ServiceNow, Inc. $NOW Stock Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 208.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 176,090 shares of the information technology services provider’s stock after acquiring an additional 119,039 shares during the quarter. King Luther Capital Management Corp’s holdings in ServiceNow were worth $23,598,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. A. D. Beadell Investment Counsel Inc. grew its stake in shares of ServiceNow by 2.9% in the 2nd quarter. A. D. Beadell Investment Counsel Inc. now owns 2,818 shares of the information technology services provider’s stock valued at $279,000 after buying an additional 80 shares during the period. DUTCH ASSET Corp increased its holdings in shares of ServiceNow by 0.5% during the 3rd quarter. DUTCH ASSET Corp now owns 16,331 shares of the information technology services provider’s stock worth $2,189,000 after buying an additional 82 shares during the last quarter. Atwood & Palmer Inc. raised its position in shares of ServiceNow by 20.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 600 shares of the information technology services provider’s stock valued at $60,000 after buying an additional 100 shares during the period. Diligent Investors LLC raised its position in shares of ServiceNow by 4.1% during the 3rd quarter. Diligent Investors LLC now owns 2,560 shares of the information technology services provider’s stock valued at $343,000 after buying an additional 100 shares during the period. Finally, Signature Wealth Management Partners LLC lifted its holdings in ServiceNow by 3.3% in the third quarter. Signature Wealth Management Partners LLC now owns 3,281 shares of the information technology services provider’s stock valued at $440,000 after acquiring an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Citigroup lowered their price objective on ServiceNow from $170.00 to $157.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. Piper Sandler reissued an “overweight” rating and set a $175.00 target price on shares of ServiceNow in a research note on Thursday, October 29th. DA Davidson set a $170.00 target price on ServiceNow and gave the company a “buy” rating in a research report on Monday, July 20th. BMO Capital Markets upped their price target on ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, Bank of America upped their price target on ServiceNow from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.50.

Key Stories Impacting ServiceNow

Here are a few of the latest stories about NOW:

• Positive Sentiment: ServiceNow introduced an Autonomous CRM Engine intended to map existing systems and speed up legacy CRM migrations, with continuous monitoring to catch configuration issues. It is in controlled availability, with wider expansion planned for 2027; Datacom and Xactly are among the adopters. The launch could support customer adoption of its AI-powered workflow platform. ServiceNow launches Autonomous CRM Engine
• Positive Sentiment: Argus maintains a Buy rating, citing ServiceNow’s AI opportunity despite shares trading well below their high. The company also appeared on a list of AI stocks following Wells Fargo’s more constructive outlook on AI infrastructure. Argus still rates ServiceNow a Buy
• Neutral Sentiment: LicenseFortress added ServiceNow to its software-licensing advisory services, including cost reviews and renewal support. This may help customers manage licensing but does not directly signal new ServiceNow revenue. LicenseFortress expands services to include ServiceNow

Insider Activity at ServiceNow

In related news, insider Paul Fipps sold 2,034 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the sale, the insider 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 can be accessed through this hyperlink. Also, insider Jacqueline Canney sold 1,289 shares of the stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $101.70, for a total transaction of $131,091.30. Following the sale, the insider directly owned 30,042 shares in the company, valued at $3,055,271.40. This represents a 4.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 13,870 shares of company stock worth $1,880,595. 0.34% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

Shares of NOW stock opened at $100.65 on Friday. 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 firm has a market cap of $104.47 billion, a P/E ratio of 72.41, a P/E/G ratio of 2.01 and a beta of 1.00. The firm’s 50 day moving average price is $132.97 and its 200-day moving average price is $114.22. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $175.00.

ServiceNow (NYSE:NOW) last posted its earnings results 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). The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.09 billion. ServiceNow had a net margin of 9.36% and a return on equity of 15.17%. During the same quarter last year, the business posted $4.82 EPS. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, equities research analysts predict that ServiceNow, Inc. will post 2.12 EPS for the current year.

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.