22,859 Shares in ServiceNow, Inc. $NOW Purchased by First Trust Bank Ltd.

First Trust Bank Ltd. purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 22,859 shares of the information technology services provider’s stock, valued at approximately $2,269,442,000. ServiceNow makes up 4.6% of First Trust Bank Ltd.’s portfolio, making the stock its 6th biggest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Keebeck Wealth Management bought a new stake in shares of ServiceNow in the 2nd quarter worth approximately $595,000. Keating Financial Advisory Services Inc. acquired a new stake in ServiceNow during the second quarter valued at approximately $63,000. Encore Global Management LP bought a new stake in ServiceNow during the second quarter worth approximately $3,127,000. Caldwell Investment Management Ltd. bought a new stake in ServiceNow during the second quarter worth approximately $694,000. Finally, Patron Partners LLC acquired a new position in ServiceNow in the second quarter worth approximately $254,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Down 0.8%

Shares of NYSE:NOW opened at $128.73 on Friday. The firm has a 50 day simple moving average of $108.88 and a 200 day simple moving average of $105.74. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $133.11 billion, a PE ratio of 80.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the previous year, the company posted $0.81 EPS. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. As a group, research analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow 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 in the company, valued at approximately $5,864,264. The trade was a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 company insiders.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production. The “Client Zero” approach combines ServiceNow’s AI platform with Tech Mahindra’s industry expertise, potentially increasing adoption, automation revenue and measurable customer outcomes. Tech Mahindra and ServiceNow Expand Partnership to Deliver Production-Ready Enterprise AI at Scale
• Positive Sentiment: Bank of America raised its ServiceNow price target to $150, citing the company’s positioning to monetize artificial intelligence as concerns about AI disruption to traditional software fade. The move contributed to broader bullish sentiment across software stocks. Bank of America Increases ServiceNow Price Target to $150
• Positive Sentiment: ServiceNow has gained substantially since its latest earnings report, which beat estimates on both adjusted earnings and revenue. Quarterly revenue increased 24% year over year, reinforcing the view that the company remains a leading enterprise AI and workflow platform. ServiceNow Up 41.1% Since Last Earnings Report
• Positive Sentiment: ServiceNow was also selected as a CNBC “Final Trade,” providing additional visibility and signaling continued support from some professional investors. Final Trades: ServiceNow, Vertex and Uber
• Neutral Sentiment: Despite the favorable company news, midday AI buying has been concentrated in government-facing companies such as Palantir and BigBear.ai rather than enterprise software, limiting near-term upside for NOW. How Are Traders Picking the Software Winners?
• Negative Sentiment: Investors continue to monitor competitive threats from newer AI-native automation platforms, including Serval, as well as ServiceNow’s premium valuation. Those concerns may encourage profit-taking after the stock’s sharp post-earnings advance. Serval Wants To Replace ServiceNow With AI That Builds Enterprise Automation

Analysts Set New Price Targets

NOW has been the topic of several research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $140.00 price target (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. Needham & Company LLC reissued a “buy” rating and set a $115.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. DA Davidson set a $170.00 target price on ServiceNow and gave the stock a “buy” rating in a report on Monday, July 20th. KeyCorp reaffirmed an “underweight” rating on shares of ServiceNow in a research report on Tuesday, July 21st. Finally, Benchmark reaffirmed 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 assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.24.

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.