ServiceNow, Inc. $NOW Shares Sold by MN Wealth Advisors LLC

MN Wealth Advisors LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 64.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,346 shares of the information technology services provider’s stock after selling 7,822 shares during the quarter. MN Wealth Advisors LLC’s holdings in ServiceNow were worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of ServiceNow in the second quarter valued at about $9,536,615,000. Bank of New York Mellon Corp acquired a new stake in ServiceNow in the 2nd quarter worth about $712,573,000. Legal & General Group Plc acquired a new stake in ServiceNow in the 2nd quarter worth about $641,888,000. Bank of America Corp DE acquired a new stake in ServiceNow in the 2nd quarter worth about $627,355,000. Finally, Deutsche Bank AG bought a new stake in ServiceNow in the 2nd quarter valued at about $595,157,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target to $180 ahead of ServiceNow’s third-quarter results, citing continued demand for AI-related products and services. The revised target signals confidence that AI adoption can support additional growth. Bank of America Boosts ServiceNow Forecast Ahead of Earnings
• Positive Sentiment: ServiceNow’s defense and national-security business is being positioned as a major growth driver over the next year. Management highlighted demand for workflow automation, AI, cybersecurity, logistics modernization and digital transformation among military and government agencies. ServiceNow Defense Business Interview
• Positive Sentiment: The company and Nvidia launched “Arc,” an AI agent designed to plan tasks and verify its work. The product reinforces ServiceNow’s strategy of embedding governed, enterprise-grade AI into its workflow platform, potentially supporting product adoption and customer spending. ServiceNow and Nvidia Launch Arc
• Positive Sentiment: ServiceNow was selected as a preferred idea on CNBC’s “Final Trades,” while Polen Capital highlighted the company’s AI opportunity and revenue-growth prospects. These endorsements add to favorable market sentiment, although they are not substitutes for operating results. ServiceNow on CNBC’s Final Trades
• Neutral Sentiment: Investors are focused on ServiceNow’s upcoming third-quarter earnings, with analysts examining subscription growth, current remaining performance obligations, margins and other operating metrics beyond revenue and EPS. Results and guidance could determine whether the recent rally continues. ServiceNow Q3 Performance Estimates
• Negative Sentiment: Comparisons with TD SYNNEX frame ServiceNow as a less obvious value investment. NOW’s premium valuation means the stock remains sensitive to an earnings or guidance disappointment, despite its strong growth prospects. SNX vs. NOW Value Comparison

Analysts Set New Price Targets

A number of brokerages have issued reports on NOW. Yorkville Ives started coverage on shares of ServiceNow in a research report on Monday, October 5th. They set an “outperform” rating and a $160.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $165.00 target price (up from $140.00) on shares of ServiceNow in a report on Tuesday, October 13th. Guggenheim reiterated a “buy” rating and issued a $175.00 price target (up from $125.00) on shares of ServiceNow in a research report on Friday. UBS Group set a $165.00 price target on ServiceNow in a research note on Monday, October 19th. Finally, Barclays reiterated an “overweight” rating and issued a $160.00 price target (up from $134.00) on shares of ServiceNow in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $155.10.

Insider Activity

In related news, Director Paul Chamberlain sold 2,700 shares of ServiceNow stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the sale, the director directly owned 43,990 shares of the company’s stock, valued at approximately $5,960,645. The trade was a 5.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Fipps sold 2,034 shares of the company’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 transaction of $300,767.58. Following the transaction, the insider owned 18,305 shares of the company’s stock, valued at approximately $2,706,760.35. This represents a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 14,081 shares of company stock worth $1,937,904. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock opened at $159.29 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock has a market cap of $164.71 billion, a PE ratio of 99.56, a P/E/G ratio of 2.92 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $192.97. The business’s 50-day moving average price is $137.87 and its two-hundred day moving average price is $115.39.

ServiceNow (NYSE:NOW) last posted its earnings results 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. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $0.81 earnings per share. As a group, analysts expect that ServiceNow, Inc. will post 2.22 earnings per share for the current fiscal year.

ServiceNow Profile

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.