Payne Capital Management LLC Invests $436,000 in ServiceNow, Inc. $NOW

Payne Capital Management LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,390 shares of the information technology services provider’s stock, valued at approximately $436,000.

Several other large investors also recently added to or reduced their stakes in NOW. Transamerica Financial Advisors LLC purchased a new position in ServiceNow during the second quarter worth about $182,000. Corient Private Wealth LP purchased a new stake in shares of ServiceNow in the 2nd quarter valued at about $119,279,000. Perennial Investment Advisors LLC bought a new stake in shares of ServiceNow during the 2nd quarter valued at about $220,000. Ausdal Financial Partners Inc. bought a new stake in shares of ServiceNow during the 2nd quarter valued at about $2,138,000. Finally, Bain Capital Venture Investors LLC purchased a new position in shares of ServiceNow during the second quarter worth about $113,656,737,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 1.0%

Shares of NOW opened at $125.68 on Thursday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The firm has a market cap of $129.95 billion, a price-to-earnings ratio of 78.55, a PEG ratio of 2.23 and a beta of 0.94. The firm has a 50 day moving average price of $110.48 and a 200-day moving average price of $106.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating 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 company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter last year, the firm earned $0.81 EPS. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. As a group, equities research analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction dated 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 owned 46,690 shares of the company’s stock, valued at approximately $5,864,264. The trade was a 3.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its AI ecosystem through a multiyear partnership with Tech Mahindra, which is intended to scale enterprise AI deployments on the ServiceNow platform. The agreement supports the company’s positioning as an “AI control tower” and could drive additional platform adoption. ServiceNow In Focus Following Tech Mahindra AI Deal
• Positive Sentiment: Pricefx announced an integration that brings AI-powered pricing and deal optimization into ServiceNow sales workflows, including negotiation guidance, product recommendations and sales-agent capabilities. Such integrations may increase the platform’s usefulness and strengthen its enterprise software ecosystem. Pricefx Announces Integration with ServiceNow
• Positive Sentiment: Recent commentary remains bullish on ServiceNow’s AI growth potential, while CoreX, an elite ServiceNow partner, launched AI Horizon to help enterprises adopt AI-native workflows on the company’s platform. CoreX Launches AI Horizon
• Neutral Sentiment: Bank of America’s higher price targets for software stocks suggest improving sentiment toward the sector, although broader market futures were weaker and the benefit to NOW may be limited. Bank of America Raises Software Price Targets
• Negative Sentiment: ServiceNow shares moved lower as investors took profits following an approximately 29% one-month rally. Cooling momentum indicators and technical resistance near $150 have increased near-term selling pressure. What’s Going On With ServiceNow Stock Wednesday?
• Negative Sentiment: Investors are also assessing fair value after the rally, including the impact of a separate employee stock offering. ServiceNow’s elevated valuation leaves the stock vulnerable if AI monetization fails to accelerate.
• Negative Sentiment: Broader software-sector volatility, leveraged trading and concerns that AI-built applications could eventually displace traditional SaaS platforms are adding risk. Datadog was judged to have an edge over NOW on growth and earnings momentum, another potential rotation headwind. Momentum and Leveraged Trading Keep Software Stocks Volatile

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NOW shares. Cantor Fitzgerald raised their target price on shares of ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Wells Fargo & Company reissued an “overweight” rating and issued a $175.00 price target (up from $160.00) on shares of ServiceNow in a research note on Wednesday, August 12th. KeyCorp reissued an “underweight” rating on shares of ServiceNow in a report on Tuesday, July 21st. UBS Group set a $248.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. Finally, Guggenheim upgraded shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Wednesday, July 1st. 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 two have issued a Sell rating to the company. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average 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.