Clarkston Capital Partners LLC Makes New Investment in ServiceNow, Inc. $NOW

Clarkston Capital Partners LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 1st quarter, HoldingsChannel reports. The fund purchased 8,002 shares of the information technology services provider’s stock, valued at approximately $837,000.

Other institutional investors have also modified their holdings of the company. Wealth Watch Advisors INC purchased a new stake in shares of ServiceNow during the third quarter worth about $29,000. Kelleher Financial Advisors acquired a new position in shares of ServiceNow during the third quarter valued at about $50,000. Pin Oak Investment Advisors Inc. raised its position in shares of ServiceNow by 20.7% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 23 shares during the last quarter. Jupiter Wealth Management LLC purchased a new position in shares of ServiceNow in the 2nd quarter valued at approximately $154,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow beat Q2 earnings and revenue estimates, showing that demand for its workflow and AI products remains healthy.
• Positive Sentiment: The company raised its annual subscription revenue forecast again, which signals management confidence in continued growth.
• Positive Sentiment: AI-related momentum was a major highlight, with AI contract value topping $1 billion and multiple reports saying customers are adopting ServiceNow’s AI platform more aggressively.
• Positive Sentiment: Several analysts turned more constructive after earnings, including price-target increases and reaffirmed buy/overweight ratings.
• Neutral Sentiment: New partnerships and customer wins, including Experian, Leidos, TeamViewer, and Exclusive Networks, support the long-term platform story but are less likely to move the stock immediately. Article Title
• Negative Sentiment: Some investors remain worried that new AI tools from OpenAI and others could pressure legacy enterprise software, which has created volatility even after the earnings beat.

Analyst Ratings Changes

A number of research analysts have issued reports on NOW shares. Raymond James Financial decreased their price target on shares of ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. TD Cowen reissued a “buy” rating and issued a $140.00 target price on shares of ServiceNow in a research report on Friday, July 17th. Sanford C. Bernstein reissued an “outperform” rating and issued a $248.00 target price (up from $236.00) on shares of ServiceNow in a research report on Thursday. HSBC reduced their target price on ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Finally, Oppenheimer reiterated an “outperform” rating and set a $140.00 price target (up from $130.00) on shares of ServiceNow in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $143.39.

ServiceNow Trading Down 3.5%

NOW stock opened at $92.15 on Friday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $210.20. The business’s 50-day moving average is $104.70 and its 200 day moving average is $107.77. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market cap of $95.00 billion, a price-to-earnings ratio of 57.59, a PEG ratio of 1.60 and a beta of 0.96.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.63%. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 earnings per share. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.33 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director directly owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 19,144 shares of company stock valued at $1,730,097. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.