Formula Growth Ltd. Buys New Holdings in ServiceNow, Inc. $NOW

Formula Growth Ltd. purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,000 shares of the information technology services provider’s stock, valued at approximately $1,390,000.

Other institutional investors also recently bought and sold shares of the company. Wealth Watch Advisors INC acquired a new stake in shares of ServiceNow in the third quarter worth $29,000. Kelleher Financial Advisors purchased a new position in shares of ServiceNow during the third quarter worth $50,000. Pin Oak Investment Advisors Inc. lifted its position in ServiceNow by 20.7% during the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 23 shares during the period. Jupiter Wealth Management LLC acquired a new position in ServiceNow during the second quarter valued at $154,000. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NOW. Citizens Jmp reaffirmed a “market outperform” rating and set a $157.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Cantor Fitzgerald boosted their price objective on ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Weiss Ratings upgraded ServiceNow from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 20th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $175.00 target price (up from $160.00) on shares of ServiceNow in a report on Wednesday, August 12th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $248.00 target price (up from $236.00) on shares of ServiceNow in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.24.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated 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 transaction, the director owned 46,690 shares of the company’s stock, valued at approximately $5,864,264. This represents a 3.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.34% of the company’s stock.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Salesforce earnings lifted the sector. Salesforce’s strong quarterly results, raised guidance and “Claudeforce” AI announcement eased fears of a broad “SaaS-pocalypse.” The read-through suggests businesses are adding AI tools to existing software platforms rather than replacing them, benefiting ServiceNow. Why ServiceNow Rallied Today
• Positive Sentiment: Enterprise AI momentum remains a key catalyst. Reports highlighted ServiceNow’s more than $1 billion in AI annual contract value, expanding customer adoption and the potential for its AI Control Tower and agentic-AI products to create additional revenue streams. Agentic AI Adoption Boosts NOW’s Growth Prospects Against MSFT & CRM
• Positive Sentiment: Technical and analyst sentiment improved. ServiceNow cleared an early buy point as disruption fears faded, while coverage cited positive price-target actions and a potential sector re-rating. ServiceNow, IBD Stock Of The Day
• Positive Sentiment: Platform integrations support monetization. Pricefx announced an integration that brings AI-powered deal optimization and sales guidance to ServiceNow workflows, reinforcing the platform’s ecosystem and enterprise-use case. Pricefx Announces Integration with ServiceNow

ServiceNow Stock Up 10.1%

NOW opened at $138.50 on Friday. The company has a fifty day moving average of $111.34 and a two-hundred day moving average of $106.33. The stock has a market capitalization of $143.20 billion, a price-to-earnings ratio of 86.56, a PEG ratio of 2.21 and a beta of 0.94. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

ServiceNow (NYSE:NOW) last posted its 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 net margin of 11.34% and a return on equity of 16.45%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period in the prior year, the company posted $0.81 EPS. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. On average, research analysts expect that ServiceNow, Inc. will post 2.24 earnings per share 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.