Heartland Bank & Trust Co Acquires Shares of 4,607 ServiceNow, Inc. $NOW

Heartland Bank & Trust Co bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, HoldingsChannel reports. The firm bought 4,607 shares of the information technology services provider’s stock, valued at approximately $457,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millstone Evans Group LLC lifted its position in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 132 shares during the period. CBIZ Investment Advisory Services LLC grew its holdings in ServiceNow by 540.0% in the fourth 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 during the period. Blueline Advisors LLC bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC increased its stake in shares of ServiceNow by 560.0% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. Finally, Wealth Watch Advisors INC lifted its holdings in shares of ServiceNow by 432.3% during the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 134 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NOW opened at $128.73 on Friday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73. The company has a market capitalization of $133.11 billion, a P/E ratio of 80.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. The firm has a 50 day moving average of $108.88 and a 200 day moving average of $105.74. 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 data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the prior year, the firm posted $0.81 EPS. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NOW shares. Cantor Fitzgerald boosted their price target on ServiceNow from $122.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Sanford C. Bernstein reiterated an “outperform” rating and set a $248.00 price objective (up from $236.00) on shares of ServiceNow in a research note on Thursday, July 23rd. Evercore reissued an “outperform” rating and issued a $160.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, TD Cowen restated a “buy” rating and set a $140.00 price target on shares of ServiceNow in a report on Monday, August 17th. 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 two have issued a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.24.

More ServiceNow News

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

Insider Buying and Selling at ServiceNow

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 directly owned 46,690 shares of the company’s stock, valued at $5,864,264. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 owned by corporate insiders.

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.