PenderFund Capital Management Ltd. Purchases Shares of 3,700 ServiceNow, Inc. $NOW

PenderFund Capital Management Ltd. purchased a new position in ServiceNow, Inc. (NYSE:NOW) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,700 shares of the information technology services provider’s stock, valued at approximately $367,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Watch Advisors INC purchased a new position in shares of ServiceNow during the 3rd quarter valued at $29,000. Kelleher Financial Advisors purchased a new stake in ServiceNow in the 3rd quarter worth $50,000. Pin Oak Investment Advisors Inc. raised its holdings in ServiceNow by 20.7% during the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after acquiring an additional 23 shares during the period. Jupiter Wealth Management LLC bought a new stake in ServiceNow during the second quarter valued at about $154,000. Finally, CBIZ Investment Advisory Services LLC lifted its position in shares of ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Salesforce earnings lifted the sector. Salesforce’s strong quarterly results, raised guidance and “Claudeforce” AI announcement eased fears of a broad “SaaS-pocalypse.” The read-through suggests businesses are adding AI tools to existing software platforms rather than replacing them, benefiting ServiceNow. Why ServiceNow Rallied Today
• Positive Sentiment: Enterprise AI momentum remains a key catalyst. Reports highlighted ServiceNow’s more than $1 billion in AI annual contract value, expanding customer adoption and the potential for its AI Control Tower and agentic-AI products to create additional revenue streams. Agentic AI Adoption Boosts NOW’s Growth Prospects Against MSFT & CRM
• Positive Sentiment: Technical and analyst sentiment improved. ServiceNow cleared an early buy point as disruption fears faded, while coverage cited positive price-target actions and a potential sector re-rating. ServiceNow, IBD Stock Of The Day
• Positive Sentiment: Platform integrations support monetization. Pricefx announced an integration that brings AI-powered deal optimization and sales guidance to ServiceNow workflows, reinforcing the platform’s ecosystem and enterprise-use case. Pricefx Announces Integration with ServiceNow

ServiceNow Trading Up 10.1%

NOW stock opened at $138.50 on Friday. The firm has a fifty day moving average price of $111.34 and a 200 day moving average price of $106.33. 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 $143.20 billion, a PE ratio of 86.56, a price-to-earnings-growth ratio of 2.21 and a beta of 0.94. 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 quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) 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 company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. ServiceNow’s revenue was up 24.0% on a year-over-year basis. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the sale, the director directly owned 46,690 shares in the company, valued at approximately $5,864,264. This represents a 3.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NOW shares. Evercore reiterated an “outperform” rating and set a $160.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. Morgan Stanley set a $180.00 price target on ServiceNow in a report on Tuesday, July 21st. Wells Fargo & Company reaffirmed an “overweight” rating and set a $175.00 price objective (up from $160.00) on shares of ServiceNow in a report on Wednesday, August 12th. Needham & Company LLC reiterated a “buy” rating and set a $115.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average target price of $144.24.

ServiceNow 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.