9,043 ServiceNow, Inc. $NOW Shares Acquired by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 11.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 89,823 shares of the information technology services provider’s stock after acquiring an additional 9,043 shares during the period. Prime Capital Investment Advisors LLC’s holdings in ServiceNow were worth $12,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the business. Cornerstone Financial Management LLC lifted its stake in shares of ServiceNow by 72.8% in the 2nd quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 107 shares during the last quarter. CrossGen Wealth LLC bought a new stake in ServiceNow during the 1st quarter valued at $29,000. Marquette Asset Management LLC boosted its holdings in shares of ServiceNow by 75.0% in the 2nd quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 129 shares in the last quarter. Kilter Group LLC purchased a new stake in ServiceNow during the second quarter valued at approximately $31,000. Finally, Solstein Capital LLC acquired a new stake in shares of ServiceNow in the 2nd quarter worth $35,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of ServiceNow from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. CLSA assumed coverage on shares of ServiceNow in a research note on Monday, July 20th. They issued an “underperform” rating and a $72.00 target price on the stock. Needham & Company LLC lifted their target price on shares of ServiceNow from $115.00 to $155.00 and gave the company a “buy” rating in a report on Friday, September 11th. Guggenheim raised ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Wednesday, July 1st. Finally, Royal Bank Of Canada raised their target price on ServiceNow from $130.00 to $176.00 and gave the stock an “outperform” rating in a research report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $152.71.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Analyst upgrades and buy recommendations: BMO Capital Markets named ServiceNow a new Top Pick, while a separate Wall Street analysis argued the stock could have as much as 70% upside because the company’s AI business has reached an important milestone. ServiceNow was also selected on CNBC’s “Final Trades.” These 2 software stocks are new Top Picks at BMO ServiceNow Fell 20% Over a Year But This Wall Street Analyst Predicts 70% Gains From Here
• Positive Sentiment: AI and sticky-demand positioning: ServiceNow is viewed as a beneficiary of enterprise AI adoption rather than a company threatened by it. Analysts cited the difficulty of replacing its workflow platform and expect upcoming earnings reports to show greater AI monetization. 4 Stocks With Demand So Sticky That the AI Sell-Off Barely Touched Them at All
• Positive Sentiment: Expanded healthcare partnership: Simplify Alpha is expanding its partnership with ServiceNow to develop payer-specific AI and workflow solutions for health plans. The deal could broaden ServiceNow’s use cases in claims and other healthcare operations. Simplify Alpha Expands Partnership with ServiceNow to Build Payer-Specific Solutions
• Neutral Sentiment: Growth sustainability remains a question: ServiceNow has outperformed significantly, but investors are debating whether it can maintain strong growth at its current scale and valuation. A comparison with Workday showed ServiceNow leading in revenue growth across recent quarters, offering support for the bullish case while highlighting elevated expectations. Can ServiceNow Keep Growing at This Size?
• Negative Sentiment: Layoffs create a mixed signal: ServiceNow reportedly cut additional sales jobs in San Diego, marking the company’s third round of layoffs there this year. The reductions could improve efficiency, but may also raise concerns about sales execution and near-term growth momentum.

Insider Buying and Selling

In related news, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total value of $365,850.00. Following the transaction, the director directly owned 43,990 shares of the company’s stock, valued at approximately $5,960,645. This trade represents a 5.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Fipps sold 2,034 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the completion of the transaction, the insider owned 18,305 shares in the company, valued at approximately $2,706,760.35. This trade represents a 10.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 14,081 shares of company stock worth $1,937,904. 0.34% of the stock is owned by insiders.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $4.26 during midday trading on Tuesday, hitting $149.62. The stock had a trading volume of 5,984,389 shares, compared to its average volume of 21,456,287. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average price of $135.56 and a two-hundred day moving average price of $114.01. The company has a market capitalization of $154.71 billion, a PE ratio of 93.47, a P/E/G ratio of 2.61 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $192.97.

ServiceNow (NYSE:NOW) last issued its earnings results 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 company 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 was up 24.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. As a group, equities analysts predict 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.