GRIMES & Co WEALTH MANAGEMENT LLC Purchases 63,968 Shares of ServiceNow, Inc. $NOW

GRIMES & Co WEALTH MANAGEMENT LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 203.6% during the third quarter, Holdings Channel.com reports. The fund owned 95,382 shares of the information technology services provider’s stock after acquiring an additional 63,968 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in ServiceNow were worth $12,782,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in ServiceNow in the 2nd quarter valued at about $9,536,615,000. State Street Corp boosted its position in shares of ServiceNow by 2.0% in the second quarter. State Street Corp now owns 49,038,218 shares of the information technology services provider’s stock worth $4,868,514,000 after buying an additional 979,726 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of ServiceNow by 16.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,638,071 shares of the information technology services provider’s stock valued at $1,651,828,000 after buying an additional 2,362,606 shares in the last quarter. Amundi raised its position in ServiceNow by 60.9% during the first quarter. Amundi now owns 11,479,098 shares of the information technology services provider’s stock valued at $1,200,140,000 after buying an additional 4,346,722 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of ServiceNow by 6.5% in the 1st quarter. Bank of New York Mellon Corp now owns 8,526,931 shares of the information technology services provider’s stock valued at $891,491,000 after purchasing an additional 518,263 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 0.8%

Shares of ServiceNow stock opened at $105.96 on Tuesday. The business has a 50-day moving average of $138.25 and a two-hundred day moving average of $115.29. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $184.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $109.56 billion, a P/E ratio of 76.23, a price-to-earnings-growth ratio of 2.75 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.02). ServiceNow had a return on equity of 15.38% and a net margin of 9.36%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter last year, the business posted $4.82 earnings per share. The business’s quarterly revenue was up 20.5% on a year-over-year basis. As a group, equities analysts predict that ServiceNow, Inc. will post 2.14 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NOW. Mizuho set a $165.00 price objective on ServiceNow in a report on Thursday. Benchmark reaffirmed a “buy” rating on shares of ServiceNow in a research report on Friday, July 17th. Zacks Research cut ServiceNow from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. CLSA started coverage on ServiceNow in a research report on Monday, July 20th. They set an “underperform” rating and a $72.00 target price for the company. Finally, Citigroup reduced their target price on ServiceNow from $170.00 to $157.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. One 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, the stock has an average rating of “Moderate Buy” and an average target price of $154.50.

Insider Transactions at ServiceNow

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

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow launched its Control Tower Alliance to help large enterprises govern and control AI deployments. Founding partners include OpenAI, NVIDIA, Amazon Web Services, Cisco, Anthropic, and Kong, while expanded collaborations with OpenAI, Google Cloud, and Hewlett Packard Enterprise could strengthen ServiceNow’s position in AI workflows, security, and enterprise support. ServiceNow Rolls Out Control Tower Alliance
• Positive Sentiment: Despite the market reaction, ServiceNow continues to show consistent revenue growth and substantially higher revenue generation than UiPath. Its workflow automation platform and enterprise integrations are also expanding faster than Adobe’s top line, supporting the long-term growth case. ServiceNow vs. UiPath Adobe vs. ServiceNow
• Neutral Sentiment: CFO Gina Mastantuono rejected the narrative that AI is disrupting enterprise software, saying ServiceNow is strategically investing in customer success and accelerating AI adoption. The explanation may reassure long-term investors, but it also highlights near-term pressure on profitability. ServiceNow CFO Discusses AI Disruption
• Negative Sentiment: Third-quarter revenue of $4.11 billion was slightly above expectations, but adjusted EPS of $1.00 missed the $1.02 consensus estimate. Management’s increased AI-related investment and business-model changes caused a notable operating-margin decline, raising questions about the pace and quality of future growth. Top Analyst Questions From ServiceNow’s Q3 Earnings Call
• Negative Sentiment: Investors are increasingly worried that agentic AI could reduce demand for per-seat software licenses, creating a broader threat to ServiceNow’s business model. This concern, combined with a downgrade from an analyst, intensified selling despite 20.5% year-over-year revenue growth. ServiceNow and Agentic AI Disruption ServiceNow Analyst Downgrade

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.