37,830 Shares in ServiceNow, Inc. $NOW Purchased by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 37,830 shares of the information technology services provider’s stock, valued at approximately $3,756,000.

A number of other large investors also recently bought and sold shares of NOW. Wealth Watch Advisors INC acquired a new stake in shares of ServiceNow during the third quarter valued at about $29,000. Kelleher Financial Advisors acquired a new position in shares of ServiceNow in the 3rd quarter worth approximately $50,000. Pin Oak Investment Advisors Inc. lifted its holdings in shares of ServiceNow by 20.7% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock worth $123,000 after acquiring an additional 23 shares during the last quarter. Jupiter Wealth Management LLC purchased a new position in shares of ServiceNow during the 2nd quarter worth approximately $154,000. Finally, CBIZ Investment Advisory Services LLC boosted its position in shares of ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NOW. Weiss Ratings upgraded shares of ServiceNow from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a research note on Monday, August 3rd. Citic Securities lowered their price target on ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Barclays reaffirmed an “overweight” rating and issued a $134.00 price objective (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Evercore reiterated an “outperform” rating and issued a $160.00 price objective on shares of ServiceNow in a report on Thursday, July 23rd. One equities 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 issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $144.24.

ServiceNow News Summary

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

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $128.73 on Friday. The business has a 50-day simple moving average of $108.88 and a 200-day simple moving average of $105.74. 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, Inc. has a one year low of $81.24 and a one year high of $194.73. The company has a market cap of $133.11 billion, a PE ratio of 80.46, a P/E/G ratio of 2.26 and a beta of 0.94.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating 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 firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter last year, the company earned $0.81 earnings per share. The firm’s revenue was up 24.0% compared to the same quarter last year. On average, equities research analysts forecast that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insider Activity at ServiceNow

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 value of $188,400.00. Following the sale, the director directly owned 46,690 shares of the company’s stock, valued at approximately $5,864,264. This represents a 3.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.34% of the company’s stock.

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.