Portfolio Design Labs LLC Buys Shares of 4,635 ServiceNow, Inc. $NOW

Portfolio Design Labs LLC bought a new stake in ServiceNow, Inc. (NYSE:NOW) during the second quarter, Holdings Channel.com reports. The firm bought 4,635 shares of the information technology services provider’s stock, valued at approximately $460,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SGL Investment Advisors Inc. acquired a new position in shares of ServiceNow during the second quarter worth $395,000. Advisors Capital Management LLC acquired a new stake in shares of ServiceNow during the 2nd quarter valued at $673,000. Tejara Capital Ltd acquired a new stake in shares of ServiceNow during the 2nd quarter valued at $4,047,000. MJP Associates Inc. ADV bought a new stake in ServiceNow during the 2nd quarter worth $310,000. Finally, PCM Encore LLC bought a new stake in ServiceNow during the 2nd quarter worth $728,000. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of several research reports. Capital One Financial increased their target price on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Needham & Company LLC restated a “buy” rating and set a $115.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. JPMorgan Chase & Co. upped their price objective on ServiceNow from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a report on Monday, August 3rd. Finally, Benchmark reiterated a “buy” rating on shares of ServiceNow in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.24.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total value of $188,400.00. Following the transaction, the director directly owned 46,690 shares of the company’s stock, valued at $5,864,264. The trade was a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 corporate insiders.

ServiceNow Stock Up 2.0%

Shares of NYSE:NOW opened at $129.73 on Friday. The firm has a market cap of $134.14 billion, a P/E ratio of 81.08, a P/E/G ratio of 2.24 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $194.73. The business has a fifty day simple moving average of $108.36 and a 200 day simple moving average of $105.58. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

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

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target to $150 from $130 and maintained a Buy rating. The firm said ServiceNow is among the software companies best positioned to monetize AI, helping support a broader software-sector rally. ServiceNow, Adobe, Workday stocks get BofA PT boost
• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production-scale deployments. The agreement could increase adoption of ServiceNow’s AI and automation tools and reinforce its positioning as an enterprise “AI control tower.” Tech Mahindra and ServiceNow Expand Partnership
• Positive Sentiment: Several market commentaries described NOW as an AI beneficiary, citing its recurring-revenue model, enterprise workflow position, and potential for continued earnings growth. Some analysts see further upside if ServiceNow delivers a strong third quarter. ServiceNow: A Clear AI Winner
• Neutral Sentiment: Television commentators included ServiceNow among their “final trades,” while broader coverage characterized the recent move as part of a rebound in beaten-down software stocks as fears of AI-driven disruption ease. CNBC Final Trades
• Negative Sentiment: Competitive and valuation risks remain. A Forbes article highlighted an AI startup, Serval, that aims to challenge ServiceNow in enterprise automation, while the stock’s elevated valuation leaves it sensitive to slower growth or disappointing AI monetization. Serval Wants To Replace ServiceNow
• Negative Sentiment: Separate coverage reported trading pressure following insider selling, which may raise short-term concerns about executive confidence, although TD Cowen reiterated its Buy rating. ServiceNow Trading Down Following Insider Selling

About ServiceNow

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.