ServiceNow, Inc. $NOW Holdings Cut by Corient Private Wealth LP

Corient Private Wealth LP lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 7.3% in the 2nd quarter, Holdings Channel reports. The firm owned 1,157,170 shares of the information technology services provider’s stock after selling 91,386 shares during the quarter. Corient Private Wealth LP’s holdings in ServiceNow were worth $114,884,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of ServiceNow during the 4th quarter valued at about $2,020,992,000. Moors & Cabot Inc. increased its holdings in ServiceNow by 387.7% during the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after purchasing an additional 36,274 shares in the last quarter. Bank of Nova Scotia increased its stake in shares of ServiceNow by 53.3% in the first quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock valued at $106,436,000 after buying an additional 353,749 shares in the last quarter. Huntington National Bank lifted its position in ServiceNow by 397.1% during the 4th quarter. Huntington National Bank now owns 544,257 shares of the information technology services provider’s stock worth $83,375,000 after buying an additional 434,761 shares in the last quarter. Finally, Orange Investment Advisors Inc. raised its stake in shares of ServiceNow by 449.0% in the fourth quarter. Orange Investment Advisors Inc. now owns 31,694 shares of the information technology services provider’s stock worth $4,855,000 after acquiring an additional 25,921 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 1.0%

Shares of NOW opened at $132.49 on Friday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The firm has a market cap of $136.99 billion, a P/E ratio of 82.81, a price-to-earnings-growth ratio of 2.41 and a beta of 0.97. The firm’s 50-day simple moving average is $120.27 and its 200 day simple moving average is $108.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 earnings per share. On average, analysts forecast that ServiceNow, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other news, insider Paul Fipps sold 2,034 shares of ServiceNow stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $147.87, for a total value of $300,767.58. Following the completion of the sale, the insider directly owned 18,305 shares in the company, valued at approximately $2,706,760.35. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 7,847 shares of the firm’s stock in a transaction 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 transaction, the insider owned 30,042 shares in the company, valued at approximately $4,145,796. This trade represents 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. Insiders sold 14,081 shares of company stock valued at $1,937,904 in the last quarter. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NOW shares. Jefferies Financial Group restated a “buy” rating and issued a $140.00 price objective (up from $135.00) on shares of ServiceNow in a report on Thursday, July 23rd. Guggenheim upgraded ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Wednesday, July 1st. BTIG Research lifted their price objective on ServiceNow from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday. Citic Securities reduced their target price on ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Finally, Morgan Stanley set a $180.00 target price on ServiceNow in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $145.71.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Needham raises ServiceNow target to $155: Needham & Company upgraded NOW to “buy” and increased its price target from $115 to $155, implying approximately 17% upside from the referenced share price. The move was part of a broader group of analyst target increases and is the clearest near-term catalyst for the stock. ServiceNow analyst forecasts
• Positive Sentiment: Agentic AI adoption is accelerating: ServiceNow is described as a leader in enterprise agentic AI, with production deployments increasing ninefold over nine months. Analysts expect AI-related revenue to grow substantially through 2030, supporting the long-term growth narrative. ServiceNow agentic AI analysis
• Positive Sentiment: Expanded AI visibility and ecosystem activity: ServiceNow will partner with Fortune on an October AI summit focused on commercializing AI, while RoboMQ launched an identity-governance application on the ServiceNow Store. These developments reinforce ServiceNow’s positioning as an enterprise workflow and AI platform, although they are unlikely to materially affect near-term revenue. Fortune AIQ Summit partnership
• Neutral Sentiment: Coverage on AI and cybersecurity highlights ServiceNow’s strategic relevance as businesses seek integrated automation, security and governance tools. However, the reports provide limited new financial guidance. AI and cybersecurity reshaping ServiceNow
• Negative Sentiment: Despite its growth prospects, AI revenue remains a relatively small portion of ServiceNow’s overall business, and the stock’s elevated valuation leaves it sensitive to any slowdown in enterprise spending or AI monetization.

About ServiceNow

ServiceNow, Inc is a cloud-based enterprise software company that provides digital workflow and automation solutions. Its Now Platform enables organizations to manage and connect business processes across information technology, customer service, human resources, finance, legal operations and other departments.

The company’s products and services include IT service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance management, strategic portfolio management and application development tools.