3,705 ServiceNow, Inc. $NOW Shares Acquired by Simplicity Wealth LLC

Simplicity Wealth LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 35.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 14,049 shares of the information technology services provider’s stock after acquiring an additional 3,705 shares during the period. Simplicity Wealth LLC’s holdings in ServiceNow were worth $1,883,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Nova Scotia lifted its stake in shares of ServiceNow by 53.3% in the 1st quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock valued at $106,436,000 after purchasing an additional 353,749 shares during the last quarter. Sapient Capital LLC grew its holdings in shares of ServiceNow by 266.0% during the 2nd quarter. Sapient Capital LLC now owns 77,661 shares of the information technology services provider’s stock worth $7,710,000 after purchasing an additional 56,444 shares during the period. Meeder Advisory Services Inc. purchased a new position in shares of ServiceNow during the 2nd quarter worth $2,881,000. Vestor Capital LLC grew its holdings in shares of ServiceNow by 38,987.2% during the 1st quarter. Vestor Capital LLC now owns 122,343 shares of the information technology services provider’s stock worth $12,791,000 after purchasing an additional 122,030 shares during the period. Finally, Cardano Risk Management B.V. increased its position in shares of ServiceNow by 6.9% during the 2nd quarter. Cardano Risk Management B.V. now owns 484,785 shares of the information technology services provider’s stock worth $48,129,000 after purchasing an additional 31,119 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Analysts raise targets: Cantor Fitzgerald lifted its price target from $174 to $201 and maintained an Overweight rating. Bank of America also raised its target to $180 while keeping a Buy rating, and Morgan Stanley reiterated its Buy rating with a $180 target. Analysts cited strong execution, AI-led demand and potential federal-sector growth. Cantor Fitzgerald ServiceNow rating Bank of America raises ServiceNow price target Morgan Stanley ServiceNow rating
• Positive Sentiment: AI and mission-critical software demand: Coverage highlights ServiceNow’s role in enterprise workflow automation and mission-critical IT software, with investors reassessing the value of enterprise AI applications. A broader resilience-orchestration market forecast also identifies ServiceNow as a participant in growth driven by AI, hybrid cloud and automated recovery. ServiceNow enterprise AI coverage
• Neutral Sentiment: Earnings are the next major catalyst: Zacks expects third-quarter revenue of approximately $4.09 billion, representing about 20% year-over-year growth. Investors will focus on subscription growth, AI bookings, margins, costs and guidance when results are released. ServiceNow Q3 earnings preview
• Negative Sentiment: Valuation and execution risks: ServiceNow trades at a high earnings multiple, making the stock vulnerable if results or guidance disappoint. One Seeking Alpha contributor issued a Strong Sell recommendation ahead of earnings, while other coverage flags rising costs, competition and uncertainty over whether AI-driven growth justifies the premium valuation. ServiceNow Strong Sell analysis

ServiceNow Price Performance

ServiceNow stock opened at $158.05 on Tuesday. 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, Inc. has a 52-week low of $81.24 and a 52-week high of $192.97. The firm has a market cap of $163.42 billion, a PE ratio of 98.78, a price-to-earnings-growth ratio of 2.92 and a beta of 0.99. The company’s 50 day moving average is $137.53 and its two-hundred day moving average is $115.71.

Analysts Set New Price Targets

Several analysts recently issued reports on NOW shares. Robert W. Baird boosted their price objective on shares of ServiceNow from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Barclays reaffirmed an “overweight” rating and set a $160.00 target price (up from $134.00) on shares of ServiceNow in a research note on Tuesday, October 13th. DA Davidson set a $170.00 price target on shares of ServiceNow and gave the company a “buy” rating in a research report on Monday, July 20th. Guggenheim reiterated a “buy” rating and set a $175.00 price target (up from $125.00) on shares of ServiceNow in a research report on Friday. Finally, Benchmark reissued a “buy” rating on shares of ServiceNow in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $155.74.

Insider Transactions at ServiceNow

In related news, Director Paul Chamberlain sold 2,700 shares of ServiceNow stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total value of $365,850.00. Following the completion of the transaction, the director directly owned 43,990 shares in the company, valued at approximately $5,960,645. This trade represents a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Fipps sold 2,034 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the transaction, the insider directly owned 18,305 shares of the company’s stock, valued at $2,706,760.35. The trade was a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 14,081 shares of company stock valued at $1,937,904. 0.34% of the stock is currently owned by company insiders.

ServiceNow Profile

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.