Greenwood Capital Associates LLC Invests $3.26 Million in ServiceNow, Inc. $NOW

Greenwood Capital Associates LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 32,798 shares of the information technology services provider’s stock, valued at approximately $3,256,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Millstone Evans Group LLC boosted 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 worth $25,000 after acquiring an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Blueline Advisors LLC acquired a new position in ServiceNow during the fourth quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC increased its position in shares of ServiceNow by 560.0% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 140 shares during the last quarter. Finally, Wealth Watch Advisors INC grew its stake in shares of ServiceNow by 432.3% in the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 134 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on NOW. Citigroup reaffirmed a “market outperform” rating on shares of ServiceNow in a research report on Thursday, July 23rd. Evercore restated an “outperform” rating and set a $160.00 target price on shares of ServiceNow in a research note on Thursday, July 23rd. Wells Fargo & Company restated an “overweight” rating and set a $175.00 price objective (up from $160.00) on shares of ServiceNow in a report on Wednesday, August 12th. Jefferies Financial Group reiterated a “buy” rating and set a $140.00 target price (up from $135.00) on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, Oppenheimer reiterated an “outperform” rating and set a $140.00 price objective (up from $130.00) on shares of ServiceNow in a research report on Wednesday, July 15th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.24.

ServiceNow Stock Up 4.6%

NYSE NOW opened at $144.77 on Friday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The business has a fifty day moving average price of $112.33 and a two-hundred day moving average price of $106.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $149.69 billion, a PE ratio of 90.48, a PEG ratio of 2.55 and a beta of 0.94.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (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 analysts’ expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.81 earnings per share. Equities analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s 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 completion of the transaction, the director 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.34% of the company’s stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s recent rally was helped by Salesforce’s strong quarterly results and upbeat outlook, which eased concerns about a “SaaS-pocalypse.” Investors are increasingly viewing AI as an enhancement to existing enterprise workflows rather than a threat to core software platforms. Why ServiceNow Rallied Today
• Positive Sentiment: Analyst and market commentary highlights ServiceNow’s agentic-AI momentum, including more than $1 billion in AI annual contract value, broader enterprise adoption and potential new monetization opportunities. The company’s AI Control Tower and expanding customer spending are viewed as additional growth drivers. Agentic AI Adoption Boosts NOW’s Growth Prospects
• Positive Sentiment: Wall Street remains broadly constructive, with ServiceNow receiving Buy or Moderate Buy consensus ratings. The stock has also approached technical buy points, while some analysts have issued targets as high as $150 or substantially higher. Is It Worth Investing in ServiceNow Based on Wall Street’s Bullish Views?
• Neutral Sentiment: ServiceNow has risen about 70% from its yearly low and remains below its prior peak, creating debate over whether the move represents a new buying opportunity or a temporary rebound. Analysts’ median price target of approximately $134 is below the current trading level, limiting near-term upside based on that measure. Is It a Golden Opportunity to Buy ServiceNow Stock?
• Negative Sentiment: ServiceNow warned of three maximum-severity vulnerabilities that could allow unauthenticated attackers to execute code or access SQL systems. Although patches and mitigations may limit the financial impact, the disclosures create reputational, customer-retention and execution risks. Three CVSS 10.0 ServiceNow Flaws
• Negative Sentiment: At an elevated earnings multiple, the stock is vulnerable to profit-taking if AI growth slows. Jim Cramer recommended selling half a position and retaining the remainder, underscoring the sharp rally and the possibility that some optimism is already reflected in the shares. Jim Cramer’s ServiceNow Advice

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.