West Family Investments Inc. Takes $417,000 Position in ServiceNow, Inc. $NOW

West Family Investments Inc. acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 4,202 shares of the information technology services provider’s stock, valued at approximately $417,000.

A number of other large investors have also recently made changes to their positions in the company. Wealth Watch Advisors INC purchased a new position in ServiceNow in the third quarter worth approximately $29,000. Kelleher Financial Advisors purchased a new stake in shares of ServiceNow in the 3rd quarter valued at approximately $50,000. Pin Oak Investment Advisors Inc. increased its position in shares of ServiceNow by 20.7% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 23 shares during the last quarter. Jupiter Wealth Management LLC acquired a new stake in shares of ServiceNow in the 2nd quarter valued at $154,000. Finally, CBIZ Investment Advisory Services LLC raised its holdings in shares of ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Trading Up 2.0%

NYSE NOW opened at $129.73 on Friday. The firm’s fifty day moving average price is $108.36 and its 200 day moving average price is $105.58. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. 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 company has a market capitalization of $134.14 billion, a price-to-earnings ratio of 81.08, a price-to-earnings-growth ratio of 2.24 and a beta of 0.94.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.93 billion. During the same period in the previous year, the company earned $0.81 earnings per share. ServiceNow’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, sell-side analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal 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 directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.34% of the company’s stock.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target to $150 from $130 and maintained a Buy rating. The firm said ServiceNow is among the software companies best positioned to monetize AI, helping support a broader software-sector rally. ServiceNow, Adobe, Workday stocks get BofA PT boost
• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production-scale deployments. The agreement could increase adoption of ServiceNow’s AI and automation tools and reinforce its positioning as an enterprise “AI control tower.” Tech Mahindra and ServiceNow Expand Partnership
• Positive Sentiment: Several market commentaries described NOW as an AI beneficiary, citing its recurring-revenue model, enterprise workflow position, and potential for continued earnings growth. Some analysts see further upside if ServiceNow delivers a strong third quarter. ServiceNow: A Clear AI Winner
• Neutral Sentiment: Television commentators included ServiceNow among their “final trades,” while broader coverage characterized the recent move as part of a rebound in beaten-down software stocks as fears of AI-driven disruption ease. CNBC Final Trades
• Negative Sentiment: Competitive and valuation risks remain. A Forbes article highlighted an AI startup, Serval, that aims to challenge ServiceNow in enterprise automation, while the stock’s elevated valuation leaves it sensitive to slower growth or disappointing AI monetization. Serval Wants To Replace ServiceNow
• Negative Sentiment: Separate coverage reported trading pressure following insider selling, which may raise short-term concerns about executive confidence, although TD Cowen reiterated its Buy rating. ServiceNow Trading Down Following Insider Selling

Analyst Ratings Changes

A number of brokerages recently commented on NOW. Benchmark reiterated a “buy” rating on shares of ServiceNow in a research note on Friday, July 17th. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a research note on Monday, August 3rd. Truist Financial lifted their price target on ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $144.24.

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.