Great Lakes Advisors LLC Purchases Shares of 10,286 ServiceNow, Inc. $NOW

Great Lakes Advisors LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the second quarter, Holdings Channel.com reports. The firm purchased 10,286 shares of the information technology services provider’s stock, valued at approximately $1,021,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in ServiceNow during the second quarter worth about $9,536,615,000. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after acquiring an additional 81,752,460 shares in the last quarter. State Street Corp raised its holdings in shares of ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after acquiring an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after acquiring an additional 25,517,218 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after acquiring an additional 18,854,775 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Citizens Jmp reissued a “market outperform” rating and set a $157.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. KeyCorp reaffirmed an “underweight” rating on shares of ServiceNow in a research note on Tuesday, July 21st. DA Davidson set a $170.00 target price on shares of ServiceNow and gave the company a “buy” rating in a research report on Monday, July 20th. Bank of America boosted their price target on shares of ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Guggenheim raised shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $144.24.

More ServiceNow News

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

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by insiders.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $128.73 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $133.11 billion, a PE ratio of 80.46, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94. The business’s 50-day moving average price is $108.88 and its 200-day moving average price is $105.74. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73.

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, beating analysts’ consensus estimates of $0.86 by $0.04. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.ServiceNow’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period last year, the firm posted $0.81 EPS. Sell-side analysts forecast that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

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.