Triton Wealth Management PLLC Acquires 5,458 Shares of ServiceNow, Inc. $NOW

Triton Wealth Management PLLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,458 shares of the information technology services provider’s stock, valued at approximately $731,000.

Several other large investors also recently modified their holdings of the stock. D.B. Root & Company LLC acquired a new stake in shares of ServiceNow during the 3rd quarter worth about $205,000. D Orazio & Associates Inc. grew its stake in ServiceNow by 18.4% in the 3rd quarter. D Orazio & Associates Inc. now owns 2,622 shares of the information technology services provider’s stock valued at $351,000 after buying an additional 407 shares during the last quarter. Marathon Wealth Advisors LLC acquired a new position in ServiceNow in the 3rd quarter valued at about $2,420,000. New York Life Investment Management LLC grew its stake in ServiceNow by 3.3% in the 3rd quarter. New York Life Investment Management LLC now owns 173,947 shares of the information technology services provider’s stock valued at $23,311,000 after buying an additional 5,586 shares during the last quarter. Finally, 71 West Capital Partners raised its holdings in ServiceNow by 9.4% in the 3rd quarter. 71 West Capital Partners now owns 74,563 shares of the information technology services provider’s stock valued at $9,992,000 after acquiring an additional 6,418 shares during the period. 87.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NOW has been the subject of several research reports. Sanford C. Bernstein restated an “outperform” rating and set a $266.00 price objective on shares of ServiceNow in a research report on Tuesday, October 20th. Argus restated a “buy” rating and set a $170.00 price objective on shares of ServiceNow in a report on Tuesday, November 3rd. Guggenheim reaffirmed a “buy” rating and issued a $175.00 target price (up from $125.00) on shares of ServiceNow in a research report on Friday, October 23rd. Piper Sandler reiterated an “overweight” rating and set a $175.00 target price on shares of ServiceNow in a research note on Thursday, October 29th. Finally, Jefferies Financial Group set a $145.00 price target on ServiceNow in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.50.

ServiceNow Trading Down 3.3%

NOW stock opened at $99.35 on Wednesday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $175.00. The company has a market capitalization of $103.13 billion, a PE ratio of 71.48, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. The company’s 50-day simple moving average is $134.49 and its 200 day simple moving average is $114.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.72 and a current ratio of 0.72.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share 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 during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter last year, the firm earned $4.82 EPS. ServiceNow’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 2.12 earnings per share for the current year.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Kyndryl and ServiceNow launched a jointly developed autonomous-operations offering on the ServiceNow Store. The AI-powered product is designed to improve productivity and automate IT issue resolution, supporting the case for ServiceNow’s AI opportunity. Kyndryl expands partnership with ServiceNow
• Positive Sentiment: Broward County, Florida, has gone live with ServiceNow’s IT Service Management and Workflow Data Fabric, providing a concrete public-sector deployment that may help demonstrate customer adoption of its workflow platform. Broward County selects ServiceNow
• Neutral Sentiment: Institutional ownership reports were mixed: 71 West Capital Partners increased its stake, while Alps Advisors reduced its position. These filings reflect differing investor views and may have limited near-term significance. 71 West Capital Partners increases stake
• Negative Sentiment: Shares weakened as Anthropic introduced new Claude tools, renewing fears that AI products could intensify competition or erode demand for enterprise software. The concern is part of a broader slide in software stocks. ServiceNow stock drops amid Anthropic’s new AI tools
• Negative Sentiment: Reports describe a steep recent decline, with investors still reacting to the October quarterly results: revenue exceeded estimates and grew year over year, but EPS came in slightly below consensus. A Pomerantz law firm investigation into potential investor claims adds another source of uncertainty, although an investigation is not a finding of wrongdoing. Pomerantz investigation notice

Insiders Place Their Bets

In other ServiceNow news, insider Paul Fipps sold 2,034 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the transaction, the insider owned 18,305 shares in the company, valued at $2,706,760.35. This represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline Canney sold 7,847 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the transaction, the insider directly owned 30,042 shares in the company, valued at $4,145,796. This represents a 20.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,370 shares of company stock worth $2,068,995 in the last quarter. Corporate insiders own 0.34% of the company’s stock.

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.