ServiceNow, Inc. $NOW Stock Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1,021.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,543 shares of the information technology services provider’s stock after purchasing an additional 13,246 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in ServiceNow were worth $1,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Cornerstone Financial Management LLC increased its position in shares of ServiceNow by 72.8% in the 2nd quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 107 shares during the period. Marquette Asset Management LLC lifted its position in ServiceNow by 75.0% during the 2nd quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 129 shares during the period. Kilter Group LLC acquired a new stake in ServiceNow during the 2nd quarter worth about $31,000. Solstein Capital LLC acquired a new stake in ServiceNow during the 2nd quarter worth about $35,000. Finally, Main Street Group LTD purchased a new stake in ServiceNow during the 1st quarter valued at about $40,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NOW shares. Citigroup cut their price objective on ServiceNow from $170.00 to $157.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. Needham & Company LLC raised their price objective on ServiceNow from $115.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, September 11th. Canaccord Genuity Group set a $145.00 target price on ServiceNow in a report on Thursday, October 29th. Benchmark reiterated a “buy” rating on shares of ServiceNow in a research report on Friday, July 17th. Finally, Stifel Nicolaus set a $160.00 price target on shares of ServiceNow and gave the stock a “buy” rating in a report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $154.50.

ServiceNow Stock Performance

Shares of NOW stock opened at $109.09 on Wednesday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $181.73. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.42. The stock has a market cap of $113.24 billion, a PE ratio of 78.48, a price-to-earnings-growth ratio of 2.03 and a beta of 1.00. The business has a 50-day simple moving average of $137.87 and a 200-day simple moving average of $115.16.

ServiceNow (NYSE:NOW) last posted 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). The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.09 billion. ServiceNow had a return on equity of 15.17% and a net margin of 9.36%. The firm’s revenue was up 20.5% on a year-over-year basis. During the same period last year, the business earned $4.82 earnings per share. On average, equities analysts expect that ServiceNow, Inc. will post 2.13 EPS for the current year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Argus reaffirmed its Buy rating and set a $170 price target, signaling confidence in ServiceNow’s recovery potential after the recent selloff. Argus rating and price target
• Positive Sentiment: ServiceNow’s enterprise AI push—including its Control Tower Alliance with major technology partners—could strengthen its role in helping companies deploy and govern AI. ServiceNow rolls out Control Tower Alliance
• Positive Sentiment: Recent commentary argues that the selloff may offer a buying opportunity, citing ServiceNow’s growth prospects and demand for AI-driven workflow tools. ServiceNow Stock: Buy the Dip?
• Neutral Sentiment: Q3 revenue was about $4.1 billion, slightly ahead of estimates, but the company is increasing AI-related investment and shifting toward outcome-based pricing—changes that could affect how growth and profitability develop. How Higher AI Spending Will Impact ServiceNow Stock
• Negative Sentiment: The sharp recent decline followed weaker fourth-quarter backlog guidance, which revived fears that AI could disrupt seat-based software models and weigh on future growth. ServiceNow’s selloff and Wall Street price-target cuts
• Negative Sentiment: Management’s AI investments and business-model changes pressured operating margins, adding to investor concerns despite revenue growth. Analyst questions from ServiceNow’s Q3 earnings call

Insider Buying and Selling at ServiceNow

In other news, insider Paul Fipps sold 2,034 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were 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 $2,706,760.35. This trade represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 7,847 shares of ServiceNow stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the transaction, the insider directly owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. This trade represents a 20.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 14,081 shares of company stock valued at $1,937,904. 0.34% of the stock is 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.