ServiceNow, Inc. $NOW Holdings Raised by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp grew its stake in ServiceNow, Inc. (NYSE:NOW) by 153.1% in the third quarter, HoldingsChannel reports. The fund owned 98,244 shares of the information technology services provider’s stock after acquiring an additional 59,435 shares during the period. UNIVEST FINANCIAL Corp’s holdings in ServiceNow were worth $13,166,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Bank of Nova Scotia raised its position in ServiceNow by 53.3% in 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 purchasing an additional 353,749 shares during the last quarter. Sapient Capital LLC boosted its position in ServiceNow by 266.0% in the 2nd quarter. Sapient Capital LLC now owns 77,661 shares of the information technology services provider’s stock valued at $7,710,000 after buying an additional 56,444 shares during the last quarter. Meeder Advisory Services Inc. bought a new position in ServiceNow in the 2nd quarter valued at $2,881,000. Vestor Capital LLC boosted its position 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 valued at $12,791,000 after buying an additional 122,030 shares during the last quarter. Finally, Cardano Risk Management B.V. boosted its position in ServiceNow by 6.9% in the 2nd 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 buying an additional 31,119 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley restated an “overweight” rating and set a $160.00 target price on shares of ServiceNow in a research report on Thursday, October 29th. Citigroup decreased their price target on ServiceNow from $170.00 to $157.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. Guggenheim reiterated a “buy” rating and issued a $175.00 price target (up from $125.00) on shares of ServiceNow in a report on Friday, October 23rd. Royal Bank Of Canada set a $165.00 price objective on ServiceNow and gave the stock an “outperform” rating in a research report on Thursday, October 29th. Finally, TD Cowen dropped their price objective on ServiceNow from $165.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $154.50.

Key Stories Impacting ServiceNow

Investors following NOW have been watching these stories:

• Positive Sentiment: A tech-led rebound lifted software stocks and helped ServiceNow shares rise in Wednesday trading. ServiceNow stock climbs
• Positive Sentiment: ServiceNow’s expanding AI capabilities and its Google Cloud partnership—enabling Gemini Enterprise to carry out business workflows—could support long-term growth. However, the financial payoff from AI remains uncertain. Where Will ServiceNow Stock Be in 2 Years?
• Negative Sentiment: A law firm is investigating potential investor claims involving ServiceNow. The announcement adds uncertainty, but an investigation is not a finding of wrongdoing. Pomerantz investigation announcement

ServiceNow Stock Performance

NOW stock opened at $102.85 on Thursday. The business’s fifty day moving average is $133.69 and its 200-day moving average is $114.40. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.42. The company has a market cap of $106.76 billion, a P/E ratio of 73.99, a price-to-earnings-growth ratio of 1.95 and a beta of 1.00. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $175.00.

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

Insider Activity at ServiceNow

In other news, insider Paul Fipps sold 2,034 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $147.87, for a total transaction of $300,767.58. Following the completion of the transaction, the insider directly owned 18,305 shares in the company, valued at approximately $2,706,760.35. The trade was a 10.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of the sale, the director owned 43,990 shares in the company, valued at $5,960,645. This represents a 5.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 13,870 shares of company stock worth $1,880,595. 0.34% of the stock is owned by insiders.

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.