ServiceNow, Inc. $NOW Stock: IronBridge Private Wealth LLC Increases Position

IronBridge Private Wealth LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 61.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 34,027 shares of the information technology services provider’s stock after buying an additional 13,015 shares during the period. ServiceNow makes up approximately 1.3% of IronBridge Private Wealth LLC’s portfolio, making the stock its 24th largest holding. IronBridge Private Wealth LLC’s holdings in ServiceNow were worth $4,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Paragon Advisors LLC raised its position in ServiceNow by 1.3% in the third quarter. Paragon Advisors LLC now owns 29,790 shares of the information technology services provider’s stock worth $3,992,000 after acquiring an additional 392 shares in the last quarter. M Holdings Securities Inc. boosted its position in shares of ServiceNow by 87.1% during the 3rd quarter. M Holdings Securities Inc. now owns 27,091 shares of the information technology services provider’s stock worth $3,630,000 after purchasing an additional 12,611 shares in the last quarter. Candriam S.C.A. boosted its position in shares of ServiceNow by 45.9% during the 3rd quarter. Candriam S.C.A. now owns 1,819,501 shares of the information technology services provider’s stock worth $244,722,000 after purchasing an additional 572,638 shares in the last quarter. Cooper Haims Advisors LLC acquired a new position in shares of ServiceNow during the 3rd quarter worth $206,000. Finally, Ethic Inc. grew its stake in shares of ServiceNow by 8.8% during the 3rd quarter. Ethic Inc. now owns 155,519 shares of the information technology services provider’s stock worth $20,841,000 after purchasing an additional 12,574 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Down 0.1%

Shares of NOW opened at $101.91 on Monday. The company has a market capitalization of $105.78 billion, a P/E ratio of 73.32, a P/E/G ratio of 1.99 and a beta of 1.00. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $175.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a 50-day moving average price of $136.31 and a 200 day moving average price of $114.81.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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 business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the prior year, the firm earned $4.82 earnings per share. ServiceNow’s revenue for the quarter was up 20.5% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow, Inc. will post 2.12 EPS for the current fiscal year.

Insider Activity

In other news, Director Paul Chamberlain sold 2,700 shares of the firm’s 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 of the company’s stock, valued at approximately $5,960,645. This trade represents a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 2,034 shares of ServiceNow stock in a transaction on 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 sale, the insider owned 18,305 shares of the company’s stock, valued at approximately $2,706,760.35. This trade represents a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 14,081 shares of company stock worth $1,937,904. 0.34% of the stock is currently owned by insiders.

Key ServiceNow News

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on NOW. Jefferies Financial Group set a $145.00 target price on shares of ServiceNow in a research report on Thursday, October 29th. Mizuho set a $165.00 price objective on ServiceNow in a report on Thursday, October 29th. The Goldman Sachs Group reissued a “buy” rating on shares of ServiceNow in a research note on Monday, August 3rd. Benchmark reissued a “buy” rating on shares of ServiceNow in a research report on Friday, July 17th. Finally, Bank of America increased their price target on shares of ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $154.50.

ServiceNow Company 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.