Praesidium Investment Management Company LLC Purchases Shares of 196,540 ServiceNow, Inc. $NOW

Praesidium Investment Management Company LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 196,540 shares of the information technology services provider’s stock, valued at approximately $19,512,491. ServiceNow comprises approximately 0.0% of Praesidium Investment Management Company LLC’s investment portfolio, making the stock its 6th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in ServiceNow in the 2nd quarter worth about $9,536,615,000. State Street Corp increased its position in shares of ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after acquiring an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of ServiceNow by 371.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after acquiring an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC grew its position in shares of ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after buying an additional 18,854,775 shares during the last quarter. Finally, Morgan Stanley boosted its position in ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after purchasing an additional 17,514,679 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NOW. 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. increased their price target on ServiceNow from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. BMO Capital Markets increased their price target on shares of ServiceNow from $115.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Citizens Jmp reissued a “market outperform” rating and set a $157.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Finally, KeyCorp reissued an “underweight” rating on shares of ServiceNow in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.24.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Enterprise AI momentum is the primary catalyst. Recent coverage highlights more than $1 billion in AI annual contract value, growing adoption of agentic AI, and new monetization opportunities through offerings such as the AI Control Tower. Investors increasingly view AI as expanding ServiceNow’s platform rather than replacing it. Agentic AI Adoption Boosts NOW’s Growth Prospects Against MSFT & CRM
• Positive Sentiment: Salesforce’s strong quarter lifted the entire software sector. Salesforce’s earnings beat, upbeat guidance and AI commentary eased “SaaS-pocalypse” concerns, encouraging investors to buy large enterprise-software companies, including ServiceNow. The broader sector rally and technical breakout have added momentum. Why ServiceNow Rallied Today
• Positive Sentiment: Wall Street remains broadly constructive. ServiceNow carries a consensus “Moderate Buy” or Buy-equivalent rating, while recent commentary points to potential upside if enterprise AI spending continues. ServiceNow Receives Consensus Recommendation of Moderate Buy
• Neutral Sentiment: The rebound has been substantial but valuation remains a consideration. NOW has risen about 70% from its yearly low and remains below its prior peak. Analysts’ median target of approximately $134 is near or below the recently reported trading level, suggesting that much of the near-term optimism may already be reflected in the stock. Is It a Golden Opportunity to Buy ServiceNow Stock?
• Neutral Sentiment: Some investors are taking a balanced approach. Jim Cramer advised selling part of a ServiceNow position to lock in gains while retaining shares for possible further upside. This underscores both the improved outlook and the risk of a sharp pullback after the rally. Jim Cramer Tells Investors What to Do With ServiceNow
• Negative Sentiment: ServiceNow disclosed three critical security vulnerabilities. The reported CVSS 10.0 flaws could allow unauthenticated attackers to execute code or access SQL databases, creating potential remediation, reputational and customer-confidence risks, although the direct financial impact was not specified. Three CVSS 10.0 ServiceNow Flaws

Insider Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’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 sale, the director owned 46,690 shares in the company, valued at $5,864,264. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

Shares of NOW traded up $6.34 during midday trading on Friday, reaching $144.77. The stock had a trading volume of 28,892,560 shares, compared to its average volume of 23,469,434. The firm has a market cap of $149.69 billion, a PE ratio of 90.48, a P/E/G ratio of 2.21 and a beta of 0.94. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $194.73. The firm has a 50 day simple moving average of $111.34 and a 200-day simple moving average of $106.33.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.04. The business had revenue of $3.99 billion during 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%.ServiceNow’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current year.

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.