28,645 Shares in ServiceNow, Inc. $NOW Bought by George Kaiser Family Foundation

George Kaiser Family Foundation acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, HoldingsChannel reports. The firm acquired 28,645 shares of the information technology services provider’s stock, valued at approximately $2,844,000. ServiceNow comprises approximately 0.3% of George Kaiser Family Foundation’s portfolio, making the stock its 12th largest holding.

A number of other hedge funds have also recently bought and sold shares of the company. Westpac Banking Corp bought a new stake in shares of ServiceNow in the 2nd quarter worth $731,000. Iyo Bank Ltd. bought a new position in shares of ServiceNow during the second quarter valued at about $6,261,000. Sumitomo Life Insurance Co. purchased a new position in ServiceNow during the second quarter worth about $2,802,000. Long Corridor Asset Management Ltd purchased a new position in ServiceNow during the second quarter worth about $6,453,000. Finally, William Blair Investment Management LLC bought a new stake in ServiceNow in the 2nd quarter worth about $154,002,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production. The “Client Zero” approach combines ServiceNow’s AI platform with Tech Mahindra’s industry expertise, potentially increasing adoption, automation revenue and measurable customer outcomes. Tech Mahindra and ServiceNow Expand Partnership to Deliver Production-Ready Enterprise AI at Scale
• Positive Sentiment: Bank of America raised its ServiceNow price target to $150, citing the company’s positioning to monetize artificial intelligence as concerns about AI disruption to traditional software fade. The move contributed to broader bullish sentiment across software stocks. Bank of America Increases ServiceNow Price Target to $150
• Positive Sentiment: ServiceNow has gained substantially since its latest earnings report, which beat estimates on both adjusted earnings and revenue. Quarterly revenue increased 24% year over year, reinforcing the view that the company remains a leading enterprise AI and workflow platform. ServiceNow Up 41.1% Since Last Earnings Report
• Positive Sentiment: ServiceNow was also selected as a CNBC “Final Trade,” providing additional visibility and signaling continued support from some professional investors. Final Trades: ServiceNow, Vertex and Uber
• Neutral Sentiment: Despite the favorable company news, midday AI buying has been concentrated in government-facing companies such as Palantir and BigBear.ai rather than enterprise software, limiting near-term upside for NOW. How Are Traders Picking the Software Winners?
• Negative Sentiment: Investors continue to monitor competitive threats from newer AI-native automation platforms, including Serval, as well as ServiceNow’s premium valuation. Those concerns may encourage profit-taking after the stock’s sharp post-earnings advance. Serval Wants To Replace ServiceNow With AI That Builds Enterprise Automation

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total value of $188,400.00. Following the completion of the sale, the director directly owned 46,690 shares of the company’s stock, valued at $5,864,264. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on NOW. Royal Bank Of Canada reiterated an “outperform” rating and issued a $130.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. KeyCorp reaffirmed an “underweight” rating on shares of ServiceNow in a report on Tuesday, July 21st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ServiceNow in a research report on Monday, August 3rd. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Barclays reissued an “overweight” rating and issued a $134.00 price objective (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.24.

ServiceNow Stock Down 0.8%

ServiceNow stock opened at $128.73 on Friday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73. The firm has a 50 day moving average price of $108.88 and a 200-day moving average price of $105.74. The company has a market capitalization of $133.11 billion, a P/E ratio of 80.46, a P/E/G ratio of 2.26 and a beta of 0.94. 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 (NYSE:NOW) last posted its quarterly 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. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. ServiceNow’s revenue was up 24.0% on a year-over-year basis. As a group, equities analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current 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.