Robinhood Asset Management LLC Invests $472,000 in ServiceNow, Inc. $NOW

Robinhood Asset Management LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the second quarter, HoldingsChannel reports. The fund purchased 4,755 shares of the information technology services provider’s stock, valued at approximately $472,000.

Other hedge funds have also recently bought and sold shares of the company. Wealth Watch Advisors INC purchased a new position in ServiceNow during the 3rd quarter valued at about $29,000. Kelleher Financial Advisors acquired a new stake in shares of ServiceNow in the third quarter valued at approximately $50,000. Pin Oak Investment Advisors Inc. increased its stake in shares of ServiceNow by 20.7% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock worth $123,000 after purchasing an additional 23 shares in the last quarter. Jupiter Wealth Management LLC acquired a new position in shares of ServiceNow during the 2nd quarter worth approximately $154,000. Finally, CBIZ Investment Advisory Services LLC lifted its stake in 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 buying an additional 135 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total value of $188,400.00. Following the transaction, the director owned 46,690 shares in the company, valued at $5,864,264. This trade represents a 3.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Benchmark reissued a “buy” rating on shares of ServiceNow in a report on Friday, July 17th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ServiceNow in a research note on Monday, August 3rd. DA Davidson set a $170.00 target price on shares of ServiceNow and gave the company a “buy” rating in a research note on Monday, July 20th. Robert W. Baird raised their price target on shares of ServiceNow from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Finally, Argus cut their price objective on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, April 24th. One research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.24.

ServiceNow Stock Down 0.8%

NOW opened at $128.73 on Friday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. The business has a 50-day moving average of $108.88 and a two-hundred day moving average of $105.74. 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 stock has a market capitalization of $133.11 billion, a price-to-earnings ratio of 80.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping 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 business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period in the prior year, the firm posted $0.81 EPS. The company’s revenue was up 24.0% on a year-over-year basis. On average, research analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

ServiceNow News Roundup

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

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.