Clarus Wealth Advisors Purchases New Position in ServiceNow, Inc. $NOW

Clarus Wealth Advisors purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 18,912 shares of the information technology services provider’s stock, valued at approximately $2,038,000.

Several other institutional investors and hedge funds have also bought and sold shares of NOW. Independence Bank of Kentucky raised its holdings in shares of ServiceNow by 100.5% during the second quarter. Independence Bank of Kentucky now owns 30,632 shares of the information technology services provider’s stock valued at $3,041,000 after acquiring an additional 15,352 shares in the last quarter. Investors Research Corp boosted its holdings in ServiceNow by 787.2% in the second quarter. Investors Research Corp now owns 7,674 shares of the information technology services provider’s stock valued at $762,000 after acquiring an additional 6,809 shares in the last quarter. Triumph Capital Management boosted its holdings in ServiceNow by 16.2% in the second quarter. Triumph Capital Management now owns 11,671 shares of the information technology services provider’s stock valued at $1,159,000 after acquiring an additional 1,630 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in ServiceNow during the 2nd quarter valued at $456,000. Finally, Nwam LLC increased its position in ServiceNow by 29.1% during the 2nd quarter. Nwam LLC now owns 3,647 shares of the information technology services provider’s stock valued at $362,000 after purchasing an additional 822 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NOW shares. KeyCorp reaffirmed an “underweight” rating on shares of ServiceNow in a research report on Tuesday, July 21st. Morgan Stanley set a $180.00 price target on shares of ServiceNow in a research report on Tuesday, July 21st. Sanford C. Bernstein reissued an “outperform” rating and issued a $248.00 price target (up from $236.00) on shares of ServiceNow in a research note on Thursday, July 23rd. Citigroup restated a “market outperform” rating on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $175.00 price objective (up from $160.00) on shares of ServiceNow in a research report on Wednesday, August 12th. One research 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’s stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $144.24.

ServiceNow Stock Performance

Shares of NOW stock opened at $142.69 on Wednesday. The company’s fifty day moving average price is $114.37 and its 200-day moving average price is $107.20. The stock has a market cap of $147.54 billion, a PE ratio of 89.18, a price-to-earnings-growth ratio of 2.60 and a beta of 0.97. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period last year, the business earned $0.81 EPS. ServiceNow’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, equities analysts expect that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Investor sentiment is supported by reports that ServiceNow’s AI-related contracts have surpassed $1 billion. The company’s latest quarterly results also exceeded expectations, with EPS of $0.90 versus the $0.86 consensus and revenue of $3.99 billion versus $3.93 billion expected; revenue increased 24% year over year. ServiceNow Stock Surges Nearly 5% as AI Revenue Reaches $1 Billion Benchmark
• Positive Sentiment: A rebound in software stocks is helping ServiceNow. Recent enterprise-software earnings have eased concerns that generative AI will displace traditional applications, instead suggesting that AI may increase demand for automation and workflow tools. The SaaSpocalypse Trade Is Cracking
• Neutral Sentiment: Analysts remain moderately optimistic despite ServiceNow’s weaker performance than some software peers. Comparisons with Salesforce, UiPath and Fujitsu emphasize NOW’s strong enterprise position, while noting that competition and the profitability of agentic AI adoption remain important risks. ServiceNow Stock Performance Compared With Peers
• Negative Sentiment: Several insiders have recently sold shares. Director Paul Edward Chamberlain sold 2,700 shares for about $365,850, while executives Jacqueline Canney and Paul Fipps sold approximately $1.08 million and $301,000, respectively. Canney’s transaction was conducted under a pre-arranged Rule 10b5-1 plan, which reduces its significance as a discretionary bearish signal, but the cluster of sales may still weigh on sentiment. SEC Insider Filing
• Negative Sentiment: Escalating geopolitical tensions and overall market weakness have pressured software stocks, creating a near-term headwind for NOW despite its company-specific AI catalysts. ServiceNow Stock Slips

Insider Activity

In other news, insider Paul Fipps sold 2,034 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the sale, the insider directly owned 18,305 shares of the company’s stock, valued at $2,706,760.35. The trade was a 10.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 7,847 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the sale, the insider owned 30,042 shares in the company, valued at $4,145,796. The trade was a 20.71% 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. Over the last ninety days, insiders sold 14,081 shares of company stock worth $1,937,904. Insiders own 0.34% of the company’s stock.

ServiceNow 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.