Knuff & Co LLC Invests $5.95 Million in ServiceNow, Inc. $NOW

Knuff & Co LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 59,976 shares of the information technology services provider’s stock, valued at approximately $5,954,000. ServiceNow comprises 1.5% of Knuff & Co LLC’s holdings, making the stock its 19th biggest position.

Other hedge funds have also added to or reduced their stakes in the company. Florida Financial Advisors LLC lifted its holdings in shares of ServiceNow by 5.4% during the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after purchasing an additional 14 shares during the period. Clark Capital Management Group Inc. raised its position in ServiceNow by 3.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock worth $473,000 after purchasing an additional 18 shares during the last quarter. American Trust lifted its holdings in ServiceNow by 1.8% during the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock worth $947,000 after buying an additional 18 shares during the period. Morse Asset Management Inc grew its position in shares of ServiceNow by 0.5% in the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock valued at $3,586,000 after buying an additional 19 shares during the last quarter. Finally, CYBER HORNET ETFs LLC increased its stake in shares of ServiceNow by 3.7% in the third quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock valued at $522,000 after buying an additional 20 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Argus cut their price objective on ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Mizuho decreased their target price on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Oppenheimer restated an “outperform” rating and set a $140.00 price target (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. Cantor Fitzgerald upped their price target on shares of ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Finally, Barclays reiterated an “overweight” rating and set a $134.00 target price (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.24.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total transaction of $188,400.00. Following the transaction, the director owned 46,690 shares of the company’s stock, valued at $5,864,264. This represents a 3.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by insiders.

ServiceNow Stock Performance

NYSE NOW opened at $127.22 on Thursday. The company has a market capitalization of $131.54 billion, a PE ratio of 79.51, a price-to-earnings-growth ratio of 2.10 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. The company has a 50-day simple moving average of $107.82 and a 200 day simple moving average of $105.49.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company’s revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 EPS. On average, research analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current year.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target. BofA lifted its target from $130 to $150 and upgraded or reaffirmed the stock with a “Buy” rating, implying substantial upside from the referenced market level. Benzinga
• Positive Sentiment: Broader software-sector fears eased. Market commentary indicated that investors are moving away from the view that AI will make traditional enterprise software obsolete. This helped support ServiceNow and other major software stocks after a prolonged selloff. ServiceNow Leads a Software Rally
• Positive Sentiment: The Armis cybersecurity acquisition strengthens ServiceNow’s growth narrative. Coverage of the approximately $8 billion deal highlights its potential to expand ServiceNow’s AI-powered security platform and add preventive cyber-defense capabilities. ServiceNow Armis Acquisition
• Positive Sentiment: ServiceNow received additional bullish commentary. TD Cowen reiterated its “Buy” rating, while other analysts and market commentators pointed to the company’s recurring revenue, roughly 20%-plus growth profile and opportunities to monetize AI workflows. Why ServiceNow Stock Rallied
• Neutral Sentiment: New partnership expands the AI platform ecosystem. Tribal announced “Tribal for ServiceNow,” allowing enterprise teams to build and deploy AI agents within ServiceNow environments. The partnership may improve platform adoption, although its near-term financial impact is unclear. Tribal Partners with ServiceNow
• Negative Sentiment: AI-related business-model risks remain. Critics warn that AI could pressure per-seat software pricing if companies accomplish more work with fewer employees, potentially challenging long-term revenue growth. AI Risks to ServiceNow’s Business Model
• Negative Sentiment: Insider selling and acquisition execution risks remain overhangs. A director sold 1,500 shares under a pre-arranged Rule 10b5-1 plan, limiting its significance, while the Armis transaction creates integration and spending risks. ServiceNow Director Share Sale

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.