Encore Global Management LP Makes New $3.13 Million Investment in ServiceNow, Inc. $NOW

Encore Global Management LP bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,500 shares of the information technology services provider’s stock, valued at approximately $3,127,000. ServiceNow makes up approximately 3.1% of Encore Global Management LP’s investment portfolio, making the stock its 15th largest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Millstone Evans Group LLC lifted its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in shares of 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 buying an additional 135 shares during the last quarter. Blueline Advisors LLC bought a new stake in ServiceNow in the 4th quarter valued at $25,000. Measured Wealth Private Client Group LLC lifted its position in shares of ServiceNow by 560.0% in 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 acquiring an additional 140 shares during the period. Finally, Wealth Watch Advisors INC increased its holdings in ServiceNow by 432.3% in the 4th 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 during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the business’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 transaction, the director directly owned 46,690 shares of the company’s stock, 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 owned by corporate insiders.

ServiceNow Trading Down 0.8%

Shares of NOW stock opened at $128.73 on Friday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week 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 stock’s fifty day moving average price is $108.88 and its two-hundred day moving average price is $105.74. The company has a market cap of $133.11 billion, a PE ratio of 80.46, a P/E/G ratio of 2.28 and a beta of 0.94.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating 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 company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the prior year, the company earned $0.81 EPS. ServiceNow’s revenue was up 24.0% compared to the same quarter last year. Equities analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

More ServiceNow News

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

Analysts Set New Price Targets

Several analysts have weighed in on NOW shares. TD Cowen reaffirmed a “buy” rating and set a $140.00 price objective on shares of ServiceNow in a research note on Monday, August 17th. Citigroup reaffirmed a “market outperform” rating on shares of ServiceNow in a report on Thursday, July 23rd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $248.00 price target (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. Citizens Jmp reiterated a “market outperform” rating and set a $157.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Finally, UBS Group set a $248.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $144.24.

ServiceNow Company 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.