Saudi Central Bank Acquires 34,928 Shares of ServiceNow, Inc. $NOW

Saudi Central Bank grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 91.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 73,220 shares of the information technology services provider’s stock after buying an additional 34,928 shares during the quarter. Saudi Central Bank’s holdings in ServiceNow were worth $7,269,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Angeles Wealth Management LLC increased its position in ServiceNow by 9.9% in the 2nd quarter. Angeles Wealth Management LLC now owns 15,411 shares of the information technology services provider’s stock valued at $1,530,000 after acquiring an additional 1,393 shares in the last quarter. Riverview Capital Advisers LLC lifted its position in shares of ServiceNow by 90.8% during the second quarter. Riverview Capital Advisers LLC now owns 73,571 shares of the information technology services provider’s stock worth $7,304,000 after purchasing an additional 35,012 shares in the last quarter. Compass Financial Management LLC acquired a new position in shares of ServiceNow during the second quarter worth approximately $321,000. AlphaGrep UK Ltd bought a new stake in shares of ServiceNow during the second quarter valued at approximately $709,000. Finally, Highland Investment Advisors LLC bought a new stake in shares of ServiceNow during the second quarter valued at approximately $63,000. 87.18% of the stock is owned by institutional investors.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow was selected as a “final trade” on CNBC’s Halftime Report, with the bullish case citing analyst support and the company’s opportunity to expand its AI offerings. Nvidia, ServiceNow, Spotify And A Financial Stock On CNBC’s Final Trades
• Positive Sentiment: ServiceNow gained alongside enterprise AI software peers as investor concerns that AI could weaken traditional seat-based software revenue eased. The broader sector rebound provided a favorable trading backdrop for NOW. Palantir Rallies 7% as PwC Alliance Counters Michael Burry Bear Case
• Positive Sentiment: Partner adoption is strengthening ServiceNow’s AI-platform narrative. Pricefx’s Deal Optimization App embeds AI pricing, negotiation, and recommendation tools into ServiceNow workflows, suggesting the platform is becoming an important distribution channel for enterprise AI applications. Is ServiceNow Quietly Becoming the Default AI Commerce Platform for Enterprise Partners?
• Neutral Sentiment: Analysts and investors remain selective within the software group. Although the sector has rebounded, commentary emphasizes that strong performance varies widely among companies, increasing scrutiny of ServiceNow’s valuation and growth durability. Software Stocks Are Back. 2 Winners, 2 Losers—and Salesforce
• Negative Sentiment: Reports of insider selling are weighing on sentiment and may be prompting investors to lock in gains after ServiceNow’s recent rally. Separate coverage also questioned whether the stock’s rapid advance has outpaced near-term fundamentals, making profit-taking a risk. ServiceNow Stock Price Down Following Insider Selling ServiceNow Just Rallied 28% in a Month: Take Profits, or Buy More?

Insider Transactions at ServiceNow

In other news, insider Jacqueline Canney sold 7,847 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $138.00, for a total value of $1,082,886.00. Following the transaction, the insider directly owned 30,042 shares in the company, valued at $4,145,796. This trade represents a 20.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of ServiceNow 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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,081 shares of company stock worth $1,937,904 in the last three months. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group set a $248.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ServiceNow in a report on Monday, August 3rd. Benchmark reiterated a “buy” rating on shares of ServiceNow in a research report on Friday, July 17th. Robert W. Baird lifted their target price on ServiceNow from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, BMO Capital Markets boosted their target price on ServiceNow from $115.00 to $118.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.24.

ServiceNow Trading Down 2.9%

Shares of NYSE NOW opened at $141.31 on Friday. The company’s 50 day simple moving average is $117.21 and its 200 day simple moving average is $107.95. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The firm has a market capitalization of $146.11 billion, a P/E ratio of 88.32, a P/E/G ratio of 2.57 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

ServiceNow (NYSE:NOW) last released its 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. The firm had revenue of $3.99 billion during 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 quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. On average, analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current year.

ServiceNow Company 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.