ServiceNow, Inc. $NOW Shares Newly Acquired by Triton Wealth Management PLLC

Triton Wealth Management PLLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the third quarter, HoldingsChannel.com reports. The fund purchased 5,458 shares of the information technology services provider’s stock, valued at approximately $731,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in ServiceNow in the 2nd quarter valued at about $9,536,615,000. State Street Corp raised its position in shares of ServiceNow by 2.0% in the 2nd quarter. State Street Corp now owns 49,038,218 shares of the information technology services provider’s stock valued at $4,868,514,000 after buying an additional 979,726 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of ServiceNow by 16.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,638,071 shares of the information technology services provider’s stock valued at $1,651,828,000 after buying an additional 2,362,606 shares in the last quarter. Amundi raised its position in shares of ServiceNow by 60.9% in the 1st quarter. Amundi now owns 11,479,098 shares of the information technology services provider’s stock valued at $1,200,140,000 after buying an additional 4,346,722 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of ServiceNow by 6.5% during the 1st quarter. Bank of New York Mellon Corp now owns 8,526,931 shares of the information technology services provider’s stock worth $891,491,000 after acquiring an additional 518,263 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 3.3%

NOW stock opened at $99.35 on Wednesday. The stock has a market capitalization of $103.13 billion, a P/E ratio of 71.48, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.42. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $175.00. The firm has a 50-day moving average price of $134.49 and a 200-day moving average price of $114.55.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.09 billion. ServiceNow had a net margin of 9.36% and a return on equity of 15.17%. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.82 earnings per share. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 2.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. Benchmark reiterated a “buy” rating on shares of ServiceNow in a research report on Friday, July 17th. Barclays set a $152.00 price objective on shares of ServiceNow and gave the company an “overweight” rating in a research note on Thursday, October 29th. Yorkville Ives assumed coverage on shares of ServiceNow in a research report on Monday, October 5th. They set an “outperform” rating and a $160.00 price objective for the company. Royal Bank Of Canada set a $165.00 target price on ServiceNow and gave the stock an “outperform” rating in a research note on Thursday, October 29th. Finally, Evercore reaffirmed an “outperform” rating on shares of ServiceNow in a report on Tuesday, October 13th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $154.50.

Insider Buying and Selling at ServiceNow

In other 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 completion of the transaction, the insider directly owned 18,305 shares in the company, valued at approximately $2,706,760.35. This represents a 10.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 1,289 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $101.70, for a total value of $131,091.30. Following the completion of the transaction, the insider owned 30,042 shares of the company’s stock, valued at $3,055,271.40. The trade was a 4.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 15,370 shares of company stock worth $2,068,995 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Kyndryl and ServiceNow launched a jointly developed autonomous-operations offering on the ServiceNow Store. The AI-powered product is designed to improve productivity and automate IT issue resolution, supporting the case for ServiceNow’s AI opportunity. Kyndryl expands partnership with ServiceNow
• Positive Sentiment: Broward County, Florida, has gone live with ServiceNow’s IT Service Management and Workflow Data Fabric, providing a concrete public-sector deployment that may help demonstrate customer adoption of its workflow platform. Broward County selects ServiceNow
• Neutral Sentiment: Institutional ownership reports were mixed: 71 West Capital Partners increased its stake, while Alps Advisors reduced its position. These filings reflect differing investor views and may have limited near-term significance. 71 West Capital Partners increases stake
• Negative Sentiment: Shares weakened as Anthropic introduced new Claude tools, renewing fears that AI products could intensify competition or erode demand for enterprise software. The concern is part of a broader slide in software stocks. ServiceNow stock drops amid Anthropic’s new AI tools
• Negative Sentiment: Reports describe a steep recent decline, with investors still reacting to the October quarterly results: revenue exceeded estimates and grew year over year, but EPS came in slightly below consensus. A Pomerantz law firm investigation into potential investor claims adds another source of uncertainty, although an investigation is not a finding of wrongdoing. Pomerantz investigation notice

ServiceNow Profile

ServiceNow, Inc. provides cloud-based software that helps organizations manage digital workflows and automate business processes. Founded in 2004 by Fred Luddy, the company began with a focus on IT service management and has expanded its platform to support a range of enterprise operations. Its products include tools for IT service and operations management, customer service, human resources, security, and application development. ServiceNow also offers artificial intelligence capabilities, including tools designed to help organizations automate tasks and find information across workflows.