William Blair Investment Management LLC Takes Position in ServiceNow, Inc. $NOW

William Blair Investment Management LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the second quarter, Holdings Channel.com reports. The firm purchased 1,551,192 shares of the information technology services provider’s stock, valued at approximately $154,002,000.

Several other hedge funds and other institutional investors have also modified their holdings of NOW. Wealth Watch Advisors INC acquired a new position in ServiceNow in the 3rd quarter worth about $29,000. Kelleher Financial Advisors acquired a new stake in shares of ServiceNow during the 3rd quarter valued at about $50,000. Pin Oak Investment Advisors Inc. lifted its holdings in shares of ServiceNow by 20.7% during 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 buying an additional 23 shares during the last quarter. Jupiter Wealth Management LLC bought a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $154,000. Finally, CBIZ Investment Advisory Services LLC grew its stake in shares of 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 valued at $25,000 after buying an additional 135 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NOW. Bank of America increased their price objective on ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. CLSA assumed coverage on shares of ServiceNow in a research report on Monday, July 20th. They issued an “underperform” rating and a $72.00 target price for the company. Royal Bank Of Canada restated an “outperform” rating and set a $130.00 price target on shares of ServiceNow in a research note on Thursday, July 23rd. BTIG Research restated a “buy” rating and set a $150.00 price target on shares of ServiceNow in a report on Wednesday, July 22nd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of ServiceNow in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.24.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total value of $188,400.00. Following the completion of the sale, the director directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Down 0.8%

Shares of NOW stock opened at $128.73 on Friday. The stock’s 50 day simple moving average is $108.88 and its 200 day simple moving average is $105.74. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month 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 capitalization of $133.11 billion, a price-to-earnings ratio of 80.46, a PEG ratio of 2.28 and a beta of 0.94.

ServiceNow (NYSE:NOW) last announced 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. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. The company’s revenue was up 24.0% on a year-over-year basis. As a group, research analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current year.

Trending Headlines about ServiceNow

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

ServiceNow 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.