ServiceNow, Inc. $NOW Shares Newly Purchased by Variant Private Wealth LLC

Variant Private Wealth LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 6,250 shares of the information technology services provider’s stock, valued at approximately $838,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cornerstone Financial Management LLC raised its position in shares of ServiceNow by 72.8% in the 2nd quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 107 shares during the period. CrossGen Wealth LLC acquired a new position in ServiceNow during the first quarter valued at approximately $29,000. Marquette Asset Management LLC grew its holdings in ServiceNow by 75.0% during the second quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 129 shares during the period. Kilter Group LLC acquired a new position in ServiceNow during the second quarter valued at approximately $31,000. Finally, Solstein Capital LLC bought a new stake in ServiceNow in the second quarter valued at approximately $35,000. 87.18% of the stock is owned by institutional investors.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Analysts have raised price targets ahead of earnings, citing ServiceNow’s 24% year-over-year revenue growth, strong enterprise retention, federal demand and growing adoption of AI workflow tools. Bernstein set a Street-high $266 target, while Piper Sandler and TD Cowen also lifted their targets. ServiceNow Orchestrates AI’s Next Act—Can Earnings Deliver?
• Positive Sentiment: ServiceNow’s AI strategy is viewed as a potential long-term growth catalyst. Its platform is expanding from seat-based software toward usage-based AI “assists,” while new no-code agent tools and AI governance capabilities could create high-margin upsell opportunities across its installed customer base. ServiceNow: The Shift From Seats To ‘Assists’ Uncaps Exponential Growth
• Positive Sentiment: ServiceNow was named a new BMO Capital Markets Top Pick, and its deeply embedded enterprise workflows are considered relatively resilient compared with more speculative AI hardware investments. A healthcare partnership to build payer-specific solutions also broadens potential AI-platform adoption. These 2 software stocks are new Top Picks at BMO
• Neutral Sentiment: Investors are focused on the October 28 earnings report. The prior quarter exceeded earnings and revenue estimates, but current previews call for a possible single-digit earnings decline, making guidance, subscription growth and AI monetization especially important. ServiceNow’s Quarterly Earnings Preview
• Negative Sentiment: Zacks Research downgraded ServiceNow from “hold” to “strong sell,” highlighting near-term caution after the stock’s recovery. The company also faces premium valuation risk, with a trailing P/E near 96, increased short interest and recent sales-related layoffs in San Diego.

Insider Transactions at ServiceNow

In related news, Director Paul Chamberlain sold 2,700 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the sale, the director directly owned 43,990 shares in the company, valued at $5,960,645. This trade represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline Canney sold 7,847 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the sale, the insider owned 30,042 shares in the company, valued at approximately $4,145,796. The trade was a 20.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,081 shares of company stock valued at $1,937,904 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NOW shares. Citigroup reiterated a “buy” rating and issued a $170.00 target price (up from $154.00) on shares of ServiceNow in a report on Wednesday, October 14th. Truist Financial set a $180.00 price target on shares of ServiceNow and gave the company a “buy” rating in a report on Wednesday. Sanford C. Bernstein restated an “outperform” rating and issued a $266.00 price objective on shares of ServiceNow in a research report on Tuesday. Stifel Nicolaus set a $160.00 price objective on shares of ServiceNow and gave the company a “buy” rating in a research report on Tuesday, October 6th. Finally, CLSA assumed coverage on ServiceNow in a research note on Monday, July 20th. They set an “underperform” rating and a $72.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.90.

ServiceNow Stock Up 2.6%

NOW stock traded up $3.83 during mid-day trading on Wednesday, hitting $153.37. 6,383,304 shares of the company were exchanged, compared to its average volume of 21,405,787. 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 firm has a market cap of $158.59 billion, a P/E ratio of 95.96, a P/E/G ratio of 2.67 and a beta of 0.99. The firm’s 50 day simple moving average is $136.01 and its 200 day simple moving average is $114.34. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $192.97.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share 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 analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business’s revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 earnings per share. On average, sell-side analysts predict that ServiceNow, Inc. will post 2.22 EPS for the current fiscal year.

ServiceNow Profile

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.