Connor Clark & Lunn Investment Management Ltd. Makes New Investment in ServiceNow, Inc. $NOW

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 122,484 shares of the information technology services provider’s stock, valued at approximately $12,160,000.

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

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s expanded, multiyear AI partnership with Tech Mahindra is intended to accelerate enterprise deployments, strengthen AI governance and support monetization. The agreement could improve ServiceNow’s competitive position against Salesforce and Microsoft. Can NOW’s Tech Mahindra Deal Boost Its AI Edge Over CRM & MSFT?
• Positive Sentiment: ServiceNow partners are building implementation and advisory offerings around its AI platform. CoreX’s launch of AI Horizon highlights growing ecosystem support and may help customers adopt AI-native workflows, potentially increasing platform usage and services demand. CoreX Launches AI Horizon to Guide Enterprises to AI-Native Work
• Positive Sentiment: Bank of America’s decision to raise price targets across software stocks suggests analysts see the sector selloff as potentially stabilizing, providing a more supportive backdrop for NOW. Bank of America raises price targets on 10 software stocks
• Neutral Sentiment: Analysts view ServiceNow as a major beneficiary of AI-driven enterprise workflow spending, but the stock’s move toward the $150 area makes continued gains dependent on stronger execution, growth and evidence that AI products are generating material revenue. ServiceNow Just Ripped 29% in a Month
• Negative Sentiment: Datadog is currently favored over ServiceNow because of faster growth, stronger earnings surprises and expanding AI opportunities, reinforcing concerns that NOW’s premium valuation may be difficult to sustain. DDOG vs. NOW: Which Cloud Software Stock Has an Edge Right Now?
• Negative Sentiment: Investors remain concerned that AI-generated or “vibe-coded” applications could eventually reduce demand for traditional SaaS platforms, including ServiceNow. Questions about acquisitions and capital allocation add further risk, while a broader rotation away from technology could limit near-term upside.

Insider Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s 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 completion of the sale, 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 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. Insiders own 0.34% of the company’s stock.

ServiceNow Trading Down 0.8%

NOW stock opened at $126.98 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $194.73. The stock has a market cap of $131.29 billion, a price-to-earnings ratio of 79.36, a PEG ratio of 2.25 and a beta of 0.94. The business’s 50-day moving average is $109.87 and its 200 day moving average is $105.90.

ServiceNow (NYSE:NOW) last released 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 net margin of 11.34% and a return on equity of 16.45%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NOW. Robert W. Baird upped their target price on ServiceNow from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. UBS Group set a $248.00 price target on shares of ServiceNow in a research report on Thursday, July 23rd. BTIG Research restated a “buy” rating and set a $150.00 price objective on shares of ServiceNow in a research note on Wednesday, July 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $140.00 price objective (up from $135.00) on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of ServiceNow in a report on Monday, August 3rd. One research 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 assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.