Meeder Advisory Services Inc. Acquires Shares of 29,022 ServiceNow, Inc. $NOW

Meeder Advisory Services Inc. acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 29,022 shares of the information technology services provider’s stock, valued at approximately $2,881,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOW. Wealth Watch Advisors INC acquired a new stake in ServiceNow in the third quarter valued at $29,000. Kelleher Financial Advisors acquired a new stake in shares of ServiceNow during the 3rd quarter worth about $50,000. Pin Oak Investment Advisors Inc. raised its position in shares of ServiceNow by 20.7% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock worth $123,000 after acquiring an additional 23 shares in the last quarter. Jupiter Wealth Management LLC purchased a new stake in ServiceNow during the second quarter worth approximately $154,000. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NOW shares. Bank of America initiated coverage on shares of ServiceNow in a report on Monday, May 18th. They set a “buy” rating and a $130.00 price objective on the stock. KeyCorp reiterated an “underweight” rating on shares of ServiceNow in a research note on Tuesday, July 21st. UBS Group set a $248.00 price target on shares of ServiceNow in a research report on Thursday, July 23rd. Barclays reaffirmed an “overweight” rating and set a $134.00 price objective (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $248.00 target price (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.76.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New ServiceNow AI-platform partnership. Tribal launched Tribal for ServiceNow, allowing enterprise teams—not only developers—to build and personalize AI agents within the ServiceNow environment. The partnership could improve platform adoption and reinforce ServiceNow’s position in enterprise workflow automation. Tribal Partners with ServiceNow
• Positive Sentiment: AI security strategy is expanding. ServiceNow’s planned $7.75 billion acquisition of Armis would add cybersecurity capabilities to its AI-powered platform and broaden its addressable market. Analysts also point to security and AI workflow opportunities as potential drivers of sustained recurring-revenue growth. ServiceNow Is Spending $7.75 Billion on AI Security
• Positive Sentiment: Analyst remains bullish. TD Cowen reaffirmed a Buy rating and a $140 price target. ServiceNow’s latest reported quarter showed revenue growth of approximately 24% year over year, supporting the case that AI is adding to—not replacing—existing platform demand. ServiceNow Earns Buy Rating
• Neutral Sentiment: Insider sale was modest and scheduled. Director Paul Edward Chamberlain sold 1,500 shares for roughly $188,400 under a pre-arranged Rule 10b5-1 plan. The transaction reduced his position by 3.11%, but provides limited insight into current management sentiment. SEC Insider Filing
• Negative Sentiment: Valuation and business-model risks remain. Commentators say NOW still looks expensive despite its steep prior decline. Parnassus CIO Todd Ahlsten also warned that AI could pressure per-seat software pricing if companies accomplish more with fewer employees. Salesforce and ServiceNow Business Model Risk
• Negative Sentiment: Software-sector rotation is a headwind. Investors have been favoring semiconductor and AI-hardware stocks over SaaS names, contributing to weakness across software. The Armis deal also creates integration and execution risks.

ServiceNow Price Performance

Shares of NOW opened at $119.57 on Wednesday. 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, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The firm has a 50-day simple moving average of $107.40 and a 200-day simple moving average of $105.41. The company has a market capitalization of $123.63 billion, a price-to-earnings ratio of 74.73, a price-to-earnings-growth ratio of 2.18 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted 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 return on equity of 16.45% and a net margin of 11.34%.The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the business earned $0.81 EPS. The firm’s revenue was up 24.0% compared to the same quarter last year. On average, equities research analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by company insiders.

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.