Harber Asset Management LLC Invests $5.13 Million in ServiceNow, Inc. $NOW

Harber Asset Management LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 51,674 shares of the information technology services provider’s stock, valued at approximately $5,130,000. ServiceNow accounts for about 3.1% of Harber Asset Management LLC’s holdings, making the stock its 10th largest position.

Other large investors also recently modified their holdings of the company. Florida Financial Advisors LLC grew its holdings in ServiceNow by 5.4% during the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after acquiring an additional 14 shares in the last quarter. Clark Capital Management Group Inc. grew its stake in ServiceNow by 3.6% in the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock worth $473,000 after purchasing an additional 18 shares in the last quarter. American Trust raised its stake in ServiceNow by 1.8% during the third quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock valued at $947,000 after buying an additional 18 shares in the last quarter. Morse Asset Management Inc lifted its holdings in ServiceNow by 0.5% during the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock worth $3,586,000 after buying an additional 19 shares during the last quarter. Finally, CYBER HORNET ETFs LLC grew its position in shares of ServiceNow by 3.7% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock worth $522,000 after acquiring an additional 20 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 46,690 shares in the company, valued at $5,864,264. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $128.73 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $133.11 billion, a PE ratio of 80.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. The stock has a fifty day moving average of $108.88 and a 200-day moving average of $105.74. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $194.73.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. ServiceNow’s revenue for the quarter was up 24.0% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Analysts Set New Price Targets

NOW has been the topic of several research analyst reports. Citigroup restated a “market outperform” rating on shares of ServiceNow in a research note on Thursday, July 23rd. UBS Group set a $248.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. Truist Financial raised their target price on shares of ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Evercore reaffirmed an “outperform” rating and set a $160.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Argus reduced their price objective on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, April 24th. One investment 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $144.24.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production. The “Client Zero” approach combines ServiceNow’s AI platform with Tech Mahindra’s industry expertise, potentially increasing adoption, automation revenue and measurable customer outcomes. Tech Mahindra and ServiceNow Expand Partnership to Deliver Production-Ready Enterprise AI at Scale
• Positive Sentiment: Bank of America raised its ServiceNow price target to $150, citing the company’s positioning to monetize artificial intelligence as concerns about AI disruption to traditional software fade. The move contributed to broader bullish sentiment across software stocks. Bank of America Increases ServiceNow Price Target to $150
• Positive Sentiment: ServiceNow has gained substantially since its latest earnings report, which beat estimates on both adjusted earnings and revenue. Quarterly revenue increased 24% year over year, reinforcing the view that the company remains a leading enterprise AI and workflow platform. ServiceNow Up 41.1% Since Last Earnings Report
• Positive Sentiment: ServiceNow was also selected as a CNBC “Final Trade,” providing additional visibility and signaling continued support from some professional investors. Final Trades: ServiceNow, Vertex and Uber
• Neutral Sentiment: Despite the favorable company news, midday AI buying has been concentrated in government-facing companies such as Palantir and BigBear.ai rather than enterprise software, limiting near-term upside for NOW. How Are Traders Picking the Software Winners?
• Negative Sentiment: Investors continue to monitor competitive threats from newer AI-native automation platforms, including Serval, as well as ServiceNow’s premium valuation. Those concerns may encourage profit-taking after the stock’s sharp post-earnings advance. Serval Wants To Replace ServiceNow With AI That Builds Enterprise Automation

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.