27,803 Shares in ServiceNow, Inc. $NOW Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the second quarter, Holdings Channel.com reports. The fund purchased 27,803 shares of the information technology services provider’s stock, valued at approximately $2,760,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC acquired a new stake in shares of ServiceNow during the 3rd quarter valued at approximately $29,000. Kelleher Financial Advisors purchased a new position in ServiceNow in the 3rd quarter valued at approximately $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 worth $123,000 after purchasing an additional 23 shares during the last quarter. Jupiter Wealth Management LLC purchased a new stake in ServiceNow during the second quarter worth $154,000. Finally, CBIZ Investment Advisory Services LLC grew its holdings in 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 purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s 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 of the company’s stock, valued at approximately $5,864,264. This trade represents a 3.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by insiders.

ServiceNow Stock Up 6.5%

Shares of NOW opened at $127.22 on Thursday. The firm has a market cap of $131.54 billion, a PE ratio of 79.51, a price-to-earnings-growth ratio of 2.10 and a beta of 0.94. The company’s fifty day moving average is $107.82 and its two-hundred day moving average is $105.49. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last issued 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. The business had revenue of $3.99 billion during 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%.The company’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS. Analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Evercore restated an “outperform” rating and set a $160.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. DA Davidson set a $170.00 price target on shares of ServiceNow and gave the company a “buy” rating in a report on Monday, July 20th. Sanford C. Bernstein reissued an “outperform” rating and set a $248.00 price objective (up from $236.00) on shares of ServiceNow in a research note on Thursday, July 23rd. Needham & Company LLC restated a “buy” rating and set a $115.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. Finally, Benchmark reaffirmed a “buy” rating on shares of ServiceNow in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $144.24.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target. BofA lifted its target from $130 to $150 and upgraded or reaffirmed the stock with a “Buy” rating, implying substantial upside from the referenced market level. Benzinga
• Positive Sentiment: Broader software-sector fears eased. Market commentary indicated that investors are moving away from the view that AI will make traditional enterprise software obsolete. This helped support ServiceNow and other major software stocks after a prolonged selloff. ServiceNow Leads a Software Rally
• Positive Sentiment: The Armis cybersecurity acquisition strengthens ServiceNow’s growth narrative. Coverage of the approximately $8 billion deal highlights its potential to expand ServiceNow’s AI-powered security platform and add preventive cyber-defense capabilities. ServiceNow Armis Acquisition
• Positive Sentiment: ServiceNow received additional bullish commentary. TD Cowen reiterated its “Buy” rating, while other analysts and market commentators pointed to the company’s recurring revenue, roughly 20%-plus growth profile and opportunities to monetize AI workflows. Why ServiceNow Stock Rallied
• Neutral Sentiment: New partnership expands the AI platform ecosystem. Tribal announced “Tribal for ServiceNow,” allowing enterprise teams to build and deploy AI agents within ServiceNow environments. The partnership may improve platform adoption, although its near-term financial impact is unclear. Tribal Partners with ServiceNow
• Negative Sentiment: AI-related business-model risks remain. Critics warn that AI could pressure per-seat software pricing if companies accomplish more work with fewer employees, potentially challenging long-term revenue growth. AI Risks to ServiceNow’s Business Model
• Negative Sentiment: Insider selling and acquisition execution risks remain overhangs. A director sold 1,500 shares under a pre-arranged Rule 10b5-1 plan, limiting its significance, while the Armis transaction creates integration and spending risks. ServiceNow Director Share Sale

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.