceNow’s defense and national-security business is being positioned as a major growth driver over the next year. Management highlighted demand for workflow automation, AI, cybersecurity, logistics modernization and digital transformation among military and government agencies. ServiceNow Defense Business Interview
• Positive Sentiment: The company and Nvidia launched “Arc,” an AI agent designed to plan tasks and verify its work. The product reinforces ServiceNow’s strategy of embedding governed, enterprise-grade AI into its workflow platform, potentially supporting product adoption and customer spending. ServiceNow and Nvidia Launch Arc
• Positive Sentiment: ServiceNow was selected as a preferred idea on CNBC’s “Final Trades,” while Polen Capital highlighted the company’s AI opportunity and revenue-growth prospects. These endorsements add to favorable market sentiment, although they are not substitutes for operating results. ServiceNow on CNBC’s Final Trades
• Neutral Sentiment: Investors are focused on ServiceNow’s upcoming third-quarter earnings, with analysts examining subscription growth, current remaining performance obligations, margins and other operating metrics beyond revenue and EPS. Results and guidance could determine whether the recent rally continues. ServiceNow Q3 Performance Estimates
• Negative Sentiment: Comparisons with TD SYNNEX frame ServiceNow as a less obvious value investment. NOW’s premium valuation means the stock remains sensitive to an earnings or guidance disappointment, despite its strong growth prospects. SNX vs. NOW Value Comparison

ServiceNow Price Performance

Shares of NYSE:NOW traded up $2.29 during midday trading on Friday, reaching $159.29. 11,079,096 shares of the company were exchanged, compared to its average volume of 11,102,899. The stock has a market cap of $164.71 billion, a PE ratio of 99.56, a price-to-earnings-growth ratio of 2.88 and a beta of 0.99. The business’s fifty day moving average is $137.87 and its two-hundred day moving average is $115.39. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $192.97. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. ServiceNow’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. As a group, analysts predict that ServiceNow, Inc. will post 2.22 earnings per share for the current year.

Insider Activity

In other news, insider Paul Fipps sold 2,034 shares of ServiceNow stock in a transaction dated 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 directly owned 18,305 shares of the company’s stock, valued at approximately $2,706,760.35. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Chamberlain sold 2,700 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $135.50, for a total value of $365,850.00. Following the completion of the sale, the director owned 43,990 shares in the company, valued at $5,960,645. This represents a 5.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,081 shares of company stock worth $1,937,904 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

About ServiceNow

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.