25,501 Shares of ServiceNow, Inc. $NOW Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 25,501 shares of the information technology services provider’s stock, valued at approximately $3,417,000.

Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of ServiceNow in the second quarter worth about $9,536,615,000. State Street Corp raised its position in ServiceNow by 2.0% during the second quarter. State Street Corp now owns 49,038,218 shares of the information technology services provider’s stock valued at $4,868,514,000 after purchasing an additional 979,726 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of ServiceNow by 16.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,638,071 shares of the information technology services provider’s stock valued at $1,651,828,000 after purchasing an additional 2,362,606 shares during the last quarter. Amundi raised its stake in shares of ServiceNow by 60.9% during the first quarter. Amundi now owns 11,479,098 shares of the information technology services provider’s stock worth $1,200,140,000 after acquiring an additional 4,346,722 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in ServiceNow by 6.5% in the first quarter. Bank of New York Mellon Corp now owns 8,526,931 shares of the information technology services provider’s stock worth $891,491,000 after purchasing an additional 518,263 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 2.4%

NOW stock opened at $156.85 on Friday. The business has a 50 day moving average of $137.17 and a 200 day moving average of $115.08. The firm has a market cap of $162.18 billion, a PE ratio of 98.03, a price-to-earnings-growth ratio of 2.81 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $192.97. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $3.93 billion. During the same quarter in the previous year, the firm earned $0.81 EPS. ServiceNow’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, research analysts forecast that ServiceNow, Inc. will post 2.22 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 7,847 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the sale, the insider directly owned 30,042 shares of the company’s stock, valued at $4,145,796. This trade represents a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 2,034 shares of ServiceNow 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 sale, the insider owned 18,305 shares of the company’s stock, valued at $2,706,760.35. The trade was a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 14,081 shares of company stock worth $1,937,904. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Oppenheimer reiterated an “outperform” rating and set a $165.00 price target (up from $140.00) on shares of ServiceNow in a report on Tuesday, October 13th. Guggenheim raised shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Wednesday, July 1st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $266.00 price objective on shares of ServiceNow in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Finally, Piper Sandler raised their target price on ServiceNow from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $153.90.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: AI partnership expands product reach: ServiceNow and NVIDIA launched Arc, an enterprise AI agent designed to plan tasks and verify its work. The product reinforces ServiceNow’s positioning as an AI orchestration and workflow platform. ServiceNow and Nvidia launch Arc
• Positive Sentiment: AI demand is driving investor optimism: ServiceNow’s AI-related contract value reportedly exceeded $1 billion, while the stock has gained substantially over the past three months. The company’s shift toward usage-based “Assists” could increase revenue potential as customers deploy more AI agents. ServiceNow rallies as AI contract value tops $1 billion
• Positive Sentiment: Analyst support remains strong: Multiple firms raised their price targets ahead of earnings, including a Street-high $266 target from Bernstein. Polen Capital also highlighted ServiceNow as a company positioned to benefit from AI rather than suffer disruption. ServiceNow earnings outlook
• Neutral Sentiment: Earnings are the next catalyst: Investors are focused on the October 28 quarterly report. ServiceNow previously delivered revenue growth of 24% and an earnings beat, but current previews anticipate a possible single-digit earnings decline, raising the bar for another positive surprise. ServiceNow quarterly earnings preview
• Neutral Sentiment: Defense exposure received visibility: ServiceNow’s global defense and national security executive discussed the company’s activities at the AUSA 2026 conference, though the report did not disclose a material contract or financial impact. AUSA ServiceNow defense interview
• Negative Sentiment: Cash-flow and valuation concerns remain: Commentary warns that ServiceNow may need stronger cash flow to fund its AI expansion. With the shares trading at a high earnings multiple after a sharp run-up, any slowdown or weaker outlook could trigger profit-taking. ServiceNow cash-flow concerns
• Negative Sentiment: One notable bearish signal: Zacks Research downgraded ServiceNow from “hold” to “strong sell,” adding caution despite the broader analyst optimism. Zacks Research ratings

ServiceNow Company 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.