Van ECK Associates Corp Reduces Position in ServiceNow, Inc. $NOW

Van ECK Associates Corp trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 86.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 143,778 shares of the information technology services provider’s stock after selling 952,099 shares during the quarter. Van ECK Associates Corp’s holdings in ServiceNow were worth $14,274,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Millstone Evans Group LLC increased its holdings in shares of ServiceNow by 400.0% in 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 increased its stake in shares of ServiceNow by 540.0% in the 4th 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 during the last quarter. Blueline Advisors LLC purchased a new position in shares of ServiceNow during the 4th quarter worth $25,000. Measured Wealth Private Client Group LLC raised its holdings 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 acquiring an additional 140 shares during the period. Finally, Wealth Watch Advisors INC boosted its position in shares of ServiceNow by 432.3% during the 4th quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Investor enthusiasm is being supported by reports that ServiceNow’s AI-related contracts have surpassed $1 billion, while its latest quarterly results exceeded expectations: adjusted EPS was $0.90 versus a $0.86 consensus estimate, revenue reached $3.99 billion versus $3.93 billion expected, and revenue increased 24% year over year. ServiceNow Stock Surges Nearly 5% as AI Revenue Reaches $1 Billion Benchmark
• Positive Sentiment: ServiceNow is benefiting from a broader rebound in software stocks. Recent earnings from ServiceNow and other major software companies are easing fears that generative AI will erode demand for traditional enterprise applications, instead suggesting that AI is expanding automation spending. The SaaSpocalypse Trade Is Cracking
• Positive Sentiment: A technical trading signal appeared near $144.84, followed by a move toward an intraday high, adding short-term momentum to the stock. ServiceNow Stock Up Nearly 3% After Key Trading Signal
• Neutral Sentiment: Articles comparing ServiceNow with Salesforce and UiPath highlight its strong enterprise position and AI-automation opportunity, but also frame the sector as a competitive contest in which execution and the economics of “agentic” AI consumption will determine the long-term winner. ServiceNow Vs. Salesforce
• Negative Sentiment: Broader market pressure tied to escalating geopolitical tensions weighed on software shares during the session, creating a headwind despite ServiceNow-specific AI optimism. ServiceNow Stock Slips Monday
• Negative Sentiment: Director Paul Edward Chamberlain sold 2,700 shares for approximately $365,850, reducing his holdings by 5.78%. The remaining stake is substantial, but the insider sale may add limited selling pressure. SEC Insider Trading Filing

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 2,700 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the transaction, the director directly owned 43,990 shares in the company, valued at $5,960,645. This represents a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NOW opened at $148.43 on Tuesday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $194.73. The stock has a market cap of $153.48 billion, a PE ratio of 92.77, a P/E/G ratio of 2.55 and a beta of 0.94. The firm has a 50-day simple moving average of $113.43 and a two-hundred day simple moving average of $106.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping the consensus estimate 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 for the quarter was up 24.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 EPS. As a group, analysts forecast that ServiceNow, Inc. will post 2.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NOW shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $130.00 price objective on shares of ServiceNow in a report on Thursday, July 23rd. BTIG Research reiterated a “buy” rating and issued a $150.00 target price on shares of ServiceNow in a report on Wednesday, July 22nd. Evercore reiterated an “outperform” rating and issued a $160.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. Robert W. Baird raised their price target on shares of ServiceNow from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $248.00 price target (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target 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.