Mmbg Investment Advisors CO. Invests $2.25 Million in ServiceNow, Inc. $NOW

Mmbg Investment Advisors CO. purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 22,670 shares of the information technology services provider’s stock, valued at approximately $2,251,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. West Family Investments Inc. bought a new position in ServiceNow in the 2nd quarter worth about $417,000. Knuff & Co LLC purchased a new stake in shares of ServiceNow in the second quarter worth about $5,954,000. Empirical Asset Management LLC purchased a new stake in shares of ServiceNow in the second quarter worth about $346,000. Great Lakes Advisors LLC bought a new position in shares of ServiceNow in the second quarter valued at approximately $1,021,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in ServiceNow during the second quarter valued at approximately $131,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NOW shares. Piper Sandler reiterated an “overweight” rating and issued a $140.00 target price on shares of ServiceNow in a research note on Thursday, July 23rd. Citigroup reaffirmed a “market outperform” rating on shares of ServiceNow in a report on Thursday, July 23rd. Wolfe Research set a $125.00 price objective on ServiceNow in a research note on Thursday, April 23rd. Raymond James Financial reduced their target price on ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Finally, Guggenheim upgraded ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.24.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target. BofA lifted its target from $130 to $150 and upgraded or reaffirmed the stock with a “Buy” rating, implying substantial upside from the referenced market level. Benzinga
• Positive Sentiment: Broader software-sector fears eased. Market commentary indicated that investors are moving away from the view that AI will make traditional enterprise software obsolete. This helped support ServiceNow and other major software stocks after a prolonged selloff. ServiceNow Leads a Software Rally
• Positive Sentiment: The Armis cybersecurity acquisition strengthens ServiceNow’s growth narrative. Coverage of the approximately $8 billion deal highlights its potential to expand ServiceNow’s AI-powered security platform and add preventive cyber-defense capabilities. ServiceNow Armis Acquisition
• Positive Sentiment: ServiceNow received additional bullish commentary. TD Cowen reiterated its “Buy” rating, while other analysts and market commentators pointed to the company’s recurring revenue, roughly 20%-plus growth profile and opportunities to monetize AI workflows. Why ServiceNow Stock Rallied
• Neutral Sentiment: New partnership expands the AI platform ecosystem. Tribal announced “Tribal for ServiceNow,” allowing enterprise teams to build and deploy AI agents within ServiceNow environments. The partnership may improve platform adoption, although its near-term financial impact is unclear. Tribal Partners with ServiceNow
• Negative Sentiment: AI-related business-model risks remain. Critics warn that AI could pressure per-seat software pricing if companies accomplish more work with fewer employees, potentially challenging long-term revenue growth. AI Risks to ServiceNow’s Business Model
• Negative Sentiment: Insider selling and acquisition execution risks remain overhangs. A director sold 1,500 shares under a pre-arranged Rule 10b5-1 plan, limiting its significance, while the Armis transaction creates integration and spending risks. ServiceNow Director Share Sale

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total value of $188,400.00. Following the completion of the sale, the director owned 46,690 shares of the company’s stock, valued at $5,864,264. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by insiders.

ServiceNow Stock Up 6.5%

NOW opened at $127.22 on Thursday. The business’s fifty day simple moving average is $107.82 and its 200 day simple moving average is $105.49. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock has a market cap of $131.54 billion, a PE ratio of 79.51, a P/E/G ratio of 2.10 and a beta of 0.94.

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 the consensus estimate 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 return on equity of 16.45% and a net margin of 11.34%.The company’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. As a group, research analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

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.