Pallas Capital Advisors LLC Invests $4.83 Million in ServiceNow, Inc. $NOW

Pallas Capital Advisors LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the second quarter, HoldingsChannel reports. The firm purchased 48,627 shares of the information technology services provider’s stock, valued at approximately $4,828,000.

Several other institutional investors have also made changes to their positions in the stock. Performance Wealth Partners LLC acquired a new stake in ServiceNow during the second quarter worth approximately $210,000. Deutsche Bank AG bought a new position in ServiceNow during the 2nd quarter worth $595,157,000. Perigon Wealth Management LLC acquired a new position in ServiceNow in the 2nd quarter valued at $5,424,000. Commerzbank Aktiengesellschaft FI acquired a new position in ServiceNow in the 2nd quarter valued at $12,483,000. Finally, Pursue Wealth Partners LLC bought a new stake in shares of ServiceNow during the 2nd quarter valued at $2,860,000. 87.18% of the stock is currently owned by institutional investors.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Cybersecurity expansion supports long-term growth. ServiceNow’s planned $7.75 billion acquisition of Armis would broaden its AI-powered security platform and strengthen its preventive cyber-defense offerings. The appointment of former Armis executive Simon Mouyal as chief marketing officer also signals an increased focus on security and go-to-market execution. ServiceNow Is Spending $7.75 Billion On AI Security
• Positive Sentiment: Analyst support remains firm. TD Cowen reaffirmed its Buy rating and assigned a $140 price target, implying meaningful upside from the referenced market level. Analysts cited ServiceNow’s expanding security platform, AI workflow opportunities and recurring-revenue model. ServiceNow Earns Buy Rating
• Positive Sentiment: Fundamentals and AI momentum continue to attract dip buyers. Recent commentary points to roughly 24% year-over-year revenue growth and a substantial rebound from the stock’s lows. Some investors view support near the 200-day moving average as an opportunity if the company’s growth remains intact. NOW Stock Has Rebounded Over 54%
• Neutral Sentiment: Institutional positioning is mixed. JPMorgan added a large position, while T. Rowe Price, Wellington Management and several other firms reduced holdings. The split suggests continued disagreement about valuation and the pace of the recovery.
• Neutral Sentiment: A director sold shares under a pre-arranged Rule 10b5-1 plan. Paul Edward Chamberlain sold 1,500 shares worth approximately $188,400, reducing his holdings by 3.11%. Because the transaction was scheduled in advance, it provides limited evidence of a change in the company’s outlook. SEC Insider Filing
• Negative Sentiment: Valuation remains a major concern. Even after a reported 30.5% decline over the past year, commentary argues that ServiceNow still does not look inexpensive, leaving the stock vulnerable to further pressure if growth expectations soften. ServiceNow Stock Still Looks Expensive
• Negative Sentiment: Broad software-sector weakness is weighing on the shares. Investors have been rotating toward semiconductor and AI-hardware stocks, pressuring software names including ServiceNow, Adobe and Intuit. The sizable Armis acquisition also introduces execution, integration and spending risks.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the completion of the transaction, the director directly owned 46,690 shares in the company, valued at approximately $5,864,264. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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

NOW has been the topic of several analyst reports. Morgan Stanley set a $180.00 target price on ServiceNow in a report on Tuesday, July 21st. Evercore reaffirmed an “outperform” rating and issued a $160.00 price target on shares of ServiceNow in a research note on Thursday, July 23rd. Mizuho cut their price objective on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Capital One Financial increased their price objective on shares of ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, TD Cowen reissued a “buy” rating and issued a $140.00 target price on shares of ServiceNow in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $143.76.

ServiceNow Trading Down 5.1%

Shares of ServiceNow stock opened at $117.70 on Tuesday. The firm’s 50 day moving average is $107.15 and its 200 day moving average is $105.49. The firm has a market capitalization of $121.70 billion, a PE ratio of 73.56, a price-to-earnings-growth ratio of 2.18 and a beta of 0.94. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $194.73. 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 (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating 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 business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The firm’s revenue was up 24.0% compared to the same quarter last year. Equities research analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

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.