RDST Capital LLC Acquires Shares of 76,560 ServiceNow, Inc. $NOW

RDST Capital LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 76,560 shares of the information technology services provider’s stock, valued at approximately $8,004,000. ServiceNow accounts for about 0.8% of RDST Capital LLC’s portfolio, making the stock its 20th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Resources Management Corp CT ADV lifted its holdings in shares of ServiceNow by 30.5% during the first quarter. Resources Management Corp CT ADV now owns 15,290 shares of the information technology services provider’s stock worth $1,599,000 after purchasing an additional 3,575 shares during the period. Richwood Investment Advisors LLC raised its position in ServiceNow by 4.2% during the 1st quarter. Richwood Investment Advisors LLC now owns 26,826 shares of the information technology services provider’s stock worth $2,805,000 after buying an additional 1,071 shares during the last quarter. Empowered Funds LLC raised its position in ServiceNow by 9.4% during the 1st quarter. Empowered Funds LLC now owns 97,055 shares of the information technology services provider’s stock worth $10,147,000 after buying an additional 8,363 shares during the last quarter. Evelyn Partners Investment Management Services Ltd lifted its stake in shares of ServiceNow by 21.5% in the 1st quarter. Evelyn Partners Investment Management Services Ltd now owns 12,490 shares of the information technology services provider’s stock worth $1,306,000 after acquiring an additional 2,206 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in shares of ServiceNow by 52.2% in the 1st quarter. Quantinno Capital Management LP now owns 703,223 shares of the information technology services provider’s stock worth $73,522,000 after acquiring an additional 241,236 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the sale, the director owned 30,090 shares of the company’s stock, valued at $2,712,312.60. The trade was a 35.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 19,144 shares of company stock worth $1,730,097. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NOW. BTIG Research reiterated a “buy” rating and set a $150.00 price target on shares of ServiceNow in a research note on Wednesday, July 22nd. Jefferies Financial Group restated a “buy” rating and issued a $140.00 price objective (up from $135.00) on shares of ServiceNow in a research report on Thursday, July 23rd. KeyCorp reaffirmed an “underweight” rating on shares of ServiceNow in a report on Tuesday, July 21st. Royal Bank Of Canada reiterated an “outperform” rating and set a $130.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. Finally, Robert W. Baird increased their target price on ServiceNow from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.39.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s second-quarter performance remains a key bullish argument: revenue grew 24% year over year to $3.99 billion, earnings exceeded estimates, large-deal activity accelerated, and management raised its full-year outlook. The company also reported more than $1 billion in annual contract value from its AI offerings. Is the Market Mispricing ServiceNow’s AI Future?
• Positive Sentiment: Analysts and investors are increasingly viewing ServiceNow as an AI beneficiary rather than an AI-disruption victim. Its workflow automation platform, enterprise AI products, and potential shift toward consumption-based pricing could create additional revenue as customers deploy more AI-driven work. ServiceNow Is Building an AI Business for Enterprises
• Positive Sentiment: The company’s expanding cybersecurity business is being highlighted as another potential growth engine beyond AI, while a new integration from IP Fabric could strengthen ServiceNow’s configuration-management database offering and customer value proposition. ServiceNow’s Q2 Earnings Showed It’s More Than an AI Stock
• Neutral Sentiment: ServiceNow remains a popular “value” and turnaround discussion among analysts after falling substantially this year. The stock’s valuation is more attractive than before, but its elevated earnings multiple means investors still require sustained growth and successful AI monetization. ServiceNow’s Revenue Growth Is Accelerating
• Negative Sentiment: ServiceNow cut hundreds of jobs as part of a global restructuring and efficiency push. While the reductions may improve operating discipline and align with CEO Bill McDermott’s focus on streamlining workflows, they also signal cost pressures and broader uncertainty across the software sector. ServiceNow Cuts Jobs Amid Global Restructuring and AI Focus

ServiceNow Stock Performance

Shares of NOW opened at $110.55 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $201.15. The company has a 50-day simple moving average of $104.99 and a 200-day simple moving average of $106.84. The company has a market capitalization of $114.30 billion, a PE ratio of 69.09, a P/E/G ratio of 1.86 and a beta of 0.96.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 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 quarter in the previous year, the firm earned $0.81 earnings per share. The firm’s revenue was up 24.0% on a year-over-year basis. Equities research analysts predict that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

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.