ServiceNow, Inc. $NOW Stock Purchased by Kestra Advisory Services LLC

Kestra Advisory Services LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 38.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,269 shares of the information technology services provider’s stock after buying an additional 35,484 shares during the period. Kestra Advisory Services LLC’s holdings in ServiceNow were worth $17,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOW. A. D. Beadell Investment Counsel Inc. boosted its holdings in ServiceNow by 2.9% during the 2nd quarter. A. D. Beadell Investment Counsel Inc. now owns 2,818 shares of the information technology services provider’s stock valued at $279,000 after acquiring an additional 80 shares during the period. DUTCH ASSET Corp increased its stake in ServiceNow by 0.5% in the 3rd quarter. DUTCH ASSET Corp now owns 16,331 shares of the information technology services provider’s stock worth $2,189,000 after purchasing an additional 82 shares during the period. Atwood & Palmer Inc. increased its stake in ServiceNow by 20.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 600 shares of the information technology services provider’s stock worth $60,000 after purchasing an additional 100 shares during the period. Diligent Investors LLC lifted its position in ServiceNow by 4.1% in the third quarter. Diligent Investors LLC now owns 2,560 shares of the information technology services provider’s stock valued at $343,000 after purchasing an additional 100 shares during the last quarter. Finally, Signature Wealth Management Partners LLC lifted its position in ServiceNow by 3.3% in the third quarter. Signature Wealth Management Partners LLC now owns 3,281 shares of the information technology services provider’s stock valued at $440,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 7,847 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the completion of the transaction, the insider owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. This trade represents a 20.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 that occurred on Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the transaction, 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 disclosure for this sale is available in the SEC filing. Insiders have sold 14,081 shares of company stock valued at $1,937,904 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $101.91 on Monday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $175.00. The stock has a market cap of $105.78 billion, a PE ratio of 73.32, a price-to-earnings-growth ratio of 1.99 and a beta of 1.00. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.42. The company’s fifty day moving average price is $136.31 and its 200-day moving average price is $114.81.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.09 billion. ServiceNow had a return on equity of 15.17% and a net margin of 9.36%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.82 earnings per share. On average, equities analysts expect that ServiceNow, Inc. will post 2.12 EPS for the current fiscal year.

Analyst Ratings Changes

NOW has been the topic of several recent analyst reports. DA Davidson set a $170.00 target price on shares of ServiceNow and gave the stock a “buy” rating in a report on Monday, July 20th. Evercore reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Tuesday, October 13th. Stifel Nicolaus set a $160.00 price target on shares of ServiceNow and gave the company a “buy” rating in a report on Tuesday, October 6th. Truist Financial set a $150.00 price target on shares of ServiceNow and gave the company a “buy” rating in a research report on Thursday, October 29th. Finally, Cantor Fitzgerald increased their price target on shares of ServiceNow from $174.00 to $201.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $154.50.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is broadening its agentic-AI partnership with LTM, aiming to take AI workflows to more enterprise customers. The company also highlighted deployments and selections by customers including LTM, KORE and Keysight, supporting its case that businesses are adopting its AI platform. ServiceNow expands enterprise AI partnerships
• Positive Sentiment: ServiceNow raised its AI contract-value target to $1.7 billion, and its CFO described fears that AI will disrupt the company’s business as unfounded. These points may help reassure investors about AI’s potential as a growth driver. ServiceNow Q3 earnings call highlights
• Neutral Sentiment: The NBA extended its partnership with ServiceNow, adopting EmployeeWorks for employee self-service and workplace requests. The deal adds a customer use case, though its near-term financial impact was not specified. NBA and ServiceNow extend partnership
• Negative Sentiment: Investors are focused on the outlook: despite a third-quarter revenue beat, ServiceNow’s fourth-quarter current remaining performance obligations growth forecast of 18.5% disappointed the market and prompted concerns about slowing backlog growth. The stock has fallen sharply since the report. ServiceNow outlook and AI concerns
• Negative Sentiment: ServiceNow is undertaking another round of layoffs, while third-quarter severance costs rose to $87 million from $24 million a year earlier. Separate reports that the board approved $127 million in retention awards as the company cuts jobs may also draw scrutiny over costs and priorities. ServiceNow layoffs and severance costs
• Negative Sentiment: ETFs were net sellers of $29.5 million in ServiceNow shares on Wednesday, adding a modest near-term headwind. ETF selling of ServiceNow shares

ServiceNow Profile

ServiceNow, Inc provides cloud-based software that helps organizations manage digital workflows and automate business processes. Founded in 2004 by Fred Luddy, the company began with a focus on IT service management and has expanded its platform to support a range of enterprise operations.

Its products include tools for IT service and operations management, customer service, human resources, security, and application development. ServiceNow also offers artificial intelligence capabilities, including tools designed to help organizations automate tasks and find information across workflows.

ServiceNow serves businesses and public-sector organizations around the world.