OneAscent Financial Services LLC Acquires New Shares in ServiceNow, Inc. $NOW

OneAscent Financial Services LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,293 shares of the information technology services provider’s stock, valued at approximately $525,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Millstone Evans Group LLC lifted its stake in shares of ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in shares of ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Blueline Advisors LLC acquired a new stake in shares of ServiceNow during the 4th quarter worth about $25,000. Measured Wealth Private Client Group LLC raised its holdings in ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 140 shares during the period. Finally, Wealth Watch Advisors INC lifted its position in ServiceNow by 432.3% in the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 134 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target to $150 from $130 and maintained a Buy rating. The firm said ServiceNow is among the software companies best positioned to monetize AI, helping support a broader software-sector rally. ServiceNow, Adobe, Workday stocks get BofA PT boost
• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production-scale deployments. The agreement could increase adoption of ServiceNow’s AI and automation tools and reinforce its positioning as an enterprise “AI control tower.” Tech Mahindra and ServiceNow Expand Partnership
• Positive Sentiment: Several market commentaries described NOW as an AI beneficiary, citing its recurring-revenue model, enterprise workflow position, and potential for continued earnings growth. Some analysts see further upside if ServiceNow delivers a strong third quarter. ServiceNow: A Clear AI Winner
• Neutral Sentiment: Television commentators included ServiceNow among their “final trades,” while broader coverage characterized the recent move as part of a rebound in beaten-down software stocks as fears of AI-driven disruption ease. CNBC Final Trades
• Negative Sentiment: Competitive and valuation risks remain. A Forbes article highlighted an AI startup, Serval, that aims to challenge ServiceNow in enterprise automation, while the stock’s elevated valuation leaves it sensitive to slower growth or disappointing AI monetization. Serval Wants To Replace ServiceNow
• Negative Sentiment: Separate coverage reported trading pressure following insider selling, which may raise short-term concerns about executive confidence, although TD Cowen reiterated its Buy rating. ServiceNow Trading Down Following Insider Selling

Wall Street Analyst Weigh In

Several brokerages have weighed in on NOW. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ServiceNow in a research note on Monday, August 3rd. Citic Securities reduced their price target on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. JPMorgan Chase & Co. upped their price objective on shares of ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings cut shares of ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, July 10th. Finally, Argus dropped their target price on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.24.

ServiceNow Stock Performance

NYSE NOW opened at $129.73 on Friday. The company has a market cap of $134.14 billion, a P/E ratio of 81.08, a P/E/G ratio of 2.24 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a 50-day moving average of $108.36 and a two-hundred day moving average of $105.58. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $194.73.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. As a group, analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current year.

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the director directly owned 46,690 shares of the company’s stock, valued at $5,864,264. This represents a 3.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.34% of the company’s stock.

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.