DMC Group LLC Makes New Investment in ServiceNow, Inc. $NOW

DMC Group LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the third quarter, Holdings Channel reports. The institutional investor bought 5,186 shares of the information technology services provider’s stock, valued at approximately $695,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in ServiceNow in the second quarter valued at $9,536,615,000. Bank of New York Mellon Corp acquired a new position in shares of ServiceNow during the second quarter valued at about $712,573,000. Legal & General Group Plc acquired a new position in shares of ServiceNow during the second quarter valued at about $641,888,000. Bank of America Corp DE bought a new position in shares of ServiceNow during the 2nd quarter worth about $627,355,000. Finally, Deutsche Bank AG bought a new position in shares of ServiceNow during the 2nd quarter worth about $595,157,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Down 2.1%

Shares of NYSE NOW opened at $154.84 on Wednesday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $192.97. The firm’s 50-day simple moving average is $138.95 and its 200 day simple moving average is $115.78.

Analyst Ratings Changes

NOW has been the subject of several research reports. Jefferies Financial Group restated a “buy” rating on shares of ServiceNow in a research note on Tuesday, October 13th. Benchmark reaffirmed a “buy” rating on shares of ServiceNow in a research note on Friday, July 17th. Citigroup reiterated a “buy” rating and issued a $170.00 price target (up from $154.00) on shares of ServiceNow in a report on Wednesday, October 14th. Oppenheimer reiterated an “outperform” rating and issued a $165.00 price target (up from $140.00) on shares of ServiceNow in a report on Tuesday, October 13th. Finally, Yorkville Ives initiated coverage on ServiceNow in a research note on Monday, October 5th. They issued an “outperform” rating and a $160.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $155.74.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Google Cloud expanded their partnership to connect ServiceNow Action Fabric with Gemini Enterprise. The integration is intended to help AI agents execute actions across enterprise workflows, strengthening ServiceNow’s position in agentic AI and potentially increasing customer adoption. ServiceNow, Google Cloud Expand Partnership to Cover Agentic AI
• Positive Sentiment: Analysts remain constructive ahead of earnings. Cantor Fitzgerald raised its price target to $201 from $174 and maintained an overweight rating, while Bank of America lifted its target to $180 and kept a buy rating. Morgan Stanley also reiterated its buy rating, citing strong execution, AI-led demand and federal-sector opportunities. Cantor Fitzgerald Price Target Bank of America Raises ServiceNow Price Target
• Neutral Sentiment: The consensus outlook calls for third-quarter revenue of approximately $4.09 billion, representing about 20% year-over-year growth. Investors are likely to focus on current remaining performance obligations (CRPO), subscription growth, AI monetization and forward guidance. ServiceNow Q3 Earnings Preview
• Negative Sentiment: ServiceNow’s recent rally has intensified valuation concerns. With a high price-to-earnings multiple, investors may already be pricing in substantial AI-driven growth. Rising costs, competition and the possibility of cautious guidance could pressure the shares if earnings fail to exceed elevated expectations. ServiceNow: The 3 Big Reasons I’m Bailing on This Stock Ahead of Earnings

Insiders Place Their Bets

In related news, Director Paul Chamberlain sold 2,700 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of the sale, the director owned 43,990 shares in the company, valued at approximately $5,960,645. This represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 7,847 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $138.00, for a total value of $1,082,886.00. Following the sale, the insider owned 30,042 shares of the company’s stock, valued at $4,145,796. This trade represents a 20.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 14,081 shares of company stock valued at $1,937,904. Corporate insiders own 0.34% of the company’s stock.

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.