Tocqueville Asset Management L.P. Invests $10.69 Million in ServiceNow, Inc. $NOW

Tocqueville Asset Management L.P. purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 107,660 shares of the information technology services provider’s stock, valued at approximately $10,688,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. DCF Advisers LLC acquired a new position in ServiceNow in the 2nd quarter valued at $372,000. one8zero8 LLC acquired a new stake in shares of ServiceNow during the second quarter worth $211,000. Kentucky Farm Bureau Mutual Insurance Co acquired a new stake in shares of ServiceNow during the second quarter worth $1,241,000. Mmbg Investment Advisors CO. bought a new stake in shares of ServiceNow in the second quarter valued at about $2,251,000. Finally, West Family Investments Inc. bought a new stake in shares of ServiceNow in the second quarter valued at about $417,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target. BofA lifted its target from $130 to $150 and upgraded or reaffirmed the stock with a “Buy” rating, implying substantial upside from the referenced market level. Benzinga
• Positive Sentiment: Broader software-sector fears eased. Market commentary indicated that investors are moving away from the view that AI will make traditional enterprise software obsolete. This helped support ServiceNow and other major software stocks after a prolonged selloff. ServiceNow Leads a Software Rally
• Positive Sentiment: The Armis cybersecurity acquisition strengthens ServiceNow’s growth narrative. Coverage of the approximately $8 billion deal highlights its potential to expand ServiceNow’s AI-powered security platform and add preventive cyber-defense capabilities. ServiceNow Armis Acquisition
• Positive Sentiment: ServiceNow received additional bullish commentary. TD Cowen reiterated its “Buy” rating, while other analysts and market commentators pointed to the company’s recurring revenue, roughly 20%-plus growth profile and opportunities to monetize AI workflows. Why ServiceNow Stock Rallied
• Neutral Sentiment: New partnership expands the AI platform ecosystem. Tribal announced “Tribal for ServiceNow,” allowing enterprise teams to build and deploy AI agents within ServiceNow environments. The partnership may improve platform adoption, although its near-term financial impact is unclear. Tribal Partners with ServiceNow
• Negative Sentiment: AI-related business-model risks remain. Critics warn that AI could pressure per-seat software pricing if companies accomplish more work with fewer employees, potentially challenging long-term revenue growth. AI Risks to ServiceNow’s Business Model
• Negative Sentiment: Insider selling and acquisition execution risks remain overhangs. A director sold 1,500 shares under a pre-arranged Rule 10b5-1 plan, limiting its significance, while the Armis transaction creates integration and spending risks. ServiceNow Director Share Sale

ServiceNow Stock Up 6.5%

NOW stock opened at $127.22 on Thursday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The business has a 50-day simple moving average of $107.82 and a 200 day simple moving average of $105.49. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The company has a market cap of $131.54 billion, a PE ratio of 79.51, a price-to-earnings-growth ratio of 2.10 and a beta of 0.94.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data 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 net margin of 11.34% and a return on equity of 16.45%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the company posted $0.81 earnings per share. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

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 that occurred on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the completion of the sale, the director owned 46,690 shares of the company’s stock, valued at approximately $5,864,264. This represents a 3.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent research reports. BTIG Research reaffirmed a “buy” rating and set a $150.00 price target on shares of ServiceNow in a research report on Wednesday, July 22nd. Weiss Ratings downgraded shares of ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 10th. TD Cowen restated a “buy” rating and set a $140.00 target price on shares of ServiceNow in a research report on Monday. Evercore reaffirmed an “outperform” rating and set a $160.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Morgan Stanley set a $180.00 price target on shares of ServiceNow in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.24.

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.