Royal Fund Management LLC Buys 15,627 Shares of ServiceNow, Inc. $NOW

Royal Fund Management LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,627 shares of the information technology services provider’s stock, valued at approximately $2,094,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of Nova Scotia increased its stake in ServiceNow by 53.3% during the 1st quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock worth $106,436,000 after acquiring an additional 353,749 shares during the period. Sapient Capital LLC increased its position in ServiceNow by 266.0% during the 2nd quarter. Sapient Capital LLC now owns 77,661 shares of the information technology services provider’s stock worth $7,710,000 after purchasing an additional 56,444 shares in the last quarter. Meeder Advisory Services Inc. acquired a new position in shares of ServiceNow during the second quarter worth $2,881,000. Vestor Capital LLC increased its holdings in ServiceNow by 38,987.2% in the 1st quarter. Vestor Capital LLC now owns 122,343 shares of the information technology services provider’s stock worth $12,791,000 after purchasing an additional 122,030 shares in the last quarter. Finally, Cardano Risk Management B.V. raised its position in ServiceNow by 6.9% in the second quarter. Cardano Risk Management B.V. now owns 484,785 shares of the information technology services provider’s stock valued at $48,129,000 after purchasing an additional 31,119 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of ServiceNow from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. BMO Capital Markets upped their target price on ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Argus increased their target price on shares of ServiceNow from $134.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. Jefferies Financial Group restated a “buy” rating on shares of ServiceNow in a report on Tuesday, October 13th. Finally, Evercore restated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $155.10.

ServiceNow Stock Up 1.5%

ServiceNow stock traded up $2.29 during midday trading on Friday, reaching $159.29. The stock had a trading volume of 11,079,096 shares, compared to its average volume of 11,102,899. The company has a fifty day moving average price of $137.87 and a two-hundred day moving average price of $115.39. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $192.97. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $164.71 billion, a P/E ratio of 99.56, a PEG ratio of 2.88 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced 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 business had revenue of $3.99 billion for 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 quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 earnings per share. As a group, equities analysts expect that ServiceNow, Inc. will post 2.22 EPS for the current fiscal year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target to $180 ahead of ServiceNow’s third-quarter results, citing continued demand for AI-related products and services. The revised target signals confidence that AI adoption can support additional growth. Bank of America Boosts ServiceNow Forecast Ahead of Earnings
• Positive Sentiment: ServiceNow’s defense and national-security business is being positioned as a major growth driver over the next year. Management highlighted demand for workflow automation, AI, cybersecurity, logistics modernization and digital transformation among military and government agencies. ServiceNow Defense Business Interview
• Positive Sentiment: The company and Nvidia launched “Arc,” an AI agent designed to plan tasks and verify its work. The product reinforces ServiceNow’s strategy of embedding governed, enterprise-grade AI into its workflow platform, potentially supporting product adoption and customer spending. ServiceNow and Nvidia Launch Arc
• Positive Sentiment: ServiceNow was selected as a preferred idea on CNBC’s “Final Trades,” while Polen Capital highlighted the company’s AI opportunity and revenue-growth prospects. These endorsements add to favorable market sentiment, although they are not substitutes for operating results. ServiceNow on CNBC’s Final Trades
• Neutral Sentiment: Investors are focused on ServiceNow’s upcoming third-quarter earnings, with analysts examining subscription growth, current remaining performance obligations, margins and other operating metrics beyond revenue and EPS. Results and guidance could determine whether the recent rally continues. ServiceNow Q3 Performance Estimates
• Negative Sentiment: Comparisons with TD SYNNEX frame ServiceNow as a less obvious value investment. NOW’s premium valuation means the stock remains sensitive to an earnings or guidance disappointment, despite its strong growth prospects. SNX vs. NOW Value Comparison

Insider Transactions at ServiceNow

In related news, insider Jacqueline Canney sold 7,847 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the sale, the insider owned 30,042 shares in the company, valued at $4,145,796. This represents a 20.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 that occurred on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total value of $365,850.00. Following the transaction, the director directly owned 43,990 shares in the company, valued at approximately $5,960,645. The trade was a 5.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,081 shares of company stock valued at $1,937,904 over the last three months. Corporate insiders own 0.34% of the company’s stock.

About ServiceNow

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.