Oppenheimer & Co. Inc. Sells 10,191 Shares of ServiceNow, Inc. $NOW

Oppenheimer & Co. Inc. lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 12.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,328 shares of the information technology services provider’s stock after selling 10,191 shares during the period. Oppenheimer & Co. Inc.’s holdings in ServiceNow were worth $9,961,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Center for Financial Planning Inc. raised its stake in ServiceNow by 51.7% in the 3rd quarter. Center for Financial Planning Inc. now owns 402 shares of the information technology services provider’s stock valued at $54,000 after purchasing an additional 137 shares during the last quarter. Verdence Capital Advisors LLC purchased a new position in ServiceNow in the 3rd quarter valued at $276,000. Odyssey Capital Advisors Inc. lifted its holdings in ServiceNow by 11.1% in the 3rd quarter. Odyssey Capital Advisors Inc. now owns 9,462 shares of the information technology services provider’s stock valued at $1,268,000 after purchasing an additional 942 shares in the last quarter. AGH Wealth Advisors LLC acquired a new stake in ServiceNow during the 3rd quarter worth $351,000. Finally, IVC Wealth Advisors LLC acquired a new stake in ServiceNow during the 3rd quarter worth $211,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NOW shares. DA Davidson set a $170.00 target price on shares of ServiceNow and gave the stock a “buy” rating in a report on Monday, July 20th. BTIG Research reissued a “buy” rating and issued a $170.00 price target on shares of ServiceNow in a research note on Monday, October 12th. Morgan Stanley set a $180.00 price target on shares of ServiceNow in a research report on Tuesday, July 21st. Needham & Company LLC boosted their price target on shares of ServiceNow from $115.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $190.00 price objective (up from $175.00) on shares of ServiceNow in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.74.

Trending Headlines about ServiceNow

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 dated Thursday, August 27th. The shares were sold at an average price of $135.50, for a total value of $365,850.00. Following the completion of the sale, the director owned 43,990 shares of the company’s stock, valued at approximately $5,960,645. This represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul Fipps sold 2,034 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $147.87, for a total transaction of $300,767.58. Following the sale, the insider owned 18,305 shares of the company’s stock, valued at approximately $2,706,760.35. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 14,081 shares of company stock valued at $1,937,904 in the last three months. 0.34% of the stock is currently owned by 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.